South Jersey Industries Inc., Folsom, N.J., added a series of target-date funds managed by Vanguard Group and five individual funds to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the Vanguard target-date funds totaled $24 million in assets in the plan, according to the company's 11-K filing Monday with the SEC.
Also as of Dec. 31, the Fidelity Total Market Index Fund, a passive domestic equity fund managed by Fidelity Investments; the MFS International Diversified Fund, an active international equity fund managed by MFS Investment Management; the Victory Sycamore Established Value Fund, an active domestic midcap value equity fund managed by Victory Capital Management; the William Blair Small Cap Fund, an active domestic small-cap equity fund managed by William Blair & Co.; and the BlackRock Mid-Cap Growth Equity Fund, an active domestic midcap growth equity fund, had $24 million, $19 million, $14 million, $8 million, $6 million and $5 million, respectively, in assets in the plan, according to the new filing.
A comparison of this year's 11-K filing and last year's filing shows the plan did not offer target-date funds in 2019, and that it removed nine individual mutual funds from the lineup in 2020.
According to the company's prior 11-K filing, the funds removed and their assets in the plan as of Dec. 31, 2019 were:
- iShares S&P 500 Index Fund, $9 million.
- Vanguard Total Market Index Fund, $8 million.
- Harbor International Fund, $7 million.
- Vanguard Growth Index Fund, $7 million.
- Invesco Van Kampen Mid Cap Growth Fund, $6 million.
- Franklin Total Return Fund, $5 million.
- Franklin Small Cap Value Fund, $4 million.
- PGIM Jennison Small Company Fund, $4 million.
- BNY Mellon International Bond Fund, $1 million.
The new 11-K filing did not provide a reason for the changes.
As of Dec. 31, the South Jersey Industries Inc. 401(k) Plan had $190 million in assets, according to the new 11-K filing.
Officials at South Jersey Industries could not be immediately reached for further information.