SVB Financial Group, Santa Clara, Calif., added the Vanguard U.S. Growth Fund Admiral Shares to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the active domestic large-cap growth equity fund managed by Vanguard Group and subadvised by Baillie Gifford, Jennison Associates and Wellington Management had $57 million in assets in the plan, according to the company's 11-K filing with the SEC on Monday.
A comparison of this year's and last year's 11-K filings show the plan removed a similar fund from the investment options lineup in 2020.
As of Dec. 31, 2019, the PRIMECAP Odyssey Growth Fund, an active domestic large-cap growth equity fund managed by PRIMECAP Management had $54 million in assets in the plan, according to the prior 11-K filing.
The new 11-K filing did not provide a reason for the change.
As of Dec. 31, the SVB Financial Group 401(k) and Employee Stock Ownership Plan had $1 billion in assets, according to the new 11-K filing.
Spokeswoman Julia Thompson could not be immediately reached for further information.
