Team Inc., Sugar Land, Texas, added four new investment options to its 401(k) plan lineup in 2018, according to an 11-K filing with the SEC.
The plan added the T. Rowe Price Blue Chip Growth Fund, an active domestic large-cap growth equity fund managed by T. Rowe Price Group. The fund had $20 million in assets in the plan as of Dec. 31, according to the June 28 filing.
The plan also added the J.P. Morgan Large Cap Value Fund, an active domestic large-cap value equity fund managed by J.P. Morgan Asset Management; the Western Asset Core Plus Bond Fund, a core-plus fixed-income fund managed by Western Asset Management Co.; and the MFS Mid Cap Value Fund, an active domestic midcap value equity fund managed by MFS Investment Management.
Those funds had $11 million, $9 million and $5 million, respectively, in assets in the plan as of Dec. 31, according to the filing.
Also during 2018, the plan removed the Fidelity Advisor New Insights Fund, an active domestic large-cap growth equity fund managed by Fidelity Investments. That fund had $17 million in assets in the plan as of Dec. 31, 2017, according to the company's previous 11-K filing.
The plan during 2018 also removed the Principal MidCap Value Fund, an active domestic midcap value equity fund managed by Principal Global Investors; and the Columbia Dividend Opportunity Fund, an active domestic large-cap value equity fund, and Columbia Total Return Bond Fund, a core-plus fixed-income fund, both managed by Columbia Threadneedle Investments.
Those funds had $7 million, $7 million and $5 million, respectively, in assets in the plan as of Dec. 31, 2017, according to the previous filing.
The reason for the changes was not provided.
As of Dec. 31, the Team Inc. Salary Deferral Plan and Trust had $285 million in assets, according to the new 11-K filing. As of that same date, the plan had 20 investment options, a common stock fund and a target-date fund lineup managed by Fidelity Investments.
Susan M. Ball, executive director and chief financial officer, could not be immediately reached to provide further information.
