UFP Industries Inc., Grand Rapids, Mich., added the American Funds Growth and Income Fund to the investment options lineup of its 401(k) plan in 2020.
The plan added the active domestic large-cap growth equity fund managed by Capital Group in the year ended Dec. 31, according to the company's 11-K filing with the SEC on Wednesday.
The fund had $19 million in assets in the plan as of Dec. 31, according to the filing.
Also during 2020, the plan removed the Invesco Growth and Income Fund from the lineup, according to a comparison of this year's and last year's 11-K filings.
That fund, an active domestic large-cap growth equity fund managed by Invesco, had $19 million in assets in the plan as of Dec. 31, 2019, according to last year's 11-K filing.
The reason for the change was not provided.
As of Dec. 31, the UFP Industries Inc. Employees' Profit Sharing and 401(k) Plan had $446 million in assets, according to the new 11-K filing. The plan had 12 individual mutual fund options, a money market fund, stable value fund, common stock fund and target-date fund lineup managed by T. Rowe Price Group as of that date.
UFP spokesman Dick Gauthier could not be immediately reached for further information.