Umpqua Holdings Corp., Portland, Ore., added five index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan in 2020.
As of Dec. 31, the Fidelity 500 Index Fund, Fidelity Small Cap Index Fund, Fidelity Mid Cap Index Fund, Fidelity U.S. Bond Index Fund and Fidelity Total International Index Fund had $32 million, $10 million, $10 million, $7 million and $5 million, respectively, in assets in the plan, according to the company's 11-K filing with the SEC on Wednesday.
A comparison of this year's and last year's filings show the plan also removed five index funds managed by Vanguard Group from its investment options lineup in 2020.
As of Dec. 31, 2019, the Vanguard Institutional Index Fund, Vanguard Small-Cap Index Fund, Vanguard Mid-Cap Index Fund, Vanguard Total Bond Market Index Fund and Vanguard Total International Stock Index Fund had $27 million, $9 million, $9 million, $6 million and $5 million, respectively, in assets in the plan, according to the prior 11-K filing.
Also in 2020, the plan added a stable value fund managed by Putnam Investments and removed a stable value fund managed by Wells Fargo Asset Management, a comparison of this year's and last year's filing shows. The Putnam fund had $7 million in assets in the plan as of Dec. 31, according to the new filing, and the Wells Fargo fund had $6 million in assets in the plan a year earlier, the prior filing showed.
The new 11-K filing did not provide reasons for the changes.
As of Dec. 31, the Umpqua Bank 401(k) and Profit Sharing Plan had $413 million in assets, according to the new 11-K filing.
Spokesman Kurt Heath could not be immediately reached for further information.
