Universal Forest Products Inc., Grand Rapids, Mich., added five index funds managed by Fidelity Investments to its 401(k) plan lineup in 2018, the company disclosed Wednesday in an 11-K filing with the SEC.
The company added Fidelity's 500 Index Fund, which had $15 million in assets in the plan as of Dec. 31; Midcap Index Fund, $14 million; International Stock Index fund and Small Cap Index Fund, $2 million each; and U.S. Bond Index fund, $1 million.
The funds replaced five similar index funds managed by Vanguard Group, which had a total of $37 million in assets in the plan as of Dec. 31, 2017, according to the company's prior 11-K filing.
As of Dec. 31, the Universal Forest Products Inc. Employees' Profit Sharing and 401(k) plan had $264 million in assets. As of that same date, the plan had 12 investment options, a common stock fund and a target-date fund lineup managed by T. Rowe Price Group.
The reason for the change was not provided.
Lynn Afendoulis, company spokeswoman, could not be immediately reached to provide further information.