WEX Inc., South Portland, Maine, added two index funds managed by Fidelity Investments to the investment options lineup of its 401(k) plan.
The plan in 2019 added the Fidelity 500 Index Fund and Fidelity Extended Market Index Fund, which had $21 million and $6 million in assets in the plan, respectively, as of Dec. 31, according to the company's June 26 11-K filing with the SEC.
Also during 2019, the plan removed two similar index fund collective investment trusts managed by Northern Trust Asset Management. The Northern Trust Collective S&P 500 Index Fund and Northern Trust Extended Market Equity Index Fund had $15 million and $4 million in assets in the plan, respectively, as of Dec. 31, 2018, according to the company's prior 11-K filing.
The new 11-K filing did not provide a reason for the change.
As of Dec. 31, the WEX Inc. Employee Savings Plan had $256 million in assets, according to the new 11-K filing. As of that same date, the plan had 12 individual mutual fund options, one CIT option, a common stock fund, money market fund and target-date fund lineup managed by T. Rowe Price Group.
Spokesman Robert Gould could not be immediately reached for further information.