According to a news release, Fidelity is adding nine investment choices including funds from Neuberger Berman, Van Kampen and Evergreen Investments. The program now offers 55 third-party funds and 51 Fidelity Advisor options.
Fidelity also expanded the choice of investment menus available in its Premium 100 product for small companies with between 25 and 150 employees. The two new options allow financial advisors to work with plan sponsors to build a menu of 15 Fidelity Advisor Funds or a menu of 15 funds, selecting 13 Fidelity Advisor Funds and two non-Fidelity funds from a select list, including Dreyfus, AIM and State Street Research.
Launched five years ago, Fidelity’s Premium 401(k) Program has grown to more than 1,800 plans, representing over 285,000 participants and approximately $6.8 billion in total administered assets.