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Investment consultant flags two funds for review; committee approves placing a recently added real-estate fund on watch and updates IPS
Summary
HIAS Group told the Deferred Compensation Advisory Committee about volatile markets, recommended placing the DFA real estate fund on watch and proposed a search for a replacement for Vanguard International Value; the committee approved the consultant’s recommendation and voted to adopt an updated Investment Policy Statement.
STOCKTON, Calif. — Vincent, a consultant from the HIAS Group, told the San Joaquin County Deferred Compensation Advisory Committee that the first quarter’s market volatility produced mixed results across asset classes and urged the committee to monitor two funds on the plan menu.
“Not only is the near term performance mediocre at best, but the style drift is significant,” Vincent said of one fund underperforming its mandate. He recommended bringing a search document for possible replacements to the next quarterly meeting for the Vanguard International Value position and placing the DFA Real Estate Securities Fund on watch after its recent addition to the lineup.
Nut graf: The consultant’s quarterly report covered macroeconomic trends, fund-level performance, fees and governance. The…
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