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Committee places Invesco gold fund on watch, approves lower‑cost target‑date funds and adopts charter and fee policy
Summary
The advisory committee put the Invesco Gold & Special Minerals Fund on watch after its lead manager left, approved moving target‑date models to a lower‑cost collective investment trust to save roughly $130,000 annually, and adopted a committee charter and fee policy (with minor editorial amendments).
The San Joaquin County Deferred Compensation Advisory Committee voted Feb. 26 to place the Invesco Gold & Special Minerals Fund on watch, to shift the plan’s target‑date series to a lower‑cost collective investment trust (CIT), and to adopt a committee charter and a fee policy with agreed editorial changes.
Consultant Vincent Galindo recommended placing the Invesco Gold & Special Minerals Fund on watch because the lead manager recently departed. He told the committee that manager turnover, even for a high‑performing fund, is a qualitative reason to monitor performance and governance. The motion to…
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