Under the Investment Manager Monitoring Guidelines, the SBA will develop a "Watch List" to define the conditions that will cause the SBA to evaluate continued retention of an investment manager or investment product. Each quarter, SBA Defined Contribution Programs staff reviews data, analysis and recommendations from the SBA's manager monitoring consultant, Mercer Consulting. As a result of this process, investment products can be identified for enhanced monitoring (i.e., Watch Listed), which initiates a series of steps outlined in the Guidelines (provided above as a PDF).
Placing a manager on "Watch List" is an intermediate step towards either resolving the problem or terminating the manager.
Please note that in providing this information, the SBA is not in any way intending to influence or inform your investment decisions. Also, this list can change at any time without prior notice from the SBA.
Products Subject to Enhanced Monitoring
Various investment products have been subjected to enhanced monitoring for performance through the time periods shown in the "Due Diligence" section. Please contact the MyFRS Financial Guidance Line toll-free at 1-866-446- 9377, Option 1, for any further questions or updated information on funds.
Various investment products are subject to enhanced monitoring at this time, and have been placed in this status for performance through the time periods shown below.
| 09/30/11 |
Third Quarter 2011... [more] |
Return to List
09/30/11 Third Quarter 2011*
Fidelity Low-Priced Stock Fund Organizational Changes Summary
The Fund was being placed on Watch List in the Second Quarter 2011 due to recent organizational changes. In September 2011, the current portfolio manager, Joel Tillinghast, will
commence a leave of absence scheduled to end in January 2012. During his absence the Fund will be managed by a team of other portfolio managers at Fidelity. Under FRS Investment Plan Manager
Monitoring Guidelines, this change is considered to be material. Mercer Consulting will conduct a more thorough review of the impact on the Fund regarding this change and make a recommendation
if further action is warranted. The Fund has been
CLOSED to new investors and payroll contributions since July 2004.
Pioneer Performance Summary
The Fund is being placed on Watch List due to recent underperformance against both its benchmark and its peer group for trailing 3-year and 5-year periods.
The Fund's organization and portfolio management process has not been review by Mercer Consulting and is slated to undergo a review sometime over the next 2-3 quarters.
*Please note that in providing this information, the SBA is not in any way intending to influence or inform your investment decisions.
Also, this list can change at any time without prior notice from the SBA.
Download the PDF version
