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Rating:Subadvisor Switcheroo Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, August 05, 2002

Subadvisor Switcheroo

by: InvestmentWires Staff, 

ICMA-RC has made subadvisor changes in its Vantagepoint Growth Fund (VPGRX) and Vantagepoint Aggressive Opportunities Fund (VPAOX).

Two subadvisor changes were made to the Vantagepoint Growth Fund, the firm's flagship equity fund with approximately $2.2 billion in assets. Peregrine Capital Management replaced TCW Investment Management Company, which held approximately 25% of the fund. Additionally, the assets managed by Atlanta Capital were reallocated to existing fund managers Tukman Capital Management and Brown Capital Management. The fund's objective and investment characteristics remain the same.

The Fund also reduced its index portfolio component, managed by BGI, from 20% to 5%, with the assets reallocated to Brown Capital Management and Tukman Capital Management. Fund management believes the change from the passive index to active management will increase the fund's return potential.

The Vantagepoint Aggressive Opportunities Fund replaced TCW Investment Company and MFS Institutional Advisors with Wellington Management Company and Southeastern Asset Management. The Fund's objective and investment characteristics remain the same.

John Tobey, CIO of Vantagepoint Funds, said, "One advantage of subadvised funds is the ability to change managers and reallocate assets as needed. All of the changes we've made are designed to increase the return potential of the funds, while maintaining the risk level." 

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