Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:ICMA Taps Subadvisor For Aggressive Fund Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, March 25, 2003

ICMA Taps Subadvisor For Aggressive Fund

by: Sean Hanna, Editor in Chief

ICMA has tapped T. Rowe Price as the third advisor to its $550 million Vantagepoint Aggressive Opportunities Fund. Baltimore-based T. Rowe Price will act as one of three subadvisors to the fund, replacing Roxbury Capital Management. Each of the three firms will advise an equal share of the fund.

The Vantagepoint Funds are the branded fund family for ICMA Retirement Corp., which specializes in providing retirement plans to state and local governments. The family holds some $8 billion in 19 funds, according to ICMA. Government employees can also purchase the funds through IRAs.

A spokesperson for ICMA declined to provide a specific reason for the change in subadvisors. The firm would say that it actively monitors and evaluates each subadvisor to ensure that investors can continue experiencing competitive historical performance.

"From time to time, a change in subadvisors is warranted to improve that opportunity. This typically happens when ICMA-RC identifies a subadvisor change that could be detrimental to the stated objectives of the fund. Examples include a deviation in investment style, a change in ownership or a loss of key personnel," according to a statement.

While the fund lagged its peer group by 10.91 percent in 2002 and is also behind by 1.7 percent so far in 2003, it did surpass others in its objective in 2001, according to date provided by Morningstar.

T. Rowe Price's John H. Laporte will act as the lead portfolio manager for the portion of the fund being managed by his firm. He also manages the T. Rowe Price New Horizons Fund.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use