Level Two: Core Options
as of 12/30/11
The Growth Stock Fund may include a range of investment managers who invest in the stock of companies that produce high earning or have the potential to generate earning growth in the future. Growth managers invest in stocks whose earnings per share (EPS) show a high or above-average growth rate in relation to its peers. Growth stocks tend to have higher price/earnings ratios (P/E) that the overall stock market because investors expect more and willing to pay for reliable growth. While all stocks are subject to volatility, growth stocks are generally more volatile than those on the value side. This Fund may be attractive to an investor who can tolerate added volatility in pursuit of capital appreciation.
DAP Asset Allocation
Fund Characteristics
| Fund Assets ($ million) | 48.3* |
| Net Asset Value | 355.87 |
| 2011 Expense Ratio | 89 |
Target Allocation
| Wellington Mid Cap Opportunities (commingled fund) | 10% |
| Marsico Focus Fund (MFOCX) (separate account) | 20% |
| Turner Mid Cap Growth (TMBFX) | 10% |
| T. Rowe Price Growth Stock (TRSAX) | 20% |
| Primecap Odyssey Growth (POGRX) | 20% |
| BlackRock Growth Index (not a mutual fund) | 20% |
Annual Performance
Comparison to Benchmark
Growth of $10,000 Investment
*includes assets from the Model Portfolios