Level Two: Core Options
as of 12/30/11
The Value Stock Fund may include a range of value investment managers who generally invest in stocks that are out of favor with the investment community. Value managers look for large or mid-cap stocks that are undervalued in the marketplace in relation to factors such as the company’s assets, sales, earnings, book value, growth potential, cash flow, or in relation to securities of other companies in the same industry. Value managers are looking for a stock that is financially strong but has been overlooked by the market for some reason and is therefore under-valued forever, and that investors will eventually realize the stock is undervalued and begin buying into the stock, thus pushing the price upwards.
Fund Characteristics
| Fund Assets ($ million) | 67.5* |
| Net Asset Value | 428.99 |
| 2011 Expense Ratio | 92 basis pts. |
Target Allocation
| BlackRock Value Index (not a mutual fund) | 20% |
| Neuberger Berman Partners (NBPTX) | 20% |
| T. Rowe Price Value (PAVLX) | 20% |
| Goldman Sachs Mid Cap Value Instl. (GSMCX) | 15% |
| JP Morgan Equity Income (OIERX) | 15% |
| CGM Focus (CGMFX) | 10% |
Annual Performance
Comparison to Benchmark
Growth of $10,000 Investment
*includes assets from the Model Portfolios