Orange County Section 457 Deferred Compensation Plan, Orlando, Fla., will add the Vanguard Total International Bond Index Fund, if an advisory committee recommendation is accepted by County Comptroller Martha O. Haynie, said Mark Fostier, assistant county comptroller.
The addition would be the $159 million plan's first international fixed-income investment option for the participant-directed plan.
The plan's five-member advisory committee recommended the fund to Ms. Haynie, who has been delegated by the county commissioners to make selection decisions, Mr. Fostier said. The county comptroller's office administers the plans. No time frame for a decision has been set, although it could come in the next few weeks, Mr. Fostier said.
Vanguard, which announced the new index fund in February, hasn't set a date for its introduction, although it could come by the end of June, according to a Vanguard statement. The fund tracks the Barclays Global Aggregate ex-U.S. index, hedged to U.S. dollars.
The committee recommended the move to increase diversification through the growth of global credit markets, Mr. Fostier said.
Bogdahn Group, the plan's investment consultant, assisted, Mr. Fostier said.
The plan didn't issue an RFP. Plan officials, with Bogdahn's assistance, evaluate new Vanguard funds as they become available, Mr. Fostier said.