Wyoming Retirement System, Cheyenne, is simplifying the investment lineup of its $525 million 457 plan to include six white-label options, a target-date fund series and a self-directed brokerage account, said materials posted on the retirement system's website.
The new options consist of a mix of different funds managed by several underlying managers, some of which are new and some of which have been retained. The funds, with the new managers in bold, are:
- WRS Small-Mid Cap U.S. Equity Fund, the underlying managers of which are BlackRock (BLK) (Russell 2500 index fund), Diamond Hill Capital Management (domestic midcap value equity) and T. Rowe Price Group (domestic small-cap growth equity);
- WRS Large Cap U.S. Equity Fund, the underlying manager of which is BlackRock, with an “equity index fund,” according to a data sheet;
- WRS International Equity Fund, the underlying managers of which are Artisan Partners (APAM) Asset Management (international growth equity); Dodge & Cox (international large-cap equity); Hartford Funds (international smidcap equity), and Vanguard Group (international large-cap equity);
- WRS Real Assets Fund, the underlying managers of which are Credit Suisse Asset Management (bank loan), Dimensional Fund Advisors (global real estate), Nuveen Investments (infrastructure), T. Rowe Price Group (natural resources) and Vanguard Group (inflation-protected fixed income);
- WRS Fixed Income Fund, the underlying managers of which are Dodge & Cox, DoubleLine Capital, and J.P. Morgan Asset Management (JPM), all intermediate fixed-income funds; and
- WRS Capital Preservation Fund, which consists of the Wyoming Stable Value Fund.
Funds being removed are Artisan's Mid Cap Fund and International Growth Trust Fund; T. Rowe Price Group's New Horizons, Small Cap Value and Equity Income funds; Vanguard's S&P Mid Cap 400 Value Index Fund; Dodge & Cox's International Stock Fund and Income Fund; Oppenheimer Global Fund, BlackRock's Russell 1000 Growth Index Fund; State Street Global Advisors' GE U.S. Equity Fund and S&P 500 Index Fund; Pacific Investment Management Co.'s All Asset Fund; and JPMAM's Prime Money Market fund and Stable Value Fund.
BlackRock will continue to offer the target-date funds while the plan is adding TD Ameritrade's self-directed brokerage account.
Polly Scott, deferred compensation and communications manager, could not be immediately reached to provide further information.