Page 9 - FebDefComp
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Date: February 25, 2021
To: County of San Mateo, Deferred Compensation Advisory Committee
From: Vince Learned, NFP
Fund Watchlist Action Items Memo (from the 11/5/2020 Committee meeting)
A full Fiduciary Investment Review was presented by NFP to the Committee on 11/5/2020. At the time, several
funds were recommended to be retained or placed on the Watchlist due to scoring.
We are today seeking to formally accept the recommendation to Watchlist the following funds:
457b, 401a, and HRA Plan
• American Funds Growth Fund of America (6)
• PIMCO Long-Term Real Return (6)
• Hartford Healthcare HLS (7, but scored a 6 in Q2 2020)
Investment Policy Statement guidelines state that a fund scoring a 5 or 6 is to be placed on Watchlist.
Additionally, a fund should have 4 consecutive quarters of Acceptable/Good scoring (7 – 10) subsequent to
scoring a Watchlist score, in order to be removed from the Watchlist.
Note: Due to an additional quarter of favorable scoring for the PIMCO Total Return fund in the HRA plan, we no
longer seek to retain/place this fund on the Watchlist.
