Posted:
July 27, 2010
The American Maritime Officers Plans Investment Committee is pleased to announce an investment change and fund additions within the 401(k) and MPB Plans commencing the week of August 16th, 2010. Please take note of the investment changes below.
The Investment Committee with the assistance of our investment consultants at Morgan Stanley Smith Barney monitors the plan investment options on a regular basis. We review such things as fund performance, risk, style adherence, manager changes, etc. The Investment Committee, in the course of monitoring the investments, will make change(s) or additions when it believes that a specific change(s), or additions, would be beneficial to participants. Therefore, the following change and additions will occur:
FUNDS BEING ADDED TO PLAN'S INVESTMENT MENU
Our Morgan Stanley Smith Barney Consultants suggested to The Investment Committee adding a Real Estate Investment Trust (REIT) investment option to the 401(k) and MPB plans. There have also been a number of AMO members who have called our consultants and AMO and expressed their interest in a REIT fund being added to the plans core fund line up. After evaluating a number of options in this investment sector, it was decided to add First American Real Estate Securities A (FREAX) to the plans. The investment seeks current income and long-term capital appreciation. The fund normally invests at least 80% of net assets in income-producing common stocks of publicly traded companies engaged in the real estate industry. Please check out http://www.firstamericanfunds.com for more information on First American Real Estate Securities A (FREAX) before investing.
A number of AMO members had also requested a Treasury Inflation-Protected Securities (TIPS) mutual fund as an investment option. TIPS are bonds issued by the US Treasury that pay a coupon on the adjusted principal of the bond. The bond is adjusted on a semi-annual basis with the rate of the Consumer Price Index (a measure of inflation). So, TIPS are said to keep pace with inflation by returning the adjusted principal upon maturity and coupon payments along the way. After evaluating a number of options in this investment sector, it was decided to add BlackRock Inflation Protected Bond A (BPRAX) to the plans. The investment seeks to maximize real return, consistent with preservation of real capital and prudent investment management. The fund invests at least 80% of assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations. Please check out http://www1.blackrock.com/default.aspx?cmty=ind for more information on BlackRock Inflation Protected Bond A (BPRAX) before investing.
FUNDS BEING REPLACED ON PLAN'S INVESTMENT MENU
All current investments and future contribution elections to Pioneer Mid Cap Value A will be replaced as addressed directly above from August 16-18, 2010, unless you have provided different instructions to the plan record keeper, Newport Group, prior to the change. If you wish to provide different instructions to Newport Group, you may do so using their participant web site or phone center. The above-listed fund change will be automatic; no action is required on your part. Please view http://www.victoryconnect.com/vcn/home.jsp to access more detail regarding Victory Established Value A (VTEAX)
CHANGES TO THE INVESTMENT MODEL PORTFOLIOS: The plans have 4 risk-based model portfolios (ranging from "conservative" to "aggressive") that are available to participants. Any model allocations currently going to the fund being removed will automatically switch to the replacement fund noted above. There will be an automatic one-time realignment (rebalancing) of these models, reflecting the new funds and the targeted asset allocations (which are specified on the Newport Group website, plandestination.com). Assuming you are using a model portfolio and wish to have your account reflect the new fund and targeted asset allocation, no action is required on your part.
There will be a very brief transactional blackout period for the plans, on Monday, August 16 and Tuesday, August 17, 2010, ending the following day. During this blackout period you will have "inquiry" access only, meaning you will be able to view your account online, but you will be unable to request fund transfers. For this reason, it is very important that you review and consider the appropriateness of your current investments. For your long-term retirement security, you should give careful consideration to the importance of a well-balanced and diversified investment portfolio, taking into account all your assets, income and investments.
If you have questions related to this, or any other investment matters, please call one of our investment representatives from Morgan Stanley Smith Barney:
Larry Goldstock, Samuel Brandwein or anyone on their team at (800) 975-7061.
AMO Plans Investment Committee announces upcoming fund additions, investment change
The American Maritime Officers Plans Investment Committee is pleased to announce an investment change and fund additions within the 401(k) and MPB Plans commencing the week of August 16th, 2010. Please take note of the investment changes below.
The Investment Committee with the assistance of our investment consultants at Morgan Stanley Smith Barney monitors the plan investment options on a regular basis. We review such things as fund performance, risk, style adherence, manager changes, etc. The Investment Committee, in the course of monitoring the investments, will make change(s) or additions when it believes that a specific change(s), or additions, would be beneficial to participants. Therefore, the following change and additions will occur:
FUNDS BEING ADDED TO PLAN'S INVESTMENT MENU
| Name of Fund Being Added: | Ticker Symbol: |
| First American Real Estate Securities A | FREAX |
| BlackRock Inflation Protected Bond A | BPRAX |
Our Morgan Stanley Smith Barney Consultants suggested to The Investment Committee adding a Real Estate Investment Trust (REIT) investment option to the 401(k) and MPB plans. There have also been a number of AMO members who have called our consultants and AMO and expressed their interest in a REIT fund being added to the plans core fund line up. After evaluating a number of options in this investment sector, it was decided to add First American Real Estate Securities A (FREAX) to the plans. The investment seeks current income and long-term capital appreciation. The fund normally invests at least 80% of net assets in income-producing common stocks of publicly traded companies engaged in the real estate industry. Please check out http://www.firstamericanfunds.com for more information on First American Real Estate Securities A (FREAX) before investing.
A number of AMO members had also requested a Treasury Inflation-Protected Securities (TIPS) mutual fund as an investment option. TIPS are bonds issued by the US Treasury that pay a coupon on the adjusted principal of the bond. The bond is adjusted on a semi-annual basis with the rate of the Consumer Price Index (a measure of inflation). So, TIPS are said to keep pace with inflation by returning the adjusted principal upon maturity and coupon payments along the way. After evaluating a number of options in this investment sector, it was decided to add BlackRock Inflation Protected Bond A (BPRAX) to the plans. The investment seeks to maximize real return, consistent with preservation of real capital and prudent investment management. The fund invests at least 80% of assets in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations. Please check out http://www1.blackrock.com/default.aspx?cmty=ind for more information on BlackRock Inflation Protected Bond A (BPRAX) before investing.
FUNDS BEING REPLACED ON PLAN'S INVESTMENT MENU
| Name of Fund Being Removed: | Ticker Symbol | Name of Replacement Fund (Balances & Future Contributions will Move From Removed Fund to the Below-Listed Fund): | Ticker Symbol |
| Pioneer Mid Cap Value A | PCGRX | Victory Established Value A | VETAX |
All current investments and future contribution elections to Pioneer Mid Cap Value A will be replaced as addressed directly above from August 16-18, 2010, unless you have provided different instructions to the plan record keeper, Newport Group, prior to the change. If you wish to provide different instructions to Newport Group, you may do so using their participant web site or phone center. The above-listed fund change will be automatic; no action is required on your part. Please view http://www.victoryconnect.com/vcn/home.jsp to access more detail regarding Victory Established Value A (VTEAX)
CHANGES TO THE INVESTMENT MODEL PORTFOLIOS: The plans have 4 risk-based model portfolios (ranging from "conservative" to "aggressive") that are available to participants. Any model allocations currently going to the fund being removed will automatically switch to the replacement fund noted above. There will be an automatic one-time realignment (rebalancing) of these models, reflecting the new funds and the targeted asset allocations (which are specified on the Newport Group website, plandestination.com). Assuming you are using a model portfolio and wish to have your account reflect the new fund and targeted asset allocation, no action is required on your part.
There will be a very brief transactional blackout period for the plans, on Monday, August 16 and Tuesday, August 17, 2010, ending the following day. During this blackout period you will have "inquiry" access only, meaning you will be able to view your account online, but you will be unable to request fund transfers. For this reason, it is very important that you review and consider the appropriateness of your current investments. For your long-term retirement security, you should give careful consideration to the importance of a well-balanced and diversified investment portfolio, taking into account all your assets, income and investments.
If you have questions related to this, or any other investment matters, please call one of our investment representatives from Morgan Stanley Smith Barney:
Larry Goldstock, Samuel Brandwein or anyone on their team at (800) 975-7061.