The funds were selected using qualitative and quantitative criteria, Securian reported. The Due Diligence Committee’s review focused on the fund’s expenses, risk adjusted performance, and whether their asset managers followed a consistent investment process that was backed by stable investment firms.
The new options and their underlying investments are:
- Long-Term Bond I2 — PIMCO Long Duration Total Return Fund, Institutional Class (primarily for defined benefit plans)
- Global Allocation I1, 2 – BlackRock Global Allocation Fund, Institutional Shares
- Large Growth Equity XIV – BlackRock Capital Appreciation Fund, Institutional Shares
- Mid-Cap Value Equity V3 – American Century Mid Cap Value Fund, Institutional Class
- Small-Mid Equity I3 – Eaton Vance Atlanta Capital SMID-Cap Fund, Class A
- Small Value Equity XVI3 – AllianceBernstein US Small Cap Value
- Small Value Equity XVII3 – DePrince, Race & Zollo Small-Cap Value
- International Core V1 – Manning & Napier Fund, Inc. Overseas Series
- Health Care Equity III4 – T. Rowe Price Health Sciences Fund
- Natural Resources II1, 3, 4, 5 – Nuveen Tradewinds Global Resources Fund, Class I
- Social Equity III1, 3, 6 – Pax World Global Green Fund, Institutional Class
- International Growth IV1, 5 – Invesco International Growth Fund, Institutional Class
The products are offered through a group variable annuity contract issued by Minnesota Life Insurance Company. All fund company allowances are allocated back to participants daily.
“We identified high priority asset classes within our array, based on our own assessment and client and adviser feedback,” said Kent Peterson, CFA, FSA, AIF, Securian Retirement. “The new options either expand the depth of our offerings in a given asset class or replace options that no longer meet our standards.”