| Fixed Income | Large Cap Value | Large Cap Growth | Foreign | Small Company | Portfolio | |
| Stable Value Option | 0.7% | |||||
| BlackRock Instl. Money Market Fund CIT | 0.2% | |||||
| Cash/CDs | 0.3% | |||||
| Invesco Managed Account | 0.8% | |||||
| Benchmark | ||||||
| BC US Govt. 1-3 Yr | 0.9% | |||||
| Value Stock Option | 1.4% | |||||
| BlackRock Value Index CIT | 3.7% | |||||
| T. Rowe Price Value | 0.7% | |||||
| Goldman Sachs Mid Cap Value Instl. | 1.2% | |||||
| JP Morgan Equity Income Fund R6 | 3.7% | |||||
| Benchmark | ||||||
| Russell 1000 Value | 3.8% | |||||
| Equity Index Option | 1.6% | |||||
| Benchmark | ||||||
| Russell 3000 | 1.6% | |||||
| Growth Stock Option | -3.4% | |||||
| BlackRock Growth Index CIT | 0.0% | |||||
| T. Rowe Price Growth Stock | -5.7% | |||||
| Primecap Odyssey Growth | -5.3% | |||||
| Wellington Mid Cap Opportunities CIT | 1.7% | |||||
| Broad Run Mid Cap Growth SA | 1.9% | |||||
| Benchmark | ||||||
| Russell 1000 Growth | -0.2% | |||||
| International Stock Option | 2.5% | |||||
| BlackRock ACWI ex-US IMI Index CIT | 2.2% | |||||
| Templeton Foreign Series | -1.5% | |||||
| Thornburg Intl Value Instl. | -2.0% | |||||
| MFS Intl. Value Equity Fund CIT | 2.7% | |||||
| DFA Emerging Markets Value Instl. | 11.8% | |||||
| Brandes International Small Cap Equity | 3.9% | |||||
| Benchmark | ||||||
| MSCI ACWI Ex-US IMI (net) | 2.4% | |||||
| Diversified Small Company Stock Option | -0.6% | |||||
| BlackRock Small Company Index | 0.3% | |||||
| DFA U.S. Micro Cap Portfolio Instl. | 2.0% | |||||
| Royce Opportunity | 4.6% | |||||
| Brown Capital Mgmt. Small. Co. Install. SA | -6.6% | |||||
| Buffalo Small Cap | -5.7% | |||||
| Mutual of America Disciplined Small Cap Value SA | 1.0% | |||||
| Walthausen Small Cap Value | 4.4% | |||||
| Benchmark | ||||||
| Russell 2000 | 0.0% | |||||
| Retirement Model | 1.0% | |||||
| Benchmark | ||||||
| Retirement Composite Index | 1.3% | |||||
| Conservative Model | 1.1% | |||||
| Benchmark | ||||||
| Conservative Composite Index | 1.7% | |||||
| Moderate Model | 0.5% | |||||
| Benchmark | ||||||
| Moderate Composite Index | 1.5% | |||||
| Aggressive Model | 0.4% | |||||
| Benchmark | ||||||
| Aggressive Composite Index | 1.4% |
Archive for May, 2016
2016 April Detailed YTD Performance
Thursday, May 19th, 2016New tab on the DAP homepage – DAP Enhancements
Wednesday, May 18th, 2016There is a new tab on the homepage of your www.dapretirement.com web site. All of the communication for the important enhancements coming to your DAP 401(k) Plan this fall will be available here! The updates we’re making are the result of a comprehensive review by our investment consultant and the DAP Board of Directors. We will, of course, continue to offer participants our very popular DAP Stable Value Option and the four Model Portfolios. The enhancements will provide a simplified fund selection, broad solutions for all types of investors, and maximize cost effectiveness for affordability.
Your first quarter Heads Up newsletter was posted to this page already. It introduced you to the enhancements with a letter from the Chairman of the Board. You will receive the second quarter Heads Up newsletter the week of July 20th. This newsletter will outline what is happening, when, and describe the new fund lineup. You will receive a detailed brochure in August that will review the information covered in your Heads Up newsletters. It will also provide information describing how your investments and contributions will be mapped to the new funds (does not apply to the Stable Value Option, the Model Portfolios or the Brokerage Option). You will learn how to take action if you want to change your investments prior to the fund changes. This brochure will also highlight key dates for certain transactions prior to the quiet periods. We will also mail you a reminder in September. Again, all of these mailings will be posted under this new tab named “DAP Enhancements”.
I look forward to sharing more detailed information with you this summer about these exciting updates!
Michelle Silberberg
The Directed Account Plan
Executive Director
Manager Change in the Growth Stock Option
Monday, May 9th, 2016The Marsico Focus Fund was terminated and removed from the Growth Stock Option on 4/29/16. The fund was terminated due to consistent under performance to the fund benchmark. The funds were moved into the Growth Stock Option’s index fund – BlackRock Growth Index until the board finds a suitable replacement fund. The new Growth Stock Option target allocation is as follows:
| Manager | Previous Target Allocation | New Target Allocation effective 4/29/16 |
| Marsico Focus | 20% | 0% |
| Broad Run Mid Cap Growth | 10% | 10% |
| Wellington Mid Cap Opportunities | 10% | 10% |
| T. Rowe Price Growth Stock | 20% | 20% |
| Primecap Odyssey Growth | 20% | 20% |
| BlackRock Growth Index | 20% | 40% |
May 2016
Tuesday, May 3rd, 2016| Stable Value | Value Stock | Equity Index | Growth Stock | Intl. Stock | Div. Small Co.Stock | Retirement Portfolio | Conserv Portfolio | Moderate Portfolio | Aggressive Portfolio | |
|---|---|---|---|---|---|---|---|---|---|---|
| 02 | 295.96 | 727.21 | 713.27 | 640.93 | 468.69 | 823.78 | 127.70 | 442.31 | 567.05 | 613.37 |
| 03 | 295.97 | 720.07 | 706.24 | 635.97 | 463.33 | 812.87 | 127.44 | 440.58 | 563.32 | 608.14 |
| 04 | 295.99 | 715.64 | 702.04 | 631.53 | 458.09 | 806.44 | 127.26 | 439.54 | 560.63 | 604.40 |
| 05 | 296.01 | 715.72 | 701.60 | 630.12 | 457.14 | 801.90 | 127.24 | 439.51 | 559.98 | 603.28 |
| 06 | 296.06 | 717.56 | 704.12 | 631.94 | 456.88 | 805.67 | 127.32 | 440.09 | 561.00 | 604.64 |
| 09 | 296.07 | 717.25 | 704.75 | 634.27 | 455.49 | 807.16 | 127.31 | 440.15 | 561.28 | 604.98 |
| 10 | 296.09 | 726.31 | 713.43 | 641.63 | 460.12 | 814.97 | 127.62 | 442.33 | 565.47 | 610.40 |
| 11 | 296.11 | 721.02 | 706.76 | 635.44 | 460.11 | 805.73 | 127.46 | 440.88 | 562.62 | 606.59 |
| 12 | 296.12 | 720.90 | 706.21 | 633.82 | 458.37 | 800.97 | 127.43 | 440.82 | 561.79 | 605.21 |
| 13 | 296.18 | 714.39 | 700.52 | 630.21 | 454.68 | 796.44 | 127.24 | 439.37 | 559.14 | 601.74 |
| 16 | 296.19 | 720.73 | 707.59 | 637.41 | 456.61 | 805.58 | 127.45 | 441.03 | 562.55 | 606.26 |
| 17 | 296.21 | 715.39 | 700.91 | 630.52 | 456.42 | 792.52 | 127.29 | 439.57 | 559.31 | 601.72 |
| 18 | 296.23 | 716.42 | 701.23 | 633.22 | 455.18 | 796.18 | 127.29 | 439.75 | 559.93 | 602.60 |
| 19 | 296.24 | 713.85 | 698.36 | 629.29 | 451.28 | 789.85 | 127.17 | 439.10 | 557.86 | 599.62 |
| 20 | 296.30 | 718.81 | 703.63 | 635.77 | 454.82 | 802.06 | 127.38 | 440.40 | 561.24 | 604.43 |
| 23 | 296.31 | 717.25 | 702.24 | 634.37 | 454.43 | 802.59 | 127.34 | 440.05 | 560.71 | 603.86 |
| 24 | 296.33 | 726.33 | 712.31 | 644.92 | 458.12 | 820.15 | 127.66 | 442.42 | 566.04 | 611.22 |
| 25 | 296.35 | 732.27 | 717.25 | 648.46 | 462.57 | 824.01 | 127.87 | 443.76 | 568.63 | 614.58 |
| 26 | 296.36 | 731.49 | 717.01 | 647.78 | 464.37 | 822.72 | 127.89 | 443.65 | 568.56 | 614.52 |
| 27 | 296.43 | 734.97 | 720.56 | 652.10 | 464.23 | 831.85 | 128.01 | 444.58 | 570.62 | 617.43 |
| 30 | Memorial Day Holiday (Market Closed) | |||||||||
| 31 | 296.45 | 734.53 | 720.36 | 652.24 | 463.85 | 835.07 | 128.00 | 444.51 | 570.75 | 617.78 |
| May Fund Performance (in percentages) | ||||||||||
| 0.18% | 1.71% | 1.79% | 2.34% | -0.91% | 2.23% | 0.36% | 0.80% | 1.06% | 1.22% | |