The Directed Account Plan Board of Directors has terminated the First Eagle Overseas and Century Small Cap Select Instl. funds in December. These funds were terminated due to consistent poor performance. The fund, ishares Morningstar Small Growth Index, was added to the Diversified Small Co. Stock Option this month. A rebalancing of the International Stock and Diversified Small Cap Stock Options has resulted in the following target allocations:
| Allocation | ||
| International Stock Option Managers | Before | Current |
| First Eagle Overseas (sgoix) – terminated | 12% | 0% |
| American Century International Discovery (twegx) | 10% | 10% |
| American Century International Growth (twiex) | 10% | 10% |
| Templeton Instl. Foreign Equity (tfeqx) | 12% | 12% |
| Oppenheimer Intl. Small Co. A (osmax) | 10% | 10% |
| Thornburg Intl. Value (tgvix) | 12% | 12% |
| Marsico Intl. Opportunity (miofx) | 8% | 12% |
| Dimensional Emerging Markets Value (dfevx) | 8% | 8% |
| Royce International Value (rivfx) | 4% | 4% |
| BGI EAFE Index – separately managed | 14% | 22% |
| Allocation | ||
| Diversified Small Co. Stock Option Managers | Before | Current |
| Century Small Cap Value Instl. (csmcx) – terminated | 15% | 0% |
| Royce Opportunity (rypnx) | 15% | 15% |
| Dimensional US Micro Cap Portfolio (dfscx) | 15% | 15% |
| Third Avenue Small Cap Value (tascx) | 15% | 15% |
| Legg Mason Opportunity (lmofx) | 10% | 10% |
| Morgan Stanley US Small Cap Value Instl. (mpscx) | 10% | 10% |
| iShares Morningstar Small Growth Index (jkk) | 0% | 15% |
| BGI Small Company Index – separately managed | 20% | 20% |