The Directed Account Plan Board of Directors terminated the Legg Mason Opportunity Fund in the Diversified Small Co. Stock Option. This fund was terminated due to consistent poor performance. The assets were temporarily reallocated to the BGI Small Company Index until a suitable small cap growth manager replacement is found. A rebalancing of the Diversified Small Cap Stock Options has resulted in the following target allocations:
| Allocation | ||
| Diversified Small Co. Stock Option Managers | Before | Current |
| 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) – terminated | 10% | 0% |
| 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% | 30% |