ICMA-RC

Investment Philosophy

We believe that in addition to traditional investment approaches such as diversification, asset allocation, and a long-term perspective, a multi-manager approach and investment style serve investors who are working to build retirement security.

 

In a multi-managed approach, managers with different but complementary investing approaches are selected and integrated within a single fund in proportions that are expected to optimize return relative to risk. We believe this not only increases diversification but also may improve the consistency of returns over time by eliminating reliance on the results of a single manager.

MissionSquare Retirement

Plan administrator and investment advisor

ICMA-RC Services, LLC

Broker-dealer, wholly owned subsidiary of MissionSquare Retirement

Vantagepoint Investment Advisers, LLC

Investment advisor to Vantagepoint Funds and wholly owned subsidiary of MissionSquare Retirement

Vantagepoint Transfer Agents, LLC

Wholly owned subsidiary of MissionSquare Retirement

VantageTrust Company, LLC

Trustee to Vantagepoint Funds and investment advisory client of Vantagepoint Investment Advisers, wholly owned subsidiary of MissionSquare Retirement

Vantagepoint Funds1

Objective and Strategy

Our investment strategy is designed to leverage people, process, and perspectives to help investors realize retirement security.

Team of Professionals

Disciplined Process

Independent Thought

Objective

Blend experienced investment managers to achieve the investment objective.

Risk & Return Characteristics

Risk & Return Characteristics

Principal Investment Strategy

Principal Investment Strategy

Asset Class

Asset Class

Management Style

Management Style

INVESTMENT OBJECTIVE

INVESTMENT OBJECTIVE

Our process is powered by

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Managers

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Mandates

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Funds

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Average manager tenure2

Data as of 3/31/2021

Expertise

Our team of investment professionals conduct independent selection and oversight of third-party institutional investment managers. These professionals have access to award-winning institutional managers with demonstrated expertise across all asset classes.

Diversification

Our team brings together a broad and diverse set of ideas, styles, and strategies for competitive performance in all market conditions. We work with a portfolio of complementary investment managers with distinct investment styles to provide attractive risk-adjusted returns.

Disciplined, Proven Process

Our process is marked by continuous manager research and due diligence,
thoughtful portfolio construction and asset allocation, and risk management and manager oversight. We have a history of systemized due diligence designed to decrease operational risks.

Investment Management

Subadviser Research & Due Diligence

  • Investment style and process
  • Quantitative screening and analysis
  • Qualitative analysis
  • In-house and on-site visit

Risk Management & Subadviser Oversight

  • Correlation
  • Relative performance
  • Evaluate strengths
  • Negotiate fees

Portfolio Construction & Asset Allocation

  • Continuous internal review
  • Adherence to investment style
  • Formal quarterly reviews
  • Periodic rebalancing
  • Termination/Replacement
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Capital Market Assumptions as of 3/31/2021

  • Assumptions are forward-looking with a 7- to-10 year timeframe.
  • Comprehensive, including the following asset classes: U.S. Large Cap Equity, U.S. Mid Cap Equity, U.S. Small Cap Equity, International Equity, Emerging Markets Equity, Stable Value, U.S. Short Duration Government/Credit Bonds, U.S. Aggregate Bonds, U.S. TIPS, and U.S. High Yield Bonds
  • Uses both qualitative and quantitative analysis.
  • Focuses on economic and fundamental building blocks that drive asset class returns.
  • Assumptions are based on current and potential market and economic conditions using historical experience as a guide.
Asset Class
Expected Return Expected Volatility
Equities
U.S. Large-Cap Equity 6.9% 14.6%
U.S. Mid-Cap Equity 9.0% 16.3%
U.S. Small-Cap Equity 7.6% 19.3%
International Equity 6.0% 16.3%
Emerging-Markets Equity 10.0% 21.7%
Fixed Income
Stable Value 1.2% 0.6%
U.S. Short Duration Government/Credit Bonds 1.2% 2.1%
U.S. Aggregate Bonds 1.2% 3.5%
U.S. TIPS 0.9% 5.4%
U.S. High Yield Bonds 2.1% 8.5%
U.S. Long-Duration Treasuries -0.1% 13.0%

Disclaimer

This website is for institutional use only and is not intended for individual investors or the general public.

The information contained on this website is for informational purposes only and is not intended as a solicitation nor does it constitute investment, tax or legal advice. Reference to any fund or asset class on this site is not a recommendation to buy, sell, or hold that fund or asset class. MissionSquare Retirement and its affiliates are not responsible for any investment action taken as a result of the information on this website or interpretation of such information.

Investors should carefully consider their own investment goals, risk tolerance and liquidity needs before making an investment decision. Investing involves risk, including possible loss of the amount invested. The Funds’ offering and disclosure documents include a complete summary of all fees, expenses, financial highlights, investment objectives and strategies, and risks, and should be carefully reviewed before investing.

Past performance is no guarantee of future results. Investment return and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher.

When Funds are marketed to institutional clients by our Investment Only (IO) team, the Funds are offered by ICMA-RC Services, LLC (RC Services), an SEC registered broker-dealer and FINRA member firm. RC Services is a wholly-owned subsidiary of MissionSquare Retirement and is an affiliate of VantageTrust Company, LLC and Vantagepoint Investment Advisers, LLC. View more information about RC Services: FINRA’s BrokerCheck.

1Vantagepoint Funds invest in a single VT III Vantagepoint Fund (VT III Funds). Vantagepoint Funds and VT III Funds are collective investment trust funds (CITs) established and maintained by VantageTrust Company, LLC (VTC), a wholly owned subsidiary of MissionSquare Retirement, a New Hampshire non-depository trust company, and the sole trustee of these CITs. Eligible retirement plans may invest in the Vantagepoint Funds, which are funds of VantageTrust. MissionSquare Retirement’s wholly owned subsidiary, Vantagepoint Investment Advisers, LLC (VIA), provides investment advisory and management services to VTC with respect to the Vantagepoint Funds and VT III Funds. The Vantagepoint Funds and certain VT III Funds invest in other funds managed and administered by MissionSquare Retirement or VIA. MissionSquare Retirement and VIA receive asset-based fees from such underlying funds in addition to the asset-based fees it received from the Vantagepoint and VT III Funds. Please see VIA’s Form ADV, available at www.adviserinfo.sec.gov, for more information.

2Each Vantagepoint Fund invests in a VT III Vantagepoint Fund that has the same investment objective and strategies. Prior to October 2016, each Vantagepoint Fund invested in a registered Vantagepoint Fund mutual fund that had the same investment objective and strategies. In October 2016, the Vantagepoint Fund mutual funds were liquidated and the assets were transferred to the VT III Vantagepoint Funds. In the event that a to the VT III Vantagepoint Funds was also a subadviser to the Vantagepoint Fund that preceded it, the average subadviser tenure with the VT III Vantagepoint Funds is calculated using both time periods.