The Balanced Portfolio allocates contributions equally between the Blended Equity Portfolio and the Fixed Income Fund. It’s designed for those who seek a broadly diversified portfolio with an asset allocation that doesn’t change over time.
Our eight fund options give you a wide range of choices across the risk/return spectrum, allowing you to diversify according to your level of comfort. When choosing an investment mix, it is important to evaluate how much volatility you are able to tolerate. You may change your investment allocation for new contributions at any time, but the existing balance may be reallocated only twice per calendar year.
Summary: This fund invests in short-term, high-quality fixed income securities in the highest rated short-term category to provide competitive returns with less risk.
Objective: The fund seeks to provide, in priority order, safety, liquidity and returns comparable to short term instruments with minimization of risks.
Strategy: The fund invests exclusively in short-term, high-quality fixed income securities in the highest rated short-term category according to one or more of the nationally recognized statistical rating organizations (or of comparable quality). The Portfolio seeks to maintain a stable net asset value of $1.00 and a weighted average maturity of 60 days or less, with the maximum maturity of 762 days for government floating rate notes/variable rate notes and will not exceed 397 days for other securities. Due to the low interest rate environment, the Florida Prepaid College Board approved and allowed the administrative fee (75 basis points) to be reduced for the fund. The current administrative fee established is approximately 10 basis points and may fluctuate.
Summary: This fund is an actively managed bond fund that includes investments in U.S. Treasury and U.S. Government Agency obligations, as well as, corporate debt instruments.
Strategy: This fund is primarily invested in fixed income securities issued or guaranteed by the U.S. Government, its agencies, or instrumentalities, and corporate debt instruments, including but not limited to asset-backed and mortgage-backed securities rated not less than Baa3/BBB- by two or more nationally recognized rating services. The fund attempts to find
securities that offer relative value, based on an assessment of real interest rates and the yield curve, and that have the potential for moderate price appreciation.
Strategy: The fund is a passively managed U.S. equity fund that utilizes a replication construction technique. That is, the fund attempts to replicate the S&P 500 Index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in the same proportion as its weighting in the index. The index is capitalization-weighted, with each stock weighted by its proportion of the total market value of all 500 issues. Thus, larger companies have a greater effect on the index.
Summary: This fund invests in large capitalization growth companies that are generally valued at $10 billion or more and present greater-than-average earnings potential.
Objective: The fund seeks to provide meaningful growth of capital by investing in large capitalization growth stocks.
Strategy: The fund is an actively managed U.S. equity strategy that seeks investments in companies believed to exceed investor expectations. The fund utilizes a consistent and disciplined investment process that is driven by bottom-up, fundamental analysis. Stocks that are included typically exhibit higher revenue and earnings growth rates, higher returns (equity, assets, cash flow), strong balance sheets and positive price momentum.
Objective: The fund seeks to provide meaningful growth of capital by investing in large capitalization value stocks.
Strategy: This fund is an actively managed U.S. equity strategy that employs a bottom-up, quantitative approach to identify attractive, undervalued companies in order to capitalize on the pricing discrepancies that exist between high- and low-expectation stocks. This fund seeks to capture this outperformance potential, with diversified holdings and making small active bets on a large number of stocks.
Summary: The Mid Cap Fund invests in mid-capitalization companies, generally valued between $1 billion and $15 billion.
Objective: The fund seeks to provide meaningful growth of capital by investing in mid-capitalization stocks.
Strategy: The fund is an actively managed U.S. equity strategy investing where mid-cycle estimates are well above expectations. The fund utilizes a proprietary calculation that incorporates a company’s economic balance sheet to invest where it finds the best intrinsic value.
Objective: The fund seeks to provide meaningful growth of capital by investing in small capitalization stocks.
Strategy: The fund is an actively managed U.S. equity portfolio investing with a “business owner” approach. That is, the fund approaches the valuation of each potential investment as a purchase of the company or business outright. The goal is to invest in companies that have a solid business franchise, but are trading below their intrinsic value (or the price a business owner or private buyer might pay for the company). The fund generally buys into a company when there is uncertainty and waits for the uncertainty to lift and the fundamentals to turn to realize returns.
Summary: This fund is an actively managed equity fund investing in stocks of international developed markets.
Objective: The fund seeks to provide meaningful growth of capital by investing in the stocks of
international developed markets.
Strategy: The fund is an actively managed equity fund that uses a proprietary alpha modeling approach to invest in international developed markets. “Developed Markets” are countries that have sound, well established economies and are, therefore, thought to offer more stable investment opportunities than developing markets. Developed markets represent stocks traded on the exchanges of Europe, Australia, New Zealand and the Far East. The fund believes that company stock performance is driven by different factors, and only uses the factors that are most relevant to the performance of each stock to build a unique alpha forecast model for each company in the investment universe. These forecast models are the basis for the portfolio construction process that creates a fund with the highest expected risk-adjusted return.