If you don't know where to start your Stable Value fund analysis or what criteria to consider, we've got you covered. The criteria below are suggested criteria by Broadridge, which, at a minimum, we feel demonstrates a prudent analysis.
Display Fields
- Data As Of Date: The quarter end date the stable value fund was updated.
- Fund AUM: Assets currently under management for this particular product. Includes all share class variations.
- Inception Date: Inception date of the product.
- Objective: Stated objective for this product.
- Plan Type Availability: The list of plan types this product can be used within.
- Wrap Providers/Portfolio Issuers: A concatenated list of provider names which are issuing wrap contracts for this product.
Score Criteria
- Total Expense Rank: The percentile rank of the Total Expense Ratio within it's peer group. 1 being the cheapest and 100 being the most expensive.
- Competing Funds Provision: A yes/no indication as whether this product has a competing fund provision or not. In most cases, a competing fund such as a money market or short-term bond fund is allowed if an Equity Wash is in place.
- Equity Wash: A yes/no indication as whether this product has an equity wash or not. An equity wash is a contractual provision in stable value that requires any transfer a participant makes from stable value to a competing option (for example, a money market fund or a short-term bond fund) to first invest in another investment option not designated as a competing option for a period of time, usually 90 days. This provision is designed to reduce arbitrage, thereby protecting the participants and the stable value returns over the long term
- Max Put Provision: The product's # of months that is applicable for their put provision. A stable value put provision describes the ability of a plan to exit a stable value fund at contract value, subject to a specified notice period such as 12 months.
- Recordkeeper Availability: A list of specific recordkeeping products in which this product is available.
- # Wrap Providers: The number of wrap providers which are issuing wrap contracts for this product.
- Manager Tenure: The number of years in which the most senior manager has been in place for this product.
- 3yr Return Rank: The percentile rank of the 3yr Return within it's peer group. 1 being the highest return and 100 being the lowest return.
- 5yr Return Rank: The percentile rank of the 5yr Return within it's peer group. 1 being the highest return and 100 being the lowest return.
- Gross Crediting Rate: The interest rate on the book value balance of a stable value product before adjusting for expenses and any special provision of the product. As determined by the contract, the crediting rate may remain fixed for the term of the transaction or may be reset at predetermined intervals. It is commonly referred to as the effective annual yield.
- Market to Book Ratio: This ratio takes the book value (value of deposits, plus accumulated interest, minus withdrawals) divided by the market value (amount an investment would be worth if it were sold at a specific time). A ratio higher than 100 is preferable. A ratio lower than 100 indicates that the value of the investments has fallen below the dollar amount contributed by participants (book value).