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Monitoring Report
Performance
Risk
Style / Operations
Security Name
3Yr
5Yr
10Yr
3Yr
Sharpe
5Yr
Sharpe
5Yr Up
Capture
5Yr
Down
Capture
Style
Drift
R-Sqrd
5Yr
Mgr
Tenure
AUM
(MM)
Exp
Rat
Pass
Watch
Action
Domestic Equity
T. Rowe Price Equity Income I
6.20 12.75
5.68
0.57
1.17
92.34
100.70
LV 97.03
1.17
22,691 0.58
Watch
Morningstar Large Value
6.56 13.25 5.52 0.59 1.14 92.64 105.97
-
90.86 8.95 4,716 0.97
Rank in Category
70 60 45 65
51 62 60
-
-
-
-
13
Commentary:
T. Rowe Price Equity Income is on watch for the fourth quarter of 2016 for its intermediate underperformance, risk-adjusted measurements, up and down capture
ratio ratings, and recent changes within the management team. The fund’s trailing total returns rank in the bottom half of its large value peers over the recent three-
and five-year periods. Poor performance in 2014-15 continues to inhibit the fund’s rating due to stock selection and overweight positions within the utilities and
consumer discretionary sectors. As evidenced by the up and down capture ratio violations, this fund has struggled to keep pace with its benchmark during up and
down periods in the market. Finally, John Linehan replaced Brian Rogers as portfolio manager in November 2015. Since Linehan took over the fund, it has managed
to outperform its category peers and S&P 500 Index benchmark in each quarter of 2016. As we evaluate the fund’s record in the context of the recent
developments, we believe it is improving under new management and recommend its retention. We will monitor its progress with scrutiny on the watch list going
forward.
Vanguard Value Index Adm
9.45 14.98 5.98 0.90 1.41 97.92 93.23
LV 98.61 22.08 50,821 0.08 Pass
Morningstar Large Value
6.56 13.25 5.52 0.59 1.14 92.64 105.97
-
90.86 8.95 4,716 0.97
Rank in Category
7
9 36
7
4 36 78
-
-
-
-
1
Vanguard Windsor™ II Admiral™
6.95 13.32 5.78 0.64 1.22 95.94 104.05
LV 96.59 13.08 46,954 0.26 Pass
Morningstar Large Value
6.56 13.25 5.52 0.59 1.14 92.64 105.97
-
90.86 8.95 4,716 0.97
Rank in Category
50 48 42 50 38 46
47
-
-
-
-
4
Calvert US Large Cap Core Rspnb Idx I
8.60 15.28 6.88 0.78 1.34 104.27 104.56
LB 97.02
1.58
868 0.19 Pass
Morningstar Large Blend
6.85 13.63 6.20 0.63 1.19 96.15 106.45
-
93.89 8.49 7,462 0.92
Rank in Category
11
5 23 21 11 12
47
-
-
-
-
7
Vanguard Institutional Index I
8.85 14.63 6.95 0.83 1.36 99.93 100.09
LB 100.00 16.08 211,496 0.04 Pass
Morningstar Large Blend
6.85 13.63 6.20 0.63 1.19 96.15 106.45
-
93.89 8.49 7,462 0.92
Rank in Category
6 15 21
6
5 29 75
-
-
-
-
2
Funds listed in
Blue
are alternative funds. Funds listed in
Green
are fund additions.