LA Deferred Comp Plan Preparing Government Money Market Mutual Fund Search

The Los Angeles Deferred Compensation Plan recently reviewed screening criteria for an upcoming Government Money Market Mutual Fund search.

A recommendation to conduct the search was approved at the April board meeting. 

According to meeting materials, Mercer suggests the following criteria:

• Net Prospectus Expense Ratio: Select the cheapest quartile (25%) of all funds (currently 0.20%)
• 7-day Sec Yield: Select highest quartile (25%) of all funds: (currently 5.17%)
• Fund Asset Size: $50 billion or greater
• Fund Inception: At least 10 years of track record

Next steps include the search and evaluation process of candidates.

Investment consultant, Mercer, is assisting.

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