Tuesday, May 31, 2011

Sanofi-Aventis US 401k (SP) Plan PSDS Scan 12-31-2010



This plan was not helped by company stock SNY and the Balanced portfolio is another lifeboat portfolio. The largest holdings of that portfolio are the GIC, the bond fund PTTRX and the money market fund TSCXX with no money in the stock. The employee portfolio largest holding is the GIC with several Target Date funds like TRRCX having assets over 5% of the plan. A good plan and a company stock that has not done well the last 5 years.

Saturday, May 28, 2011

TD AMERITRADE 401k (PSPT) Plan PSDS Scan 12-31-2010



The TD AMERITRADE 401k plan was not helped by company stock AMTD this year and it is not on the Balanced portfolio. The employee portfolio invested 20.8% of that portfolio in the stock which is their largest holding. The plan has several good investment options and the Balanced portfolio has an above average 5yr return APR = 6.19% with a Sharpe ratio of 1.51. The Balanced portfolio also has a bit more money in Target Date retirement funds than other plans. That may simply be because the T.Rowe Price Retirement Date funds are above average.  All in all a good plan but with a company stock having a down year in 2010.

Friday, May 27, 2011

Massey Energy 401k (PSP) Plan PSDS Scan 12-31-2010



The Massey Energy 401k made an incremental improvement over last year and the Balanced portfolio now has all but one of the plan investment options. That said it is still a lifeboat portfolio with 59% of the plan still in the stable value fund SVF.hpx in the scan. Looking at the correlation chart each year suggests to me one of the plan investment options needs be repalced. Also, the stock MEE is way too volatile for a retiree but does have a postive 5yr Sharpe ratio of 0.050. A small plan that is good but could easily be much better.

Thursday, May 26, 2011

Aflac 401k (PSP) Plan PSDS Scan 12-31-2010



The Aflac 401k continues to be helped by company stock AFL and the Balanced portfolio invested 4.2% of that portfolio in the stock. The employee portfolio's three largest holdings were the stock AFL, the balanced fund DODBX, and the stock fund DODGX all over 5% of plan assets. The stable value fund SVF.hpx in the scan was their fourth largest holding and it was the largest holding of the Balanced portfolio. A small plan with a good stock that could use a few better equity fund options.

Wednesday, May 25, 2011

Greif Inc. 401k (RP) Plan PSDS Scan 12-31-2010



This company was founded in 1877 and is still doing well. The Balanced portfolio invested 5.4% of the portfolio in the stock GEF and the employee portfolio invested 24.7% of that portfolio in the stock. Most of the investment options are from MassMutual and their money market fund MKAXX was represented by VMVXX in the scan and their stable value fund was the Hueler index SVF.hpx in the scan. All in all  good plan and a good stock.

Tuesday, May 24, 2011

Safeway 401k Plan & Trust PSDS Scan 12-31-2010



The Safeway plan made a few changes after 2009. The trustee is now JP Morgan and a few funds were changed and Lifepath funds were added. The Balanced portfolio improved a little over last year and invested a small amount in the Lifepath funds. The GIC index GIC.ekx in the scan, the stable value fund FUNDG in the scan and the bond fund PTTRX are still the top 3 holdings. This is conservative plan and was not helped by company stock SWY.

Monday, May 23, 2011

Danaher Corp. 401k (RSP) Plan PSDS Scan 12-31-2010



The last scan for Danaher was 12-31-2008 and things have improved. Company stock DHR has a nice 5yr APR = 11.26% with a Sharpe ratio of 0.304 and the Balanced portfolio has all but 2 of the plan investment options in the scan. The employee portfolio's three largest holdings are the stable value fund FMIP in the scan at 21.7%, the money market fund FRTXX at 14.5%  and company stock DHR at 13.1%.  A good Fidelity plan and a good company stock.

World 20 ETF Sharpe Index 12-31-2010


The Sharpe Balanced portfolio has been used to create a monthly index that will be posted later this year. It is very similar to early World ETF versions but with a few changes to increase China options mostly. In this 5yr scan the difference between the Balanced Index and two other portfolios is evident. They are a Uniform portfolio and the current Market Cap portfolio. In rounded off numbers the three portfolios performance as of 12-31-2010 was,

Balanced    APR = 14%  STD = 8%  PSR = 1.5
Market Cap  APR = 12%  STD = 14%  PSR = 0.7
Uniform    APR = 8%  STD = 7%  PSR = 1.0

More later
      

Saturday, May 21, 2011

General Electric 401k (S&SP) Plan PSDS Scan 12-31-2010




This plan SEC 11-k report provides less information about the plan than most 401k plans. Information about the GE plan on the web indicates they made several changes in 2010 including a new record keeper, Fidelity, a new plan advisor Highland Funds Asset Management, several new Blackrock investment options and I believe a Roth 401k option. Company stock GE continues to have a negative 5yr APR and is not in the Balanced portfolio. As before most investment options are GE funds and the plan was helped a little by the new funds from Blackrock (Barclay is now owned by Blackrock).

Friday, May 20, 2011

International Flavors & Fragrances 401k (RIF) Plan 12-31-2010




This small plan was helped by company stock IFF and several Vanguard funds with VFINX the largest employee holding in a bit of a surprise. The Balanced portfolio has most of the 23 investment options in the portfolio which is conservative. All in all a conservative plan and a good company stock the last 5 years.

Thursday, May 19, 2011

Noble Energy 401k (TPSP) Plan PSDS Scan 12-31-2010




This plan continues to be helped by company stock NBL and the employee portfolio has 29.1% of that portfolio in company stock with the stable value fund FMIP in the scan their second largest holding. The Balanced portfolio has an above average 5yr APR = 6.85% with a Sharpe ratio of 1.21. The number of investment options is large and many good funds have almost no money invested in them and are not in the scan. The gold fund TGLDX is not in the scan for example. Interesting.

Wednesday, May 18, 2011

Chubb Corp. 401k (CAP) Plan PSDS Scan 12-31-2010




The Chubb 401k plan has changed little over last year. Company stock CB continues to be in the Balanced portfolio and almost all investment options are in that portfolio. The employee portfolio also has money in the stock but with more volatility because of their equity investments. A good plan and a good stock.

Tuesday, May 17, 2011

EXELON Corp. 401k (ESP) Plan PSDS Scan 12-31-2010




The EXELON 401k plan was not helped by company stock EXC which has a negative 5yr APR. The Balanced portfolio is a bit above average with 22 investment options in the scan including a stable value fund FMIP2 in the scan. The plan discontinued 2 funds after 12-31-2009 and those funds were automatically transferred to 2 other funds in the plan, PRWCX and a S&P 500 fund equity fund. A good plan but not a good stock the last 5 years.

Monday, May 16, 2011

Flowers Foods 401k (RSP) Plan PSDS Scan 12-31-2010




The Flowers Foods 401k plan continues to be helped by company stock FLO and the Balanced portfolio has it and the bond fund PTTRX and the stable value fund SVF.hpx in the scan as its largest holdings. The employee portfolio's largest holding is DODGX which is not even in the Balanced portfolio because it does not have a positive 5yr Sharpe ratio.  FLO is the  second largest holding in the employee portfolio.

Friday, May 13, 2011

El Paso Corp. 401k (RSP) Plan PSDS Scan 12-31-2010




This plan was not helped company stock EP because of off the chart 5yr volatility and low returns. The Balanced portfolio improved over last year and has an above average 5yr APR = 6.16% largely because of the emerging market fund LZEMX which is one of the best in that catagory. The JP Morgan Smart Retirement funds JSWAX etc. do not yet have 5yr data and were represented by the corresponding Vanguard target date retirement funds.  A good plan with a few legacy funds that should be replaced in my opinion. Check the Balanced fund asset allocation for details.