The Balanced portfolio is similar to last year but with a few more more funds in it and a 5yr APR = 4.63% with a Sharpe ratio of 1.40. The employee portfolio largest holding is the BGI Pension Strategy Fund represented by FUNDF in the scan. The BGI collective trust funds are in the US Government 401k plan where the 5yr data are posted. The employees have a small amount 2.6% in company stock GNW which is extremely volatile. This stock demonstrates how volatility kills compunding. The 5yr average return is 43.6% thanks to a 301.1% return in 2009 but the annualized 5yr return is -13.1% thanks to the other 4 years. It is simple arithmetic.
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