The constructon industry was double digit down in 2009 and that included the company stock for Granite Construction GVA in this 401k plan. Last year the Balanced portfolio had 22.9% of the portfolio in GVA and this year only 3.0% which would be a big concern for most retirees. The plan has many good investment options and the Balanced portfolio invested in 11 of them this year. That portfolio has an impressive 5yr Sharpe ratio of 1.00 without a stable value fund. The employee portfolio still has GVA as its largest holding and that did not help. The stock is down another 25.8% year-to-date in 2010.
No comments:
Post a Comment