- November 24, 2023
- Posted by: legaleseblogger
- Category: Related News
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Federal Retirement Thrift Investment Board Approves New Benchmark Index for the I Fund
The Federal Retirement Thrift Investment Board has recently approved a new benchmark index for the International Fund (I Fund) within the Thrift Savings Plan (TSP). This change will impact federal employees and members of the uniformed services who participate in the TSP and have investments in the I Fund.
The decision to change the benchmark index for the I Fund is a significant development that has the potential to impact the investment strategies of TSP participants. As a result, it is essential for individuals to stay informed and understand how this change may affect their retirement savings.
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Using AI Legalese Decoder, TSP participants can gain a better understanding of the details surrounding the new benchmark index for the I Fund and how it may impact their investment portfolio. This can help individuals make more informed decisions about their retirement savings and adjust their investment strategies accordingly.
By leveraging the capabilities of AI Legalese Decoder, TSP participants can stay ahead of the curve and proactively manage their investments in light of the changing landscape of the I Fund. With the help of this tool, individuals can ensure that they are well-equipped to navigate the impacts of the new benchmark index and make decisions that align with their financial goals and objectives.
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****** just grabbed a
Sure wish they would have a true international fund. Politics don’t belong in portfolio management.
The funds shouldn’t be too different, but the new one is slightly more diversified. It’s also trending more towards small/mid cap companies (average market cap going from 17m to 4m). I think it’s a positive, but insignificant change. It’s about time we stopped excluding Canada (and Taiwan) from the TSP.
Old:https://www.msci.com/documents/10199/4753a237-7f5a-4ef6-9f2b-9f46245402e6
New:https://www.msci.com/documents/10199/7997f714-2b51-d7fb-dca2-ed9ff978d508#:~:text=The%20MSCI%20ACWI%20IMI%20ex,countries*%20(excluding%20China).
It is a step in the right direction but without China, one of the largest foreign markets, it will not be a proper total international fund. I wish the government would keep politics out of our investments. The argument that the government should not support China with taxpayer dollars is utter nonsense. The money in the TSP does not belong to the government and was not put in at the government’s discretion. It is our money as the individuals who earned it and we chose to contribute and invest it. I still think the TSP should switch to either the MSCI ACWI ex USA IMI Index or the FTSE Global All Cap ex US Index.
Thanks for sharing! I hadn’t seen this before now.
This part is funny: “The Board noted that the MSCI ACWI IMI ex USA ex China ex Hong Kong Index is expected to outperform the MSCI EAFE Index on a risk-adjusted basis over the long term. Historical analysis confirmed that the risk-adjusted returns for the MSCI ACWI IMI ex USA ex China ex Hong Kong Index have exceeded those of the MSCI EAFE Index over the past twenty years.”
1) How do they know it will outperform?* Especially because this fund only launched in June 2023 and MSCI gives the disclaimer, “There are frequently material differences between back-tested performance and actual results.”
2) Even if the back tested performance was accurate, whatever happened to past performance is no guarantee of future results?
*A couple of decades ago I’m guessing many people have thought the S&P 500 would have out performed the NASDAQ 100. Nope, not even close. More diversification isn’t *always* better.
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BTW, I’m in favor of the change. I just got a chuckle out of the above paragraph.
With more diversification and now that the fund will be including “approximately 99% of the global equity opportunity set outside the US, China & Hong Kong”, I wonder if more people will start including the I Fund in their portfolio in 2024.
I wish there was a matching ETF for this where I could compare the performance of each. The closest you can get is ACWI, but, that includes the countries that are excluded from this index. The Magnificent Seven stocks have really driven the performance of this index so it wouldn’t be a fair comparison.