PDF Balanced Investment Option

[Pages:2]Balanced Investment Option

Period Ending December 31, 2018

10.0% DEFENSIVE STRATEGIES

1.0% OIL & GAS ROYALTIES

4.0% REAL ASSETS

4.0% REAL ESTATE

Balanced Investments

$480 Million

29.5% LARGE CAP EQUITY

23.0% FIXED INCOME

8.5% SMALL CAP EQUITY

5.0% EMERGING MARKETS

15.0% INTERNATIONAL EQUITY

Percentages shown are per policy allocation and may fluctuate with market value changes. Balanced Fund spend policy is 4.0% based on a 3 yr. rolling average. TPF constantly strives to provide best in class, low-cost services, and our monthly valuations support these efforts by allowing us to effectively manage our operating costs while still continuing to provide valuable investment services.

Balanced Investment Option FUND OF FUNDS ANALYSIS

U.S. EQUITY INVESTMENTS TANGIBLE INVESTMENTS

NON U.S. EQUITY INVESTMENTS OIL & GAS ROYALTIES

FIXED INCOME INVESTMENTS DEFENSIVE INVESTMENTS

Large Cap Equity Fund

29.5% 5.9% LSV ASSET MGMT. (LARGE CAP VALUE) 5.9% EAGLE CAPITAL (LARGE CAP VALUE) 5.9% WILLIAM BLAIR (LARGE CAP GROWTH) 5.9% SANDS CAPITAL INVESTMENTS (LARGE CAP GROWTH) 5.9% PASSIVE ENHANCED INDEX (S&P 500)

Emerging Markets Fund

5.0%

2.5%

ABERDEEN EM EQUITY

2.5%

WELLS CAPITAL EM EQUITY

Small Cap Equity Fund

8.5%

2.9%

BURGUNDY (SMALL CAP VALUE)

2.8%

DISCIPLINED GROWTH (SMALL CAP GROWTH)

2.8%

KAYNE ANDERSON (SMALL CAP CORE)

Fixed Income Fund

23.0%

9.2%

BARROW HANLEY CORE PLUS

4.6%

BLACKROCK STRATEGIC INCOME

4.6%

LOOMIS SAYLES

4.6%

WESTERN ASSET

Real Assets Fund

4.0%

3.2%

PRINCIPAL GLOBAL INVESTORS, LLC

0.4%

RS INVESTMENT MGMT.

0.4%

LAZARD ASSET MGMT.

Oil & Gas Royalties

1.0%

1.0%

DIRECT ROYALTY INVESTMENTS

International Equity Fund

15.0%

7.5%

ARTISAN PARTNERS (INTL. GROWTH)

7.2%

SILCHESTER INTL INVESTORS (INTL. VALUE)

0.3%

HARRIS ASSOCIATES (INTL VALUE)

Real Estate Investment Fund

4.0%

2.0%

PRISA II

2.0%

INVESCO (CORE)

Defensive Strategies Fund

10.0%

2.5%

DIAMOND HILL (L/S EQUITY)

2.5%

EATON VANCE (FLOATING RATE)

2.5%

GATEWAY (EQUITY NEUTRAL)

2.5%

PIMCO (ALL ASSETS FUND)

ALL PERCENTAGES SHOWN ARE PERCENTAGES OF THE BALANCED FUND INVESTMENT. Percentages shown are per policy allocation and may fluctuate with market value changes. Balanced Fund spend policy is 4.0% based on a 3 yr. rolling average. TPF constantly strives to provide best in class, low-cost services, and our monthly valuations support these efforts by allowing us to effectively manage our operating costs while still continuing to provide valuable investment services.

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