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OPERS Stable Value Fund Release Date:09-30-2019 OPERS Stable Value Fund .......................................................................................................................................................................................................................................................................................................................................... Benchmark Overall Morningstar Rating™ Morningstar Return Morningstar Risk USTREAS T-Bill Cnst Mat Rate 3 Yr QQQ Average Low Rated against 488 Short-Term Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details. Investment Strategy Performance The Stable Value Fund seeks to preserve principal value and 20 Total Return% provide a relatively stable rate of return comparable to 15 as of 09-30-19 investment grade intermediate fixed income yields over two 10 Investment Benchmark to four years. 5 The Fund invests in a diversified portfolio of stable value 0 contracts issued by banks, insurance companies and other -5 financial institutions and a variety of fixed income -10 Average annual, if greater instruments included U.S. Government and agency -15 securities, mortgage-backed securities, asset-backed than 1 year securities and corporate bonds. The return is affected by the YTD 1 Year 3 Year 5 Year 10 Year Since Inception general level of interest rates as well as cash flows, 1.91 2.54 2.24 2.02 2.12 3.61 Fund Return % including those from participant contributions, withdraws 4.15 6.14 1.33 1.29 1.12 2.02 Benchmark Return % 4.08 4.57 2.11 1.83 2.23 2.21 Category Average % and transfers into and out of the Fund. .......................................................................................................................................................................................................... QQQ QQQ QQQ . Morningstar Rating™ Category Description: Stable Value . 488 436 277 . # of Funds in Category Stable value funds seek to provide income while preventing price fluctuations. The most common stable value funds invest in a diversified portfolio of bonds and enter into YTD YTD YTD YTD YTD YTD wrapper agreements with financial companies to guarantee Growth of $10,000 as of 09-30-19 Investment : $12,611 Benchmark: $11,154 25 against fluctuations in their share prices. The safety of these 20 funds therefore depends on both the fund’s investments as 15 well as the financial strength of the insurance companies and banks that back the wrapper agreements. 10K 5 Volatility Analysis 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 09 - 19 Risk: Below Average In the past, this investment has shown a relatively small Portfolio Analysis as of 06-30-19 range of price fluctuations relative to other investments. Composition as of 09-30-19 % Assets Morningstar Fixed Income Style Box™ as of 06-30-19 Based on this measure, currently more than two thirds of all High U.S. Stocks 0.0 investments have shown higher levels of risk. Consequently, Non-U.S. Stocks 0.0 this investment may appeal to investors looking for a Med Bonds 0.0 conservative investment strategy. Cash 100.0 Low Other 0.0 Operations Ltd Mod Ext Expense Ratio 0.38% of fund assets Fund Inception Date 12-31-02 Total Fund Assets ($mil) 118.23 Portfolio Manager(s) Team Invesco ................................................................................................ Management Company Invesco Notes The average expense ratio is approximately 38 bps. This fee includes stable value management, investment manager, wrap contracts and custody costs. Investors’ returns are reduced by these fees and the annualized investment performance is reported after the deduction of these fees. ® TM ©2019 Morningstar, Inc., Morningstar Investment Profiles 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or ® its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Past performance is no guarantee of future performance. Visit our investment website at ß www.morningstar.com..
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