In an effort to better align with the sub-asset classes that fall under the guidance of BOK Financial’s Asset Allocation Committee and to reduce tracking error from specific managers, we removed funds from several pooled funds and adjusting allocations accordingly.
These changes will remove corporate bond-specific allocations from the UPAL Short Term Income and UPAL Core Bond funds. They also will remove the small cap exposure from the UPAL International Fund and the global REIT allocation from the UPAL Global Public Real Estate Fund.
TACTICAL ALLOCATION CHANGES
UPAL Short-Term Income Fund
remove the DFA Short-Term Extended Quality I from the Fund and allocate 100% of its holdings to the Vanguard Short-Term Bond Index I.
UPAL Core Bond Fund
Remove the Vanguard Interm-Term Corp Bd ETF from the Fund and allocate 25% to the Vanguard Total Bond Market Index I, 62.5% to the Federated Hermes Instl High Yield Bd R6 and 12.5% to the Vanguard Total Intl Bond Idx Admiral™.
UPAL International Equity Fund
Remove the DFA International Small Company I from the Fund and allocate 100% to the Vanguard Developed Markets Index Instl Fund.
UPAL Global Public Real Estate Fund
Remove the Vanguard Global ex-US Real Est ETF from the Fund and allocate 100% to the Vanguard Real Estate Index Admiral Fund.