INVESTMENT CHARACTERISTICS. The investment characteristics of the Asset Allocation Fund will depend upon subadviser asset allocation, which is intended to maximize risk-adjusted returns.
INVESTMENT CHARACTERISTICS. The Fund may have investment characteristics which differ from the general market, as measured by the Standard & Poor's 500 Index. For the total Fund, these would include, but are not limited to: CHARACTERISTIC RELATIVE TO S&P 500 INDEX Beta Similar Capitalization Somewhat Lower Dividend Yield Similar Hist. 5 year EPS Growth Similar Price to Earnings Ratio Similar Standard Deviation Similar
INVESTMENT CHARACTERISTICS. The Fund may have investment characteristics which differ from the general market, as measured by the Standard & Poor's 500 Index.. Because of the broad mandate given to the subadvisers in the Aggressive Opportunities Fund, investment characteristics may be expected to vary widely. For the total Fund, these would include, but are not limited to: CHARACTERISTIC RELATIVE TO S&P 500 INDEX Beta Higher Capitalization Lower Dividend Yield Lower Hist. 5 year EPS Growth Higher Price to Earnings Ratio Higher Standard Deviation Higher SCHEDULE B VANTAGEPOINT INVESTMENT ADVISERS, LLC AGGRESSIVE OPPORTUNITIES FUND INVESTMENT GUIDELINES FOR ROXBURY CAPITAL MANAGEMENT MARCH 16, 2001 Roxbury Capital Management LLC pursues high quality, growth companies that trade at a reasonable price. In general, companies selected are expected to grow their earnings on a sustainable basis at a rate of 15% or more per year, have experienced management, and a business that can continue to grow in a variety of market environments. Valuation tools, including price-to-earnings and cash flow, are used to attempt to avoid overpaying for growth. Portfolio holdings are concentrated (40-50 stocks). ELIGIBLE INVESTMENTS
INVESTMENT CHARACTERISTICS. The Fund may have investment characteristics which differ from the general international equity market as measured by the MSCI EAFE index. Because of the broad mandate given subadvisers in the International Fund, investment characteristics may be expected to vary widely. However, the beta of the Fund may be higher than the MSCI EAFE Index. SCHEDULE B VANTAGEPOINT INVESTMENT ADVISERS, LLC INTERNATIONAL FUND INVESTMENT GUIDELINES FOR LAZARD ASSET MANAGEMENT MARCH 1, 1999 Lazard Asset Management identifies financially productive companies that are inexpensively priced with an emphasis on undervalued markets around the world. Quantitative screens are combined with fundamental analysis to identify companies that meet Lazard's criteria for value, have demonstrated sustainable earnings, and have potential for future success. The management team then uses a risk-controlled process to construct a portfolio of 60 to 80 stocks that they believe represent the best potential for price appreciation. The portfolio tends to remain fully invested.
INVESTMENT CHARACTERISTICS. The Fund may have investment characteristics which differ from the general international equity market as measured by the MSCI EAFE index. Because of the broad mandate given subadvisers in the International Fund, investment characteristics may be expected to vary widely. However, the beta of the Fund may be higher than the MSCI EAFE Index.
INVESTMENT CHARACTERISTICS. The Equity Income Fund may have investment characteristics which differ from the general market, as measured by the Standard & Poor's 500 Index. For the total Fund, these would include, but are not limited to: CHARACTERISTIC RELATIVE TO S&P 500 INDEX Beta Lower Capitalization Somewhat Lower Dividend Yield Higher Hist. 5 year EPS Growth Lower Price to Earnings Ratio Lower Standard Deviation Lower
INVESTMENT CHARACTERISTICS. The investment characteristics of the Asset Allocation Fund will depend upon subadviser asset allocation, which is intended to maximize risk-adjusted returns. 23 20 SCHEDULE B VANTAGEPOINT INVESTMENT ADVISERS, LLC ASSET ALLOCATION FUND INVESTMENT GUIDELINES FOR PAYDXX & XYGEL INVESTMENT COUNSEL MARCH 1, 1999 Paydxx & Xygel Investment Counsel manages the cash portfolio of the Asset Allocation Fund, which is used by the tactically allocating subadvisers for outright cash allocations and for cash that underlies futures positions. Paydxx & Xygel seeks to generate a high level of current income while providing preservation of capital and liquidity.
INVESTMENT CHARACTERISTICS. The Fund may have investment characteristics which differ from the general international equity market as measured by the MSCI EAFE index. Because of the broad mandate given subadvisers in the International Fund, investment characteristics may be expected to vary widely. However, the beta of the Fund may be higher than the MSCI EAFE Index. SCHEDULE B VANTAGEPOINT INVESTMENT ADVISERS, LLC INTERNATIONAL FUND INVESTMENT GUIDELINES FOR ROWE XXXCX-XXXXXXX XXXERNATIONAL, INC. MARCX 0, 0000 Xxxx Xxxcx-Xxxxxxx Xxxernational Inc. uses fundamental research to select companies with above average growth potential at a reasonable price. Country exposures are based on a global economic outlook and the relative attractiveness of opportunities within individual countries. The management team then constructs a diversified portfolio using a combination of these top-down and bottom-up approaches. The portfolio tends to remain fully invested.
INVESTMENT CHARACTERISTICS. The Equity Income Fund may have investment characteristics which differ from the general market, as measured by the Standard & Poor's 500 Index. For the total Fund, these would include, but are not limited to: CHARACTERISTIC RELATIVE TO S&P 500 INDEX Beta Lower Capitalization Somewhat Lower Dividend Yield Higher Hist. 5 year EPS Growth Lower Price to Earnings Ratio Lower Standard Deviation Lower VIA Fund Guidelines - May 20, 1999 SCHEDULE B VANTAGEPOINT INVESTMENT ADVISERS, LLC EQUITY INCOME FUND INVESTMENT GUIDELINES FOR SOUTHEASTERN ASSET MANAGEMENT INC. DECEMBER 4, 2000 These Investment Guidelines refer to the portion of the Vantagepoint Equity Income Fund managed by SOUTHEASTERN ASSET MANAGEMENT INC. Investment Guidelines for the Fund are an integral part of these guidelines. Southeastern Asset Management, Inc. follows a "Special Situation Value" approach to security selection, focusing on undervalued companies whose stocks are priced at significant discounts to their corporate worth. Screening criteria and fundamental analysis lead to portfolio holdings that generate current income, protect capital from significant loss (capital preservation), and also allow for capital appreciation when value is recognized. The portfolio is concentrated in 20 to 30 holdings and is normally fully invested in equities at all times. The Adviser must comply with the Fund Investment Guidelines (see Schedule A) except where noted in the sections that follow: I. ELIGIBLE INVESTMENTS and II. PROHIBITED PRACTICES AND SECURITIES.
INVESTMENT CHARACTERISTICS. The Fund may have investment characteristics which differ from the general market, as measured by the Standard & Poor's 500 Index. For the total Fund, these would include, but are not limited to: CHARACTERISTIC RELATIVE TO S&P 500 INDEX Beta Similar Capitalization Somewhat Lower Dividend Yield Similar Hist. 5 year EPS Growth Similar Price to Earnings Ratio Similar Standard Deviation Similar SCHEDULE B VANTAGEPOINT INVESTMENT ADVISERS, LLC GROWTH & INCOME FUND INVESTMENT GUIDELINES FOR CAPITAL GUARDIAN TRUST COMPANY MARCH 1, 1999 Capital Guardian Trust Company seeks to achieve long-term growth of capital and income. Capital Guardian's investment approach is a blend of value and growth, offering the opportunity for superior returns primarily through stock selection, including special situations.
