Responding to changed market conditions, Sierra Investment Advisors has rejiggered the investments in its four asset allocation portfolios.
The restructuring affects the fixed, value, balanced, and growth investment portfolios managed by Sierra Investment, an arm of Great Western Financial Corp.
The four portfolios are marketed as the Sierra Asset Management program.
The program, begun three years ago, has $251 million in assets under management.
The portfolios choose their investments from among nine of 13 funds in the California thrift's Sierra Trust proprietary mutual fund family.
Mutual Fund Family
Sierra Investment Advisors said it reallocated funds in its fixed portfolio to achieve greater balance between short, intermediate, and long-term bonds.
The value strategy was realigned to a "slightly more defensive position" to increase price stability and total return while sustaining yield, a spokesman said.
The balanced strategy shifted into a slightly more conservative mix of 45% equities and 55% debt from an even mix.
More Conservative Mix
The growth strategy was slightly adjusted to include more established growth companies.
The four investment strategies carry a maximum front end load of 4.5% and an annual management fee of 0.5% of the assets under management.
Additionally, individual mutual funds in which the program invests carry annual management fees that range from 0.41% to 2.25%.
