MINNESOTA POWER AND AFFILIATED COMPANIES RETIREMENT SAVINGS and STOCK OWNERSHIP PLAN Investment Model Portfolios

Investment options of MINNESOTA POWER AND AFFILIATED COMPANIES RETIREMENT SAVINGS and STOCK OWNERSHIP PLAN

Total Available Funds: 22

Asset Class

Ticker

Description

Others
ROOT	CASH	Evergreen Inst Money Mkt Fund Money Mkt
Target Date 2011-2015	BIPBX	LifePath Index 2015 Fund K Collective Fund
Target Date 2016-2020	LPSCX	LifePath Index 2020 Fund K Collective Fund
Target Date 2021-2025	BIPDX	LifePath Index 2025 Fund K Collective Fund
Target Date 2026-2030	LPSDX	LifePath Index 2030 Fund K Collective Fund
Target Date 2031-2035	BIPGX	LifePath Index 2035 Fund K Collective Fund
Target Date 2036-2040	LPSFX	LifePath Index 2040 Fund K Collective Fund
Target Date 2041-2045	BIPJX	LifePath Index 2045 Fund K Collective Fund
Target Date 2050+	LPSGX	LifePath Index 2050 Fund K Collective Fund
Moderate Allocation	OAKBX	Oakmark Equity Income Fund (I) Mutual Fund

FIXED INCOME
SHORT GOVERNMENT	STABLEVALUE	Diversified Stable Value Tr (MP) Collective Fund
Intermediate-Term Bond	VBTSX	Vanguard Total Bond Mkt Index Signal Mutual Fund

US EQUITY
SMALL BLEND	IIRSX	State Street Global Advisor Russell Small Cap Index SL Series I Collective Fund
Small Growth	TGSCX	TCW Small Cap Growth Collective Tr Fund Collective Fund
LARGE VALUE	DODGX	Dodge Cox Stock Fund Mutual Fund
SMALL VALUE	HNVIX	Heartl& Value Plus Institutional Mutual Fund
LARGE GROWTH	MLAAX	Mainstay Large Cap Growth (Class A) Mutual Fund
LARGE BLEND	VINIX	Vanguard Institutional Index Fund Mutual Fund
MID-CAP BLEND	VIMSX	Vanguard Mid-Cap Index Fund Institutional Mutual Fund

INTERNATIONAL EQUITY
FOREIGN SMALL/MID GROWTH	ARTJX	Artisan International Investors Shrs Mutual Fund
Foreign Large Value	DODFX	Dodge Cox International Stock Fund Mutual Fund

Emerging Market
DIVERSIFIED EMERGING MKTS	ODMAX	Oppenheimer Developing Mkts Fund (A) Mutual Fund

Investment model portfolios

We provide two types of investment model portfolios for MINNESOTA POWER AND AFFILIATED COMPANIES RETIREMENT SAVINGS and STOCK OWNERSHIP PLAN participants. You can customize and follow a model portfolio in your plan account.

Types of portfolio strategies

Strategic asset allocation portfolio: It invests in a diversified portfolio of multiple assets, buy-and-hold without frequently changing the asset allocation weights.
- Suitable: For long-term (more than 15 years, preferably more than 20 years), want to be tax efficient and can withstand interim drawdown or loss as high as 50% or more.
- Pros:
  - Less error-prone
  - Infrequent rebalancing or transactions
  - Tax efficient for taxable brokerage investments
- Cons:
  - Interim loss or drawdown can be substantial
  - Possible low returns for an extended period, such as 10 years or longer
Tactical asset allocation portfolio: it invests in a diversified portfolio of multiple assets, dynamically adjust stock and bond allocations to minimize losses during market stress.
- Suitable: For long-term (more than 10 years or preferably longer) capital. Investors are willing to rebalance as frequent as monthly.
- Pros:
  - Reduce large interim loss or drawdown
  - Less sensitive to investment entry point
  - Likely to improve returns
- Cons
  - Demand more frequent rebalancing or transactions
  - Less tax efficient — more suitable in a tax-deferred account such as 401(k) or IRA
  - Can experience a period of lower returns compared to a broad-based strategic allocation or a buy-and-hold benchmark, especially in some bull markets

These portfolios are proactively monitored and rebalanced on a monthly basis when needed, ensuring it remains in line with its target allocation.

Let us know (Email us) if you need help to create a custom model portfolio for your plan.

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