CTWM Investment Committee: Manager ChangeSubmitted by Connecticut Wealth Management, LLC on July 21st, 2016
We are writing to inform you that in our target portfolios we have replaced the Scout Mid Cap Fund with iShares Core Mid Cap, a low cost indexed approach. Please note that this is not a performance-driven change as Scout has stellar long term numbers and has outperformed its benchmark so far this year. Instead, we recently learned that Scout has shifted its focus and resources away from this strategy, and we have lost confidence that they will able to replicate the impressive performance we have experienced while holding this position. Further, opting for an indexed vehicle is a continuation of the theme of lowering your costs in what has been and what we anticipate might continue to be a low return environment. Please feel free to contact us with any questions.