The following ranges will apply to each of the age brackets within Option 11: Targeted Allowable Targeted Allowable Years to Equity Equity Fixed Income Fixed Income Age Bracket Enrollment Allocation Allocation Range 0 4 years 14 or more – 100% 98 - 100% 0% 0 2% – years 5 8 10 13 75% 73 77% 25% 23 27% – – – – 9 12 years 6 9 years 50% 48 52% 50% 48 52% – – – – 13 15 3 5 years 25% 23 27% 75 % 73 77 % – – – – Age 16 & 0 2 years 0% 0 2% 100% 98 - 100% – – Beneficiary account balances shall be moved to the next age bracket on the day following their birthdate during which they reach age 5, 9, 13 and 16. Accounts established based on the year’s to enrollment option will move to the next age bracket on the day following the beneficiaries birthdate when their projected enrollment year is 13, 9, 5 and 2 years from enrollment in college. IMPLEMENTATION All assets invested for the Program by the Investment Manager(s) after the adoption of this CIP shall conform to this Statement. The following portfolio-specific guidelines have been established to: Ensure that the managers continually adhere to all regulations administered by any regulatory authority charged with oversight responsibility Limit the Program’s exposure to unintended risks Ensure that each investment option adheres to its specific objectives Communicate objective, reasonable criteria of the Board's expectations to the managers. The following sections contain the investment guidelines and policies for each option of the Florida College Savings Program: OPTION 1 CAP GROWTH PORTFOLIO INVESTMENT GUIDELINES
The following ranges will apply to each of the age brackets within Option 11: Age Bracket Years to Enrollment Targeted Equity Allocation Allowable Equity Targeted Fixed Income Allocation Allowable Fixed Income Range 0 – 4 years 14 or more years 100% 98 - 100% 0% 0 – 2% 5 – 8 10 – 13 75% 73 – 77% 25% 23 – 27% 9 – 12 years 6 – 9 years 50% 48 – 52% 50% 48 – 52% 13 – 15 3 – 5 years 25% 23 – 27% 75 % 73 – 77 % Age 16 & 0 – 2 years 0% 0 – 2% 100% 98 - 100% Beneficiary account balances shall be moved to the next age bracket on the day following their birthdate during which they reach age 5, 9, 13 and 16. Accounts established based on the year’s to enrollment option will move to the next age bracket on the day following the beneficiaries birthdate when their projected enrollment year is 13, 9, 5 and 2 years from enrollment in college. IMPLEMENTATION All assets invested for the Program by the Investment Manager(s) after the adoption of this CIP shall conform to this Statement. The following portfolio-specific guidelines have been established to: Ensure that the managers continually adhere to all regulations administered by any regulatory authority charged with oversight responsibility Limit the Program’s exposure to unintended risks Ensure that each investment option adheres to its specific objectives Communicate objective, reasonable criteria of the Board's expectations to the managers. The following sections contain the investment guidelines and policies for each option of the Florida College Savings Program: OPTION 1 CAP GROWTH PORTFOLIO INVESTMENT GUIDELINES
ITN_15-01_small_cap.docx