VALIC I's Large Cap Core Fund gets new subadviser, swaps benchmark

By Toni Weeks

San Diego, Oct. 26 - The board of directors of the Variable Annuity Life Insurance Co. I (VALIC) approved the termination of Wells Capital Management Inc. as the subadviser to the company's Large Cap Core Fund, according to a 497K filing with the Securities and Exchange Commission.

The new subadviser will be Columbia Management Investment Advisers, LLC. In addition, Guy Pope was added as portfolio manager to the fund.

The filing stated that the fund will transition its benchmark from the S&P 500 index to the Russell 1000 index to better reflect the investment style of Columbia, the new subadviser.

The changes were approved at an Oct. 24-25 meeting and will take effect Nov. 14.

The Houston company provides retirement savings products.

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