$1.1 Million in Fees to Copper Rock

The investment management fees paid to Copper Rock Capital Partners in 2017 (most recent available) were approximately $1.1 million.  As previously posted (here and here), the selection of Copper Rock to manage a portion of the NYC Deferred Comp International Equity Fund was a mistake.  The under performance continues as displayed in the table below.

NYCDCP Copper Rock Performance vs. Benchmark (as of 9/30/2018)

1-year performance

3-year performance

Since inception

NYCDCP Copper Rock Fund (net fees)

-0.4%

6.9%

9.7%

MSCI EAFE Small
Cap Index
4.1% 12.8%

11.6%

3 replies
  1. Mark D.
    Mark D. says:

    It’s beyond me why the DCP doesn’t go with an international index fund instead of paying four different managers to run the fund.

    • Peter Thomann, EA, CFP®, CDFA®
      Peter Thomann, EA, CFP®, CDFA® says:

      Agreed Mark. A few years ago, DCP had problems with the Mid-cap fund. They switched it to an index fund and performance has been better.
      As a whole, the DCP International fund has performed ok, but that is mostly due to the strong performance of the Ballie Gifford portion of the fund.

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