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In 2003, three American college friends set out for Uganda. As they traveled through the north of the country, they were so moved by the suffering caused by the conflict between the government and the warlord Joseph Kony that they started an NGO called Invisible Children to spread awareness about the crisis and raise money for relief projects. Their work eventually drew the attention of Shannon Sedgwick Davis, a young Texas lawyer and CEO of the Bridgeway Foundation, the philanthropic arm of Bridgeway Capital Management, a multibillion-dollar hedge fund with investments in oil, pharmaceuticals, and consumer products. For years, Davis had been troubled by the limitations of charity, whic
Wisconsin Deferred Compensation cutting American Beacon fund from lineup
Wisconsin Deferred Compensation cutting American Beacon fund from lineup
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Wisconsin Deferred Compensation Program, Madison, will remove the American Beacon Bridgeway Large Cap Value Fund from its investment options lineup.
The $5.9 billion 457 plan s board at its March 11 meeting approved terminating the fund managed by American Beacon Advisors and subadvised by Bridgeway Capital Management due to underperformance, said Shelly Schueller, director of the deferred compensation program, in an email.
According to a memo from Ms. Schueller included with meeting materials, the fund had $19 million in assets in the plan as of Dec. 31. Record keeper Empower Retirement will conduct a shortlist search for a replacement and present its findings at the June 10 board meeting.