The AFL-CIO Housing Investment Trust Daily Valued Fund (HIT-DVF) is a pro-labor investment option launched on April 1, 2016 and designed for 401(k) and other qualified defined contribution plans.
The HIT-DVF invests primarily in the AFL-CIO Housing Investment Trust (HIT), a mutual fund with a more than 30-year track record of earning competitive fixed income returns while financing affordable and market-rate housing creating good-paying union construction jobs, and strengthening communities across the US. 1
The HIT has earned the confidence of its investors with its combination of financial performance, credit quality, and social impact.
The HIT-DVF was created to provide participants in defined contribution plans with a daily-valued investment option consisting primarily of shares in the monthly-valued HIT.
The HIT-DVF's expense ratio is currently 48 basis points annually; it is expected to decrease over time as the HIT-DVF's net assets grow.
The HIT-DVF is a bank collective investment fund (CIF) sponsored by Hand Benefits & Trust Company (HB&T), a BPAS company, serving as bank trustee and ERISA fiduciary. 2
HB&T services $21.2 billion in total assets, including over $12 billion in qualified plan assets.
For more information on HB&T, visit www.bpas.com/products/inst_trust_serv.htm
The HIT is a mutual fund whose primary regulation is the SEC.
The HIT manages $6.6 billion in assets for approximately 374 investors, which include union and public employee pension plans and labor organizations.
Key members of the HIT's investment and management teams have worked together for over 15 years.
For more information on the HIT, visit www.aflcio-hit.com.