VALIC Co I has made significant updates to its investment advisory agreements following a special shareholder meeting held on October 22, 2026. This change is crucial as it reflects the company's proactive measures in response to a potential change in control stemming from Nippon Life Insurance Company's acquisition of additional shares of Corebridge Financial, Inc., VALIC's parent company.

During the meeting, shareholders approved two new investment advisory agreements between VALIC Co I and The Variable Annuity Life Insurance Company (VALIC), which became effective immediately. This move was taken out of an abundance of caution, as the acquisition could have been interpreted as a change in control. The new advisory agreement maintains terms similar to the previous agreement but includes updates to effective dates and fund names.

Background

VALIC Co I is an investment company incorporated in Maryland, primarily focused on offering a range of investment products. The company has undergone several name changes in its history, with its former name being AIG Retirement Co I. The company is known for its investment funds, including the International Equities Index Fund, Mid Cap Index Fund, Small Cap Index Fund, and Stock Index Fund.

What the Filing Says

The filing states, "At a special meeting of shareholders... the shareholders of each Fund approved two new investment advisory agreements... one of which became effective as of such date." The filing also mentions that revisions to the fundamental investment restrictions regarding industry concentration were approved, allowing the funds to concentrate their investments similarly to their benchmark indices.

Impact

This update may affect shareholders of VALIC Co I and its investment funds, as the changes could lead to new strategies for investment concentration. The approval of the new advisory agreements and revisions to investment restrictions indicates a shift in how the company will manage its funds moving forward. The concentration changes are set to become effective on November 1, 2026.

What's Next

The filing does not say what happens next regarding further changes or additional filings.