VALIC Co I has announced important updates regarding its investment advisory agreements and fund classifications. These changes, approved by shareholders during a special meeting on October 22, 2026, are expected to impact the company's management structure and investment strategies.

VALIC Co I, an investment company located in Jersey City, New Jersey, is known for its diverse range of funds. The company operates under the SEC Act of 1933 and has undergone various name changes over the years, previously known as AIG Retirement Co I and North American Funds Variable Product Series Co I.

The recent filing, accession number 0001193125-26-441432, details that shareholders approved two new investment advisory agreements with The Variable Annuity Life Insurance Company (VALIC), the Funds’ adviser. One of these agreements became effective immediately following the meeting. This decision follows an interim agreement that was put in place after Nippon Life Insurance Company acquired additional shares of Corebridge Financial, VALIC's parent company.

According to the filing, the new advisory agreement maintains terms similar to the previous agreement but includes updates to fund names and certain provisions. The second investment advisory agreement is anticipated to replace the new agreement at the end of 2026, coinciding with the merger of Corebridge and Equitable Holdings, Inc.

Additionally, shareholders voted to change the classification of several funds from "diversified" to "non-diversified". This change applies to the Capital Appreciation Fund, Large Cap Core Fund, Systematic Core Fund, and U.S. Socially Responsible Fund. The shift allows these funds greater flexibility in their investment strategies.

Furthermore, revisions were approved for the fundamental investment restrictions regarding industry concentration for the International Equities Index Fund, Mid Cap Index Fund, Small Cap Index Fund, and Stock Index Fund. These revisions will enable the funds to concentrate their investments in specific industries, aligning them more closely with their benchmark indices.

Shareholders also elected Erin F. Donnelly as a director of the company and approved a modified "manager-of-managers" arrangement. The changes to diversification and concentration classifications will take effect on November 1, 2026.

These strategic updates are likely to influence how VALIC Co I operates within the investment landscape, potentially affecting its competitive positioning among other investment firms. As the industry adapts to these changes, other firms may need to reconsider their own investment strategies and advisory agreements to remain competitive.

The filing does not specify what actions will be taken next beyond the effective date of the changes.