Van Kampen Retirement Strategy Trust created 10 new target-date funds of funds, primarily investing in eight Van Kampen-managed mutual funds and six open-architecture, multiple-manager funds advised by Russell Investments, confirmed Van Kampen spokesman Matt Burkhard. Nine have target dates in five-year increments for retirement years 2010 to 2050; the 10th is a fund for retirees.
The partnership with Russell will provide broad diversification in the selection of internal and external managers best-suited to various sectors, styles and markets, Mr. Burkhard said. Some of the funds will also invest in international equities, real estate and inflation-indexed securities. Also, to protect against longevity risk, the funds will be actively managed 15 years beyond the retirement date.