Russell Investments launched six new funds today. Five are target-date funds: the 2015 Strategy Fund, 2025 Strategy Fund, 2035 Strategy Fund, 2045 Strategy Fund and 2050 Strategy Fund, according to a news release. The sixth fund, the In Retirement Fund, is intended for investors who are no longer working. Russell already offers four target-date funds: the 2010 Strategy Fund, 2020 Strategy Fund, 2030 Strategy Fund and 2040 Strategy Fund.
As this product category has developed, our clients have asked for five-year increments, and were happy to be able to bring ours to market, said Matt Smith, managing director of Russell Retirement Services, in the release.
The funds shift to a more conservative mix of bonds to stocks as the target year approaches. The In Retirement Fund keeps a 32% equity/68% fixed-income allocation.