Vanguard Group is now offering a target-date fund for young investors who expect to retire on or about 2060, confirmed Linda Wolohan, a Vanguard spokeswoman.
The Vanguard Target Retirement 2060 Fund contains an initial allocation of 90% equity and 10% fixed income. The equity component features the firm's Total Stock Market Index Fund (63% of total asset allocation) and Total International Stock Index Fund (27%). The fixed-income component is based on the firm's Total Bond Market II fund.
The fund is available to investors in institutional and retail retirement plans as well as to investors in taxable accounts, Ms. Wolohan wrote in an e-mail response to questions.