USAA Launches Target Date Funds
August 10, 2008
The United Services Automobile Association, a financial services company for current and retired military personnel and their families, has rolled out a new suite of five target date mutual funds.
The new funds are designed to simplify the investment process and cost 47% less than the latest comparable Lipper category expense ratio average. The investment strategy is to manage risk against specific retirement dates, gradually becoming more conservative as the fund approaches maturity.
The USAA Target Retirement funds include a 2050, 2040, 2030, and 2020 fund, along with a Retirement Income fund. All are available to non-USAA members. The minimum investment is $3,000, or $1,000 for IRAs.
“Our collection of target retirement funds will make it easier to plan for the future, and will encourage long-term investing and diversification,” said Chris Claus, USAA president.
For more information on related topics, visit the following:
