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Products December 3, 2014
Legg Mason Rolls Out Target-Date CIFs
In partnership with Hand Benefits & Trust Company, Legg
Mason introduced 401(k) Roadmap Funds, a series of nine target-date collective
investment funds (CIFs).
Reported by PLANADVISER staff
The Roadmap Funds were designed to be successor funds to QS Legg Mason Target-Date Retirement Funds, a series of target-date mutual funds that closed on November 14. The new funds will utilize investment strategies and processes similar to those in shuttered funds, including similar asset-allocation glide paths and dynamic risk management.
The Roadmap Funds are funds-of-funds and will invest in a combination of underlying funds representing a variety of broad asset classes such as equity, fixed income and inflation-hedging strategies. The Roadmap Funds’ glide path is designed to adjust over time to become more conservative by increasing allocations to fixed-income securities as investors near retirement and to effectively balance market risk against longevity risk.
More information on the funds is available on Legg Mason’s site.