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Products November 2, 2012
MFS Adds TDFs with 5-Year Increments
MFS
Investment Management added five funds to its Lifetime Funds target-date suite,
now offering funds in five-year increments through 2055.
Reported by Kristen Heinzinger
The new funds are MFS Lifetime 2015 Fund, MFS Lifetime 2025 Fund, MFS Lifetime 2035 Funds, MFS Lifetime 2045 Fund and MFS Lifetime 2055 Fund. They are available through advisers as well as retirement plan platforms.
Managed in a manner consistent with the firm’s existing target-date funds, the series invests in a diversified group of underlying MFS equity and fixed-income funds. Lifetime Funds meet the Department of Labor’s qualified default investment alternative (DQIA) requirements for workplace-sponsored retirement plans.
The MFS Quantifiable Solutions team manages the funds’ asset allocation among the underlying MFS funds and is responsible for rebalancing and managing each fund to its glide path target. The team is led by Joseph Flaherty, investment risk officer and director of Quantitative Solutions, who currently serves as portfolio manager of U.S. multi-asset-class funds.