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The Markets January 22, 2008
Seligman Renames Time Horizon/Harvester Series Funds
J.&W. Seligman&Co. Incorporated has announced that Seligman Time Horizon/Harvester Series has been renamed and the names of the funds in the series have also been changed.
Reported by Rebecca Moore
The multi-discipline and multi-manager suite of strategic asset allocation funds has been renamed Seligman Asset Allocation Series, according to the company. The names of the underlying funds have been changed as follows:
- Seligman Time Horizon 30 Fund is now the Seligman Asset Allocation Aggressive Growth Fund,
- Seligman Time Horizon 20 Fund is now the Seligman Asset Allocation Growth Fund,
- Seligman Time Horizon 10 Fund is now the Seligman Asset Allocation Moderate Growth Fund, and
- Seligman Harvester Fund is now the Seligman Asset Allocation Balanced Fund.
According to Gary Terpening, product manager for the funds, the new names more accurately describe the funds for prospective investors who seek a particular diversification strategy keyed to their risk preference and financial goals.
Each of the four funds within the Seligman Asset Allocation Series invests in up to 15 underlying Seligman mutual funds, including a number of funds sub-advised by Wellington Management and LaSalle Investment Management (Securities), L.P. and its Netherlands affiliate. The underlying funds in aggregate provide broad diversification to small-, mid-, and large-cap stocks, as well as both growth and value investment styles.
The diversification provides exposure to U.S., international and emerging markets equities, domestic and global commercial real estate (REITs), and a variety of fixed income securities.
The allocations for the funds range from 100% to 55% equity, and are based on extensive research Seligman has conducted into asset allocation and risk management.
More information can be found at www.seligman.com.