AARP Financial, a subsidiary of AARP Services, has added the AARP Income Fund to the fund family.
“With the addition of the AARP Income Fund to the AARP Funds Family, we are continuing our commitment to deliver institutional quality investment management to the retail investor at low cost,” said Richard Hisey, chief investment officer for AARP Financial. “This new offering is a lower-risk option for Baby Boomers, retirees and others in need of a monthly income stream.”
The AARP Income Fund, sub-advised by State Street Global Advisors, is a conservative, index-based fund-of-funds that seeks to preserve long-term capital while providing current income. The majority of its assets, at least 75%, will mimic the holdings of the Lehman Brothers Aggregate Bond Index.