Delaware Investments of Philadelphia believes that there is an appetite for institutional funds in defined contribution plans and has created a new 401(k) product that offers numerous institutional products to plan sponsors and participants.

The company's Retirement Financial Services unit has created a bundled 401(k) plan called SpectrumSolutions that offers 24 institutional funds, including non-proprietary funds. The plan will be available to customers October 1 but Delaware Investments has already begun marketing the product.

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