Following a rash of acquisitions of asset management firms by fund companies, many are now populating their lifecycle funds with new offerings from their target acquisitions, The Wall Street Journal reports. Three such companies to do so include Legg Mason, Amvescap and Principal Financial.
Certainly, there is a need to differentiate these increasingly popular products, as more fund companies rush to bring them to market; last year alone, firms introduced about 50 lifecycle funds, bringing the total to about 200, according to Morningstar data.
At the end of January, Amvescap’s AIM Investments division introduced six lifecycle funds that invest in exchange-traded funds.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.