The reality that Baby Boomers are beginning to retire is setting in at mutual fund companies, prompting many to turn their attention to younger generations, The Boston Globe reports.

Those between the ages of 40 to 59, which is considered the key demographic target for fund companies looking to reach people interested in saving for retirement, is currently 83 million, a 51% increase from 1992. But by 2020, that age group will increase by only 1%.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.