JPMorgan has launched five target-date funds and one retirement income fund, responding to the growing popularity of these "set it and forget it" types of funds.

Called the JPMorgan SmartRetirement Funds, the new offerings serve individuals who expect to retire in 2010, 2015, 2020, 2030 and 2040. Beginning 25 years before an individual's target retirement date, the funds begin shifting assets out of equities and into more conservative fixed-income choices.

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