Morningstar has developed a series of 18 asset allocation indexes for investors and advisers to use as benchmarks for target-date and target-risk funds.

The 13 indexes for target-date funds are included in the Morningstar Lifetime Allocation Index series, and the five indexes for target-risk funds are included in the Morningstar Target Risk Index series. The Lifetime series is available in three risk profiles: aggressive, moderate and conservative.

"There is significant variation in asset allocation from one fund family to another for target-date and target-risk funds with the same stated goal," noted Sanjay Arya, director of Morningstar Indexes. "One family's 2020 target retirement date fund, for example, can be much more aggressive than another's."

RiverSource Fund Targets 'Recovery, Infrastructure'

RiverSource Investments has launched the RiverSource Recovery and Infrastructure Fund, an open-end mutual fund that will seek long-term opportunities around the world.

"Given the influx of government spending and demand in the U.S. and internationally, the infrastructure theme remains one of the most compelling opportunities in recent history," said Warren Spitz, senior portfolio manager.

RiverSource estimates the public and private spending for infrastructure in the U.S. will total $2.2 trillion over the next five years. Specific industries Spitz is targeting include energy, materials, industrials, utilities, construction, heavy equipment, engineering, technology, airlines and automakers.

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