Russell Investments has launched LifePoints Funds, Target Distribution Strategies, a series of multi-manager funds designed specifically for the decumulation phase.
The funds leverage a dynamic asset allocation strategy designed to provide retirees with a way to replace pre-retirement income, the potential to preserve savings and the flexibility to make changes throughout retirement.
As individuals reach retirement, they are faced with many competing needs and concerns: They want to enjoy retirement fully but also retain wealth; they are concerned about outliving their money, but want control of their assets; and they want a financial approach that stresses consistency and reliability but still [have] the flexibility to change course, said Timothy Noonan, managing director of Russell Investments.
The Target Distribution Strategies represent a whole new approach to mutual fund investing one that can help individuals navigate the range of competing emotional and financial issues that they face as they move through retirement, he said.
Of the six funds in the series, three offer Class A shares and three offer Class S shares.
These funds allow the adviser to open up a new dimension in the long-term relationship with the client, Noonan said. Advisers can focus their expertise fully on developing and maintaining a thoughtful financial plan that addresses clients spending needs while keeping an eye on estate planning goals.
Russell Investments has $213 billion in assets under management.