Seligman Advisors has just launched three mutual funds that unite the cost-effectiveness and diversification of ETFs with the simplicity and convenience of target-date funds.

The first fund, Seligman TargETFund Core, is geared towards individuals who are already retired, or who plan to retire soon, because it allows for withdrawals from the invested assets.

Seligman TargETFund 2015 is designed for those who expect to retire and reach their investment goals around the year 2015

Seligman TargETFund 2025 is aimed at those investors who expect to retire and reach their investment goals around the year 2025.

Each fund has been constructed as a fund-of funds and invests all assets into the ETF class.

All asset allocation is modeled after Seligman's Time Horizon Matrix (SM) risk management strategy

All of the funds will have Class A, Class C, Class D, Class R and Class I shares. The initial investment will have to be a minimum of $1,000.

"ETFs are a proven investment vehicle that provide extraordinary broad and cost-effective diversification," said Charles Kadlec, president of Seligman Advisors. "Target-date funds, which systematically shift asset allocations over time from historically more aggressive to less aggressive asset classes, provide a highly efficient means of implementing and following an asset allocation strategy. Packaged together in the familiar structure of an open-end mutual fund, ETFs and the Time Horizon Matrix risk management strategy offer financial advisers and their clients a more innovative solution for prudently seeking financial goals."

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