Van Kampen Funds on Tuesday launched the family of Van Kampen Retirement Strategy Funds. The nine target-date funds, with target retirement dates in five-year increments between 2010 and 2050, plus a fund for those already retired, are based on investment strategies determined by Russell Investments and are designed to provide broader diversification and lower risk than other target-date funds.
The market is evolving to the next generation of target-date funds, where asset allocation founded on pension principles, multi-firm management and a broad range of asset classes are essential elements, said Andrew Scherer, managing director, U.S. intermediary retail and sales at Van Kampen. The Van Kampen Retirement Strategies Funds bring next-generation thinking to target-date investing.
The funds-of-funds will invest in products managed by both Russell and Van Kampen in a broad spectrum of investments, including international equities, real estate and inflation-indexed securities.
In conjunction with the new launch, Van Kampen is rolling out an education program for financial advisers on target-date funds.
