Wells Fargo Funds Management has launched the Wells Fargo Advantage Dow Jones Target 2055 Fund, a target-date fund benchmarked against the Dow Jones Target 2055 Index and sub-advised by Global Index Advisors, State Street Global Advisors and Wells Capital Management.
Wells Fargo said that its target-date funds have become increasingly popular in recent years, growing from $1.2 billion in assets in September 2006 to $10 billion at the end of June.
“We believe that starting early is the best way for investors to achieve their long-term retirement goals,” said Andrew Owen, head of the marketing, investments and product team at Wells Fargo. “With that in mind, the Wells Fargo Advantage Dow Jones Target 2055 Fund now offers investors who are embarking on their careers the opportunity to establish a retirement plan that is well-diversified across a broad range of asset classes and investment styles based on their time horizon until retirement.”
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