Mutual of Omaha announced Thursday that it was expanding its investment lineup with 20 new funds, including target-date funds from Vanguard.

Mutual of Omaha added three new qualified default investment alternatives from Vanguard, in addition to funds from 10 other investment managers.

Some of the other new funds include:

  • Templeton Global Total Return Fund, TGTRX
  • Goldman Sachs Small Cap Value Fund, GSSMX
  • John Hancock Disciplined Value Mid-Cap Fund, JVMAX
  • Lord Abbett Value Opportunities Fund, LVOAX
  • MFS Value Fund, MEIAX
  • Waddell & Reed New Concepts Fund, UNECX
  • Dodge & Cox International Stock Fund, DODFX
  • Franklin International Small Cap Growth Fund, FINAX
  • Nuveen Tradewinds Global All-Cap Fund, NWGAX
  • Wells Fargo Advantage Emerging Markets Equity Fund, EMGAX

“The Vanguard Target Retirement funds are complementary to our current target-date offering, the Mutual GlidePath series of funds,” Tim Bormann, 401(k) product-line director for Mutual of Omaha, said in a statement. “Mutual’s GlidePath funds are characterized by a multi-manager approach, using a combination of actively and passively managed investments, while Vanguard Target Retirement Funds are comprised of Vanguard's passively managed index funds.”

Gregory Barton, managing director of Vanguard’s Institutional Investor Group, pointed to target-date funds' popularity in retirement portfolios.

“Target-date funds have rapidly become the foundation of retirement portfolios for many 401(k) plan participants, providing a balanced, well-diversified and low-cost investment program in a single vehicle,” he said in a statement. “An index-oriented design and straightforward glide path make Vanguard Target Retirement Funds a sound choice for plan sponsors and participants alike.”

Mutual of Omaha added the funds following its quarterly investment review from Callan Associates, which provides strategic investment consulting for the company's retirement-savings products.