Russell Investments announced Wednesday that its LifePoints Funds target date series had surpassed $1 billion in assets under management, with growth year over year of 44%.
The target date series is a set of 10 strategically diversified portfolios designed to simplify the asset allocation process for retirement plan participants over time; they include nine target date strategy funds and the In Retirement Fund. The funds are available to retirement plans via the firm's U.S. advisor-sold business, which partners with financial intermediaries and defined contribution record keepers.
Kevin O'Connor, senior product manager for Russell Investments' U.S. advisor-sold business, said in a statement, "Russell has consistently reinforced that all target date funds are not created alike and that it is critical to evaluate a fund family's glide path methodology and portfolio construction.
