New products introduced over the last week include index-based target-date funds from Schwab and a bond fund from BlackRock. Also, Russell Investments expanded access to the Russell FX Network.
Here are the latest developments of interest to advisors:
1) Schwab Adds Lower-Cost TDFs
Charles Schwab Investment Management launched Schwab Target Index Funds, a line of index-based target-date mutual funds constructed with Schwab ETFs as underlying investments.
(Related on ThinkAdvisor:Schwab Rolls Out ETF-Based Target-Date Funds)
The funds, available to employer-sponsored retirement plans, have no minimum investment requirements regardless of plan size and an expense ratio of 0.08%. The funds are available to individual investors outside retirement plans at a 0.13% expense ratio and a $100 minimum investment.
2) BlackRock Launches Bond Fund