Products August 31, 2011

Tool Offers Retirement Guidance for Credit Union Employees

More than 3,000 credit unions now have access to CUNA Mutual Group’s newly released online retirement guidance platform.
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RetireOnTarget will enable more than 140,000 credit union employees, whose 401(k)s are administered by CUNA Mutual, to better meet their retirement goals. The technology employed by RetireOnTarget enhances CUNA Mutual’s outcome-based approach to retirement plans by helping participants make informed decisions leading to a financially secure retirement.  A plan participant can determine if they’re investing enough, adjust the risk of their asset allocation and alter goals and their retirement dates.  

“RetireOnTarget is proactively presented to participants. They don’t have to search for it and they can quickly edit it for their personal situation.  We use an ‘easy button’ approach so they can make changes to get themselves back on target.  Frankly, people want guidance, not just education,” said Kevin Thompson, Senior Vice President, Asset Accumulation.

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The tool is available at http://www.cunamutual.com/think401k.
Products August 31, 2011

PIMCO Launches Credit Absolute Return Fund

PIMCO launched the PIMCO Credit Absolute Return Fund for investors seeking a global, diversified strategy that is focused on absolute return and not constrained by a benchmark.
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The Credit Absolute Return Fund, which PIMCO says has a “go-anywhere” investment style and can employ a wide range of investments, is managed by Mark Kiesel, a managing director in Newport Beach, California.   

The fund seeks long-term, strategic investments, as well as shorter-term tactical opportunities in an effort to provide positive returns in any market environment. It is designed to enable investors to diversify their fixed income allocation without being tied to risks that PIMCO believes can be embedded in a benchmark.     

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“PIMCO’s investment process guides our macroeconomic view and helps enable us to identify risk factors across all fixed income markets,” said Kiesel.  “We couple this top-down view with a vigorous bottom-up analysis to seek the best long and short credit positions in every part of the fixed income market, from investment grade credit, high yield, emerging market credit and bank loans to convertible and municipal securities.”   

Kiesel added: “This strategy can pivot in order to help achieve the absolute return objective. For example, the strategy can take on greater exposure to credit when spreads are attractive and, conversely, reduce overall exposure when necessary and instead focus on relative value between credit sectors.”   

Institutional shares of the PIMCO Credit Absolute Return Fund will trade under the ticker symbol PCARX. Additional tickers include P shares (PPCRX), A shares (PZCRX), C shares (PCCRX), R shares (PRCRX), and D shares (PDCRX).

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