The Markets December 5, 2006

American Funds Enters Target Date Market

American Funds has made its inaugural step into the target date fund market by adding nine funds to its retirement fund lineup.
Reported by

The fund family’s adviser Capital Research and Management filed with Securities and Exchange Commission this month to add nine new target-date retirement funds to its offering, joining the growing club of fund companies to add the product, according to the Boston Globe.

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The funds are targeted to retirement dates in five-year increments from 2010 to 2050, and each will be a fund of funds that uses American’s funds as the underlying investments.

Products December 5, 2006

Clark Capital Unveils 401(k) Managed Accounts

Clark Capital Management Group, a Philadelphia-based investment adviser, has announced its Navigator investment platform is available for implementation in 401(k) plans.
Reported by
A Clark news release said the Navigator Simplified 401(k) provides the opportunity to add institutional-level professionally managed accounts in a 401(k) plan.

The new offering addresses the educational component of employers’ and plan sponsors’ fiduciary responsibilities and provides an investment option for plans that implement automatic enrollment, according to the announcement. Further, as a professionally managed account, the Navigator 401(k) can be adopted as a qualified default investment alternative (QDIA) under guidelines provided by the Department of Labor, according to the company.

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Clark said it has six professionally managed, diversified accounts on the Navigator platform, which allow participants to identify a portfolio appropriate to their risk level and investment goals.

From lowest risk to highest, the portfolios include:

  • Navigator U.S. Fixed Income,

  • Navigator Global Growth & Income,

  • Navigator Global Growth,

  • Navigator U.S. Growth,

  • Navigator Global Maximum Growth, and

  • Navigator Global ETF.

“The Pension Protection Act underscores the fact that retirement plan participants need more support in building and preserving their retirement savings,” said Harry Clark, president and CEO of Clark Capital Management Group, in the release.

More information is at http://www.ccmg.com/default.aspx.

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