Hand Benefits Selects Sub-Advisers for Target Date CITs

Hand Benefits & Trust Company has selected Blue Prairie Group LLC (BPG) and Target Date Solutions (TDS) as managers of the SMART Fund target date collective investment trusts.

David Hand, CEO of HB&T, said in a press release that TDS uses a financially engineered glide path and Blue Prairie Group is an investment consulting firm focusing on manager search and selection.  

According to the announcement, the SMART Funds are designed to end at the target date (e.g., 2020, 2030, 2040, etc.) in safe asset classes. The emphasis is placed on risk control by changing the allocation at retirement to over 90% in TIPS and Treasuries.   

Hand says the collective investment trust (CIT) structure and low cost underlying investments result in overall operating expenses that are dramatically lower than most other target date strategies on the market.