The new cases closely resemble a host of others filed in recent months that suggest fiduciary defendants selected underperforming target-date funds.
Microsoft is the latest target in a string of lawsuits over the performance of a popular TDF suite.
One fiduciary insurance expert who has long been tracking ERISA litigation says a spate of new complaints filed in recent weeks are the ‘most outrageous’ the industry has ever seen.
Unlike many other ERISA lawsuits, the complaints suggest the plan fiduciaries in question should have considered more expensive target-date funds that might have performed better.
One telling stat identified in new NEPC research is that managed account adoption has remained stagnant for several years now, while index-based target-date funds have grown in popularity.
One of the key lessons to remember in multi-asset investing is that there is no free lunch, and those who benefit from taking the most risk are likely to feel the most pain when market conditions sour.
State Street launches new retirement income strategy, while Federated Hermes launches two new ETFs.
BNY Mellon Investment Management launches active sustainable ETFs; Northern Trust partners with Accelex on alternative asset data; Ninety One rolls out international franchise fund; and more.
Alpha and Nasdaq extend relationship; OneAmerica launches new adviser managed account service; PGIM Investments launches new bond funds; and more
Vanguard announces plan to launch new China equity fund; Two Sigma and eVestment to partner through Venn; Fingage and OWL Analytics announce partnership; and more.
SEI acquires Novus Partners; Dimensional Fund Advisors lists four fixed-income ETFs; BrightPlan unveils new capabilities to support responsible investing; and more.
AllianceBernstein expands lifetime income strategy platform; Voya expands suite of target-date solutions; Vanguard Personal Advisor Services introduces five-fund active equity offer; and more.
PIMCO, Morningstar team up on personalized TDF solution; Schwab launches the Schwab Ariel ESG ETF; and Confluence Technologies to acquire Investment Metrics.
Participants in their 50s and 60s are using TDFs more than they have in the past, according to a new EBRI and ICI report.
While performance is an important part of the prudent selection of target-date funds, experts speaking at the PLANADVISER National Conference suggest suitability is a more important factor.
Fifty-one percent of 401(k) plan assets owned by participants in their 20s were invested in TDFs, versus 23% for those in their 60s.
Vanguard to launch two active funds, reopen Wellington fund; As You Sow issues corporate 401(k) sustainability scorecard; MIM broadens investor access to public fixed income strategies; and more.