The lawsuit alleges Principal used proprietary investment vehicles, rather than other investment vehicles, and share classes with higher fees for the underlying TDF investments, to produce more income for itself and its subsidiaries.
In its discussions with TDF managers, Mercer has found many managers say they have not aligned with the ACWI, and have continued with portfolios that display home equity bias for a number of reasons; the research also shows strong growth in passive TDF market share.
Putnam Announces New Pricing for TDFs; First Trust to Launch AI and Robotics ETF; and Vanguard Launches Factor-Based ETFs.
A paper from Morningstar Investment Management lays out a framework for advisers and plan sponsors to determine the qualified default investment alternative (QDIA) that is the best fit for a plan's demographics.
New Cerulli research shows the most common reason for which 401(k) plan sponsors offer participants a managed account service is that it can be positioned as a retirement income solution; also considered is the emergence of so-called “shadow fiduciaries.”
First Trust Launches Index Based ETF; BCG Adds Stadion 401(k) Managed Account on Recordkeeping Platform; Mercer Partners With Investment Metrics for Client Reporting; and more.