A Van Kampen news announcement said the funds consist of nine portfolios with target retirement dates from 2010 to 2050 (in five-year increments) and an “in retirement” fund.
Each fund will be structured as a fund of funds, investing primarily in a combination of eight Van Kampen-managed mutual funds and six open-architecture, multi-firm managed funds advised by Russell Investments, the announcement said.
In an attempt to protect against longevity risk, the funds will operate on a glide path that actively manages the asset allocation through a participant’s accumulation phase and another 15 years beyond the retirement date.
“We’re at a critical juncture of change in the way that Americans save for retirement,” said Michael Kiley, President & CEO of Van Kampen Investments, in the news release.
More information is available at www.vankampen.com.