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Wednesday, February 24, 2010

Allianz Plans Target Date Fund Price Cuts

News summary by MFWire's editors

Many asset managers continue to strive to make their offerings more attractive in the retirement plan market, particularly via the target date funds. InvestmentNews' Jessica Toonkel Marquez reports that Allianz Global Investor Solutions plans to lower the expense ratios of its target date fund series by 15 basis points. When the cuts are implemented, expense ratios will range from 88 to 109 bps.

Stephen Sexauer, chief investment officer of Allianz Global Investors, described the current expense ratios as "an inefficiency of structure, not an inefficiency of intent."

Allianz's target date funds are: Allianz Global Investors Solutions 2015, Allianz Global Investors Solutions 2020, Allianz Global Investors Solutions 2030, Allianz Global Investors Solutions 2040 and Allianz Global Investors Solutions 2050

Edited by: Neil Anderson, Managing Editor


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