Honing their retirement-minded offerings, USAA Investments [profile] is launching two new mutual funds: the USAA Target Retirement 2060 Fund (URSIX) and the USAA Flexible Income Fund (USFIX)

The USAA Target Retirement 2060 Fund has a low minimum investment of $500 and offers an actively managed retirement solution targeted to the millennial generation entering the workforce, while the USAA Flexible Income Fund is designed to generate total return through both income and capital appreciation for investors with a moderate tolerance for risk.

With the new funds, USAA’s Target Retirement Funds series includes six target date mutula funds.

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Company Press Release

USAA Launches Two New Mutual Funds

USAA Investments announced the launch of two new mutual funds – the USAA Target Retirement 2060 Fund (URSXX) and USAA Flexible Income Fund (USFIX) – to investors with solutions tailored to specific life stages and investment objectives. The USAA Target Retirement 2060 Fund, the sixth fund in the USAA Target Retirement Funds suite, has a low minimum investment of $500 and offers an actively managed retirement solution targeted to the millennial generation entering the workforce.

“This fund offers young investors a low-cost, diversified mutual fund option to help save for retirement,” said Wasif Latif, vice president at USAA Investments and co-manager of USAA’s Target Retirement Funds series. “It is designed to contain more equities than our other Target Retirement Funds, given the longer investment timeline.”

The USAA Flexible Income Fund is designed to generate total return through both income and capital appreciation for investors with a moderate tolerance for risk.

“Our strategy is to provide investors with income under changing investment conditions with a mutual fund that will withstand a rising-rate environment better than traditional bond funds,” said Arne Espe, vice president at USAA Investments and manager of the USAA Flexible Income Fund. “By investing primarily in bonds without specific maturity or credit quality targets, as well as in preferred and common stocks, this fund is not subject to constraints typically seen in income-focused portfolios.”

USAA Investments has $57 billion in mutual fund assets under management. USAA’s fund family includes more than 50 mutual funds that are open to all investors by visiting usaa.com or calling 1-800-531-USAA (8722).

 

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