Prudential Bets on American Century's Target-Date Funds
January 2, 2013
Prudential Retirement has picked up a new line-up of target-date funds for defined contribution plan participants.
The Prudential IncomeFlex Target with LIVESTRONG Portfolios comes from American Century Investments and are available immediately.
LIVESTRONG Portfolios are diversified portfolios that automatically adjust as their target date approaches.
“These income guarantees combined with the benefits of target-date funds offer investors protection from market downturns and help protect their future retirement income,” said Srinivas Reddy, senior vice president of Prudential Retirement’s Institutional Income, regarding target-date funds in a company press release.
“This is a natural evolution of our partnership as a defined contribution investment only provider," added Peter Cieszko, American Century Investments's chief client officer, Americans.