FYI: Prudential Investments (PRU) is the latest financial firm to launch a new series of set-it-and-forget-it retirement funds.
The Prudential Day One Mutual Funds are a series of 12 target date funds that will be available through group retirement plans and financial intermediaries. Already available through collective investment trusts and separate accounts, the funds have surpassed $1 billion in assets, after growing nearly 40% since Dec. 31, 2014.
The new funds, which use both active and passive strategies to reduce overall costs, are the latest example of money managers competing for investor dollars on price. Prudential is offering the funds at an expense ratio of 0.4% for the lowest price share class, which ranks it among the lowest in cost for open-ended funds within the basket of target-date funds tracked by Morningstar.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2016/12/19/target-date-funds-prudential-enters-price-war/tab/print/
