More R6 shares hit the market

(AP Photo/Seth Wenig, File)

Sponsors looking for more transparency and lower fees in retirement plan investment offerings have just been offered another choice, as J.P. Morgan Asset Management announced that it will now offer R6 share classes of the J.P. Morgan SmartRetirement Mutual Fund series of target date funds, which carry a Morningstar silver rating.

R6 shares, which provide lower fees for shares sold through defined contribution plans, are not available to retail investors, but are becoming more widely available. The demand for lower fees appears to be driving fund companies to add the share class to their DC offerings. Neuberger Berman, Franklin Templeton and MainStay Investments are just a few of the companies that chose to add R6 shares to retirement plan offerings in 2013.