It's official.
Target-date funds, the set-it-and-forget it mutual funds first conceived in the mid-1990s, held $886 billion in assets at the end of 2016, according to Morningstar, begging the question as to whether this will be the year TDFs cross the $1 trillion threshold.
According to the Investment Company Institute, the suspense is over. As of the end of June, TDFs held "approximately" $1 trillion, says ICI. Morningstar says the mark was eclipsed in July.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
