DES MOINES - Principal Financial Group has introduced a new group of funds for specific retirement years.
The LifeTime portfolios, designed for retirement investors who want to simplify their asset management strategies, consist of investment options for the years 2010, 2020, 2030, 2040, and 2050.
Participants can select an option with an investment mix tailored to a target retirement date. Portfolios for customers nearing retirement hold more conservative investments, and those for participants with later retirement dates have a more aggressive mix.
A sixth option, called the LifeTime Strategic Income portfolio, is geared to customers with less than 10 years until retirement.
The funds, which were introduced last Wednesday, are managed by Invista Capital Management, Principal's equity asset management arm.