The Trust for Credit Unions has launched its fourth mutual fund, designed to meet credit unions' intermediate-term investment needs.
The Target Maturity Portfolio-1996 will invest in government-agency and private-issue mortgages as well as collateralized mortgage obligations. The fund's investment adviser is Goldman Sachs Asset Management.
"With total credit union investments nearing 20-year lows, new options are needed," said Chip Filson, president of Callahan Financial Services, co-distributor with Goldman Sachs of the Trust funds.
In addition to the Target Maturity Portfolio, the Trust family includes a money-market, a government securities, and a mortgage-securities portfolio.