Northern Trust Corp. said it had introduced a family of target-date funds for defined contribution retirement plans.
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The portfolios, managed by Northern Trust Global Investments, are designed to become more conservative as plan participants move toward retirement, the Chicago company said Wednesday.
The Northern Trust funds target retirement dates at five-year intervals from 2010 through 2050. They are globally diversified and incorporate inflation-hedge asset classes such as global real estate and commodities, in addition to stocks and bonds.
The company had $766.5 billion under management at June 30.
