AARP to Liquidate Mutual Funds

The termination of the group’s funds, which have a total of about $160 million in assets, is expected to occur around October 1, said Richard “Mack” Hisey, AARP Funds’ president, in a telephone interview with MarketWatch. “Liquidation was the best option for shareholders,” Hisey said. “There are a number of reasonable alternatives to these funds in the marketplace.”   

MarketWatch reports that Hisey said the funds’ directors had discussed the possibility of another fund family acquiring the assets. Shareholders can find alternatives with help from an AARP Funds financial adviser, or they can receive a check for the proceeds of their account once the funds are shuttered.   

The funds to be liquidated include: 

• AARP Aggressive Fund,  
• AARP Income Fund,  
• AARP Moderate Fund,  
• AARP Conservative Fund, and 
• AARP Money Market Fund.