The AssetMark iFlex 401(k) will provide six possible Target Allocation Funds – for which First Trust Corporation will act as a trustee – which are designed to offer participants help regarding asset allocation and manager selection, according to a press release.
The six Target Allocation Funds include three strategic and three tactical asset allocation models: Conservative, Balanced, and Growth. The funds also provide automatic reallocation and rebalancing as conditions in the market change.
With the Target Allocation Funds, AssetMark seeks to offer participants the opportunity to select from two Portfolio Strategists. Providing asset management are Wilshire Associates, which specializes in strategic asset allocation portfolios, and PanAgora Asset Management, which will offer tactical asset allocation portfolios. Each firm will implement its respective investing strategies with multiple managers, and will aim to meet the risk/return profile for each participant, the news release said.
Plan sponsors can choose up to 14 additional funds from the over 2,000 offered by the AssetMark iFlex 401(k) plan. Plan sponsors will also be able to choose multiple options from the plan, ranging from participant eligibility options to loan features.
AssetMark Investment Services, Inc.( www.assetmark.com ), which administers over $4 billion in investor portfolios, provides investment management for advisors, broker dealers, banks, and CPA firms. Fiserv Inc. provides information management systems to the financial industry, and through its subsidiary, Fiserv Investment Support Services( www.fiserv.com ), administers over 320,000 self-directed retirement and custodial accounts, valued at over $32 billion.