According to a news release, these ETFs are sub-advised by portfolio strategist Barclays Global Investor (BGI), State Street Global, and other ETF Managers.
The news release said that pooling ETF assets using collective investment funds (CIFs) allows asset allocation programs to be offered to multiple plans at a lower cost.
CIF Portfolio Models utilizing ETFs give the 401k professionals, plan sponsors and participants the benefits of asset allocation, diversification, and low costs of ETFs, according to the announcement.
401kDIRECT, formerly PENTEK Pension Services, is headquartered in Agoura Hills, California with offices in Chicago, Illinois. 401kDIRECT has specialized in the 401(k) arena since 1984.