A news release said the portfolios are available as an alternative investment solution that can be integrated into Diversified’s PortfolioXpress service and also fulfill Qualified Default Investment Alternative (QDIA) requirements for plan sponsors. Mesirow Financial customizes the target maturity portfolios using funds in a given plan lineup.
Mesirow Financial serves as investment manager to the portfolios, fulfilling the QDIA requirement and lessening the need for plan sponsors to carry the additional fiduciary responsibility, the announcement said.
“Our target maturity methodology is unique in that it not only takes into account a proper allocation for a targeted retirement date, but it also focuses on the issue of longevity risk, protecting investors from outliving their retirement savings,” said Michael Annin, CFA, managing director of Mesirow Financial Investment Strategies, in the release.
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