According to a press release, the two new funds are the Seligman TargETFund 2035 and Seligman TargETFund 2045. The mutual funds provide target retirement date funds to retirement plan participants that utilize exchange traded funds (ETFs).
Each fund is structured as a fund-of-funds that invests primarily in ETFs, the news release said. The asset allocation underlying each fund is based on Seligman’s research-based Time Horizon Matrix risk management strategy.
In October 2005, Seligman launched Seligman TargETFund Core, Seligman TargETFund 2015, and Seligman TargETFund 2025 (See Seligman Announces ETF Portfolios ).
As with the original TargETFunds, each of the new funds offers Class A, Class C, Class D, Class R, and Class I shares. The minimum initial investment in any fund of the series is $1,000 and minimum subsequent investments are $100.
More about the new funds may be obtained by contacting Seligman Advisors, Inc. at 800-221-2783.