A Seligman news release said that the funds, launched in October 2005, will carry expenses ranging from 0.98% to 1.73% depending on share class and not including estimated weighted expenses of the underlying ETFs, which range from 0.20% to 0.26%.
“Seligman TargetHorizon ETF Portfolios provide cost-effective diversification, risk-management and convenience by packaging a strategic mix of ETFs in traditional mutual funds,” said Charles Kadlec, Managing Director of J. & W. Seligman & Co. Incorporated, President of Seligman Advisors Inc., and Co-Portfolio Manager of the Funds, in the news release. “The fee reduction makes these funds even more beneficial to the wide array of investors who have embraced them, from retirement plan participants who want ease and simplicity to individual investors employing sophisticated core and satellite strategies.”
Seligman TargetHorizon ETF Portfolios consist of:
- Seligman TargETFund Core, which is intended for a person who is retired or expects to retire within a short time or otherwise intends to seek withdrawals from invested assets.
- Seligman TargETFund 2015, which is intended for a person who expects to retire or otherwise reach his/her investment goal around the year 2015.
- Seligman TargETFund 2025, which is intended for a person who expects to retire or otherwise reach his/her investment goal around the year 2025.
Each fund is structured as a fund-of-funds that invests substantially all of its assets in ETFs. The underlying asset allocation is based on Seligman’s Time Horizon Matrix risk management strategy. Each of the funds offers Class A, Class C, Class D, and Class R shares. The minimum initial investment is $1,000 and minimum subsequent investment is $100.
More information is at http://etf.seligman.com/public/general/index.html .
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