Union Bank of CA Adding Barclays LifePath Portfolio To Its Mix

May 19, 2003 (PLANSPONSOR.com) - Union Bank of California has added Barclays Global Investors Funds' LifePath Portfolio to the investment menu for its SelectBenefit retirement plan clients.

The new relationship between the two firms means plan sponsors utilizing Union Bank’s retirement-plan services will now be able to offer their participants access to the lifecycle funds.   These portfolios are mutual funds designed to offer investors an investment strategy tailored to the time when investors expect to begin withdrawing assets, according to a news release.

Over time, as the participants get closer to needing their money, the portfolios are rebalanced based on the participant’s target date of withdrawal.