Legg Mason Inc. (LM), the Baltimore, MD-based investment management firm, has launched nine collective retirement investment funds. The 401(k) Roadmap Funds are launched in collaboration with Hand Benefits & Trust Company (‘HB&T’), which is a Benefits Plans Administrative Services Company (‘BPAS’). The Roadmap Funds are aimed at broadening the scope of employee benefit plans by bringing asset allocation strategies under them.
Notably, the Roadmap Funds are targeted toward offering streamlined retirement planning options to clients, with an attempt to lower the volatility in portfolio and balance the market risk against longevity risk. HB&T has retained QS Investors, LLC, a wholly owned subsidiary of Legg Mason, for offering sub-advisory and asset allocation services to the funds. Additionally, Sheridan Road Investment Consulting, LLC assists QS Investors by offering fund analytics and investment research services.
The Roadmap Funds are funds-of-funds, which will invest in a spectrum of underlying funds, representing a bouquet of broad asset classes including equity, fixed income and inflation-hedging strategies. The path of this fund is designed such that it becomes increasingly conservative over time and invests more in fixed income securities, as investors near retirement.
HB&T, QS Investors and Sheridan Road Investment Consulting worked together for designing a low-cost solution suitable to the clients’ needs. These smartly crafted funds are likely to attract investors who are seeking cheap, customized solutions in this low-growth marketplace.
Currently, Legg Mason carries a Zacks Rank #3 (Hold). Better-ranked investment managers include KKR & Co. L.P. (KKR), Monroe Capital Corp. (MRCC) and Man Group plc (MNGPY). While both KKR & Co and Monroe Capital hold a Zacks Rank #1 (Strong Buy), Man Group carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment