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Rating:New Fund Firm Eyes Target-Date Pie Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, September 22, 2005

New Fund Firm Eyes Target-Date Pie

Reported by Theresa Sim

New York-based Arrivato Advisors has launched a new set of target-date funds based on the Dow Jones Indexes.

The fund industry newcomer has created an asset-allocation suite of funds called the Arrivato Dow Jones Target 2010, 2015, 2020, 2030 and 2040 Funds.

The funds are based on Dow Jones indexes, which in turn are based on six Dow Jones equity indexes and three Lehman bond indexes. The cash component of each fund is based on a Lehman Treasury bill index.

The 2010 Fund has 18 percent allocated to equities, 75 percent to fixed income and seven percent in cash, whereas the 2040 Fund has 90 percent in equities, 6 percent in fixed income and 4 percent in cash.

According to the fund's prospectus, the funds will be managed by Jared Goldstrom, vice president and portfolio manager at Arrivato.

Class A shares of the funds have after-waiver net operating expenses of 160 basis points; Class C shares have net expenses of 220 basis points.

Arrivato is in talks with several independent broker-dealers and 401(k) recordkeepers regarding distribution of the funds, said Rubin. The fund firm is targeting firms like Pershing, ING and Schwab, said Rubin.

Besides target-date funds, Arrivato plans on offering separate accounts, said Eric Rubin, president of Arrivato. Rubin co-founded the firm in September of 2004 with John Pileggi.

Rubin and Pileggi are no strangers to the fund and 401(k) business; Rubin said he ran internal sales of mutual funds at ING and started the firm's 401(k) business back in 2000, opening ING's first 401(k) plan for the National Basketball Association.  

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