is adding ETF versions of its target asset allocation funds. The New York-based fund firm will create three target maturity funds that invest in exchange-traded funds for use in both the retail and retirement channels.
The firm will brand the funds as the TargetHorizon ETF Portfolios
. Two of the three funds carry target dates (2015 and 2025) while the third "core" fund is designed for investors who expect to withdraw assets or retire in a short time.
The asset allocation for each of the funds is based on Seligman's Time Horizon Matrix
risk management strategy, according to Charles Kadlec
, president of Seligman Advisors and co-portfolio manager of the funds.
Asset allocation funds that provide shareholders one-stop investing have been one of the fastest growing niches during the past three years. However, few fund firms have added versions of the funds that focus exclusively on ETFs.
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