Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Reinvented Fund Plays to Boomer Market Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, July 06, 2006

Reinvented Fund Plays to Boomer Market

Reported by Marie Glancy

A Minneapolis-based financial firm has converted one of its two high-yield bond offerings into an income fund for the baby boomer market.

Thrivent Investment Management officially launched its Thrivent Diversified Income Plus Fund with an announcement Wednesday. Targeted at pre-retirees and those in retirement, the fund combines high-yield bonds with dividend-paying stocks, REITs, and investment-grade bonds to gather income from a range of sources. It's managed by Mark Simenstad, the firm's head of fixed-income mutual funds.

In its February 2006 prospectus, Thrivent unveiled the new investment objectives that accompanied the fund's renaming from Thrivent High Yield Fund II.

Spokesperson Brant Skogrand explained that when Thrivent Financial formed from the merging of Lutheran Brotherhood and Aid Association for Lutherans in 2002, it inherited two high yield bond funds. "The High Yield Fund II had quite a small asset base and didn't look like it was going to grow further," said Skogrand. With demand for income-generating funds increasing, the company decided to convert and re-brand the smaller of the two.

Simenstad added that mixing equity investments into the fund allowed longer term capital gains to counterbalance the old fund's tax loss carryforwards, "a meaningful advantage for shareholders."

The Diversified Income Plus fund has an expense ratio of 97 basis points.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use