Russell Investment Group
has joined the retirement income mutual fund game, filing with the SEC to launch three funds.
In a filing
dated November 21, Russell unveiled plans to roll out A shares for the Retirement Income Distribution Fund I
; the Accelerated Distribution Funds I
and the Extended Distribution Fund I
Russell's funds are on the expensive end of the retirement income spectrum, with expense ratios of 133 basis points for the Retirement Income Distribution Fund, 124 bps for the Accelerated Distribution Fund, and 128 basis points for the Extended Distribution Fund.
By comparison, Vanguard's
fund of funds carries an expense of 34 bps, Fidelity's
funds carry expenses of 54 to 65 bps, and Schwab's
funds carry an expense ratio of 63 to 87 bps. Hancock's
funds most closely match Russell's expense ratios with fees of 135 to 205 bps.
Stay ahead of the news ... Sign up for our email alerts now