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Rating:401k Investors Won't GIP Funds, Says Research Not Rated 1.0 Email Routing List Email & Route  Print Print
Friday, April 09, 2010

401k Investors Won't GIP Funds, Says Research

Reported by InvestmentWires Staff, 

The 401k Round Up is a weekly column aimed at keeping mutual fund industry insiders updated on what's happening in the 401(k) industry. Below are quick takes on stories that originally appeared on The MFWire's sister publication, The 401kWire.


For the past few years, insurance companies have been trying to reclaim their stake of the retirement industry from mutual fund companies using guaranteed income products (GIPs), which some might call "target death funds." However neither employers nor employees have taken to the platforms. And according to Brightworks Partners principal Ron Bush, the products will not work unless the next generation evolves past flaws. That means that fund industry executives can breath a sigh of relief, at least for now.

After an investigation into the three most established guaranteed products -- the Prudential Income Flex Target, John Hancock Guaranteed Income for Life - Select and Great-West's Secure Foundation -- Bush suggests increased standardization and decoupled fees could save guaranteed products from their own retirement.

* * *
For mutual fund firms looking to get into the 401(k) space, there's a (sort of) new recordkeeper in town and they're looking to acquire. In the fall Bob Beriault finally freed Lincoln Trust Company from Fiserv, and now he's tapped one of his own with a mandate to buy one or two 401(k) providers each year. 

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