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Friday, August 20, 2010

Vanguard Courts the Young Crowd

News summary by MFWire's editors

Friday's Wall Street Journal Fund Track column picks up on the Wednesday launch of Vanguard Group's [see profile] newest target-date fund, the Vanguard Target Retirement 2055 Fund. [See coverage on The MFWire.com's sister publication, The 401kWire.com]

In an interview with the WSJ's Daisy Maxey, Vanguard chairman and CEO Bill McNabb said the launch stemmed from interest expressed by parents, grandparents and younger investors themselves.

The product is also intended "a little bit of a statement about starting to invest as soon as possible and doing so in a diversified manner," McNabb told Maxey.

With the rollout of the new fund -- Vanguard's 12th target-date product -- Vanguard adds itself to a small group of fund firms that have launched 2055 target-date offerings. 

Edited by: Hung Tran

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