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Wednesday, March 02, 2011

Target Date Fund Fees Cluster

News summary by MFWire's editors

Not all target date mutual fund families are created equal when it comes to revenue. Dow Jones' Ian Salisbury, drawing on Morningstar data, reports on the size of the niche asset class, both in terms of assets and revenue. Not surprisingly to fundsters in the know, the business is concentrated in the hands of three players.

According to the wire service, the $330 billion in target date funds generates about $2.2 billion in total revenue. More than 75 percent of the assets and 66 percent of the revenue is tied to three mutual fund families: Fidelity [see profile], which rakes in about $900 million from its $121 billion in target date assets; Vanguard [see profile], which brings in about $135 million from its $75 billion series; and T. Rowe Price [see profile], which brings in about $420 million from its $54 billion series. Spokespeople from Fido and T. Rowe disputed Dow Jones' revenue estimates, but they did not provide alternative figures. 

Edited by: Neil Anderson, Managing Editor


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