Last week Vanguard [profile] extended its target date fund lineup five more years. On Thursday the Valley Forge, Pennsylvania-based low-cost mutual fund giant rolled out the Target Retirement 2060 Fund (VTTSX), aimed at workers who are currently 18-20 years old.

Marlene Satter of Advisor One reported on the news.

The new mutual fund, like the rest of Vanguard's target date lineup, is a fund of other Vanguard funds. It includes exposure to domestic bonds, domestic stocks and international stocks. The fund comes with an expected expense ratio of 18 basis points and a minimum investment requirement of $1,000. AdvisorOne notes that Vanguard's normal minimum investment requirement is $3,000 and that Vanguard waives the minimum for defined contribution plan participants who buy the new fund. 

Edited by: HFD


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