MutualFundWire.com: McNamara Launches Six USAA Allocation Funds

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Monday, June 11, 2012

McNamara Launches Six USAA Allocation Funds

USAA Investments [profile], a money manager focused on members of the U.S. military, is rolling out six target-risk funds. These will be four new funds and two existing ones called USAA Cornerstone Funds.

These funds will feature varying risk strategies, ranging from conservative to aggressive, and require a minimum investment of $500, with an automatic $50 monthly investment. According to Dan McNamara, USAA's president, these six funds will be launched to help investors manage their exposure to risk and diversify their portfolios.

The six new funds are

USAA Cornerstone Conservative Fund (USCCX)
USAA Cornerstone Moderately Conservative Fund (USMCX)
USAA Cornerstone Moderate Fund (USBSX); formerly the USAA Balanced Strategy Fund
USAA Cornerstone Moderately Aggressive Fund (USCRX); formerly the USAA Cornerstone Strategy Fund
USAA Cornerstone Aggressive Fund (UCAGX)
USAA Cornerstone Equity Fund (UCEQX)

These will bring the San Antonio-based money manager and insurer's slate of mutual funds up to fifty, comprising a total of $50 billion in AUM. USAA is open to some 9 million members of the U.S military, veterans, and their families, yet the funds are open to the public.

See the full press release below.

USAA Launches Six New Target-Risk Funds

New Funds Help Investors Control Exposure to Investment Risk

SAN ANTONIO--(BUSINESS WIRE)--

USAA Investments is launching six target-risk mutual funds that offer broad diversification and the ability to select conservative to aggressive models that help investors control their risk exposure. The series consists of four new funds and two existing funds called USAA Cornerstone Funds.

The funds were designed to make it easier for investors to help build a balanced portfolio. These funds will utilize asset allocation, portfolio construction and risk reduction. Investors can choose to move investments among the individual mutual funds as their investment needs and risk tolerance change. Participation in the funds requires a low minimum investment of $500, with an automatic investment of $50 a month.

“In an era of ongoing volatility, investors told us they wanted investments that helped them manage their risk exposure,” said Dan McNamara, president of USAA Investments. “These six funds utilize USAA’s best thinking and offer a diversified portfolio solution to help investors at all risk levels with their investment goals.”

The funds include:

USAA Cornerstone Conservative Fund (USCCX)

USAA Cornerstone Moderately Conservative Fund (USMCX)

USAA Cornerstone Moderate Fund (USBSX); formerly the USAA Balanced Strategy Fund

USAA Cornerstone Moderately Aggressive Fund (USCRX); formerly the USAA Cornerstone Strategy Fund

USAA Cornerstone Aggressive Fund (UCAGX)

USAA Cornerstone Equity Fund (UCEQX)

USAA Investments has over $50 billion in mutual fund assets under management. USAA’s fund family includes 50 mutual funds that are open to all investors by visiting usaa.com or calling 1-800-531-USAA (8722). Many USAA funds also are available through firms such as TD Ameritrade, Vanguard, Pershing and Fidelity.

About USAA

USAA provides insurance, banking, investment and retirement products and services to 9 million members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving or have honorably served our nation in the U.S. military – and their eligible family members. For more information about USAA, or to learn more about membership, visit usaa.com.