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Monday, October 03, 2016|
A $17B Subadvised Fund Family Will Liquidate This Month
A $16.9-billion subadvised mutual fund family will liquidate this month in favor of a different product structure: collective funds.
ICMA-RC previously confirmed plans to move the Vantagepoint Funds assets into collective investment trust funds (CITs), a mutual-fund-like bank product with more pricing flexibility and no Investment Company Act of 1940 looming over it. A company spokesman confirms to MFWire that ICMA-RC is "on schedule" with the mutual-funds-to-CITs conversion.
The Vantagepoint funds include the Vantagepoint Milestone target date fund series, which date back to 2005. And the multi-manager Vantagepoint Diversifying Strategy Fund was launched in 2007.
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