Franklin Templeton Investments has expanded its target date fund lineup, introducing the Franklin LifeSmart 2055 Retirement Target Fund on June 10.
The new fund “is aimed at Millennial investors who plan to retire in or near the year 2055 and reflects our ongoing commitment to innovating solutions for the retirement marketplace," according to Yaqub Ahmed, head of the investment-only division in the U.S. for Franklin Templeton Investments.
The new fund joins a lineup that includes 2015, 2020, 2025, 2030, 2035, 2040, 2045 and 2050 funds. Like those funds, the 2055 fund will target a 5% allocation to alternative investment funds to take advantage of their lower correlation, in general, with traditional asset classes. The funds’ managers have the ability to tactically adjust this allocation within a range of zero to 10% as they shift the funds’ allocations based on changing market conditions.
