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Three Key Pillars of Target Date Fund Evaluation
Guest: Rich Weiss
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By leaps and bounds, target date funds, or lifecycle funds are the fastest growing investment in 401(k) plans primarily due to their popularity with plan sponsors as the qualified default investment alternative, or QDIA in their 401(k) plan. As some fiduciaries are starting to realize, evaluating target date funds can be a bit tricky due to the numerous variances in style from one fund to another. For that reason, I invited Rich Weiss, Senior Portfolio Manager at American Century Investments to help demystify target date funds and help employers better understand what they should focus on as they evaluate options in the market. Rich does a great job of effortlessly explaining both the fundamentals of target date funds and more specific concepts of risk that employers should be aware in their monitoring and evaluation process. He also discusses the three pillars of differentiation amongst target date managers, glide path construction, investment diversification and management style. As you will hear, some of his perspectives might make you rethink some things about your go forward strategy.
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Guest Bio
Rich Weiss, is a Senior Vice President and Senior Portfolio Manager at American Century Investments. He is the co-portfolio manager for the firm’s asset allocation strategies, including Strategic Allocation, Global Allocation and One Choice Portfolios®. He also serves as a member of the firm’s Asset Allocation Committee, which is responsible for establishing investment policy and reviewing investment decisions for all of our asset allocation products.
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Prior to joining the firm in 2010, Rich was executive vice president and chief investment officer of City National Bank, where he was responsible for their $12 billion investment management group and directed investment policy and strategy. Previously, he was executive vice president and chief investment officer at Sanwa Bank California, where he managed all aspects of their investment department. Earlier in his career, Rich held senior investment positions at Vantage Global Advisors, TSA Capital Management, PaineWebber and Mellon Bank. He has worked in the investment industry since 1984.
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Rich holds a bachelor’s degree in finance from the Wharton School of the University of Pennsylvania and an MBA from the University of Chicago. He has authored several academic papers and is well known for his advanced work in the field of global investing.