Monday, October 01, 2007
They walk and quack like ducks, but ...
Vanguard will be calling them Managed Payout Funds, not "annuities," and they will be an alternative for retirees to get steady monthly income without worrying about investment management issues. The new mutual funds will reportedly be sold without sales commission or 12b-1 fees.
Posts
1 comment:
According to this Wall Street Journal item (subscription), Vanguard's new funds also will invest in "commodity-linked investments as well as market-neutral or other absolute-return strategies. Market-neutral strategies seek to maintain low net exposure to the stock market by buying securities that are expected to rise in value while shorting similar securities expected to decline in value.... The commodity investments will include assets such as agricultural products, industrial metals and energy products, said Amy Chain, a Vanguard spokeswoman."
Doesn't that sound a bit like the investment mix David Swensen uses for the Yale endowment?
Post a Comment