US - Wilshire Funds Management has been selected to manage a range of new lifestyle funds being launched by Lincoln National Life Insurance Company.
Lifestyle funds are a type of defined contribution (DC) fund offering different risk profiles that investors can shift invested funds between in order to manage risk effectively as they move from youth to middle age and finally to retirement. They are being increasingly pushed in the global move towards DC to take the pressure of individuals, who may lack the knowledge to select an appropriate asset allocation.
The Lincoln VIP Profile Funds – LVIP Conservative Profile, LVIP Moderate Profile, LVIP Moderately Aggressive Profile and LVIP Aggressive Profile – will be managed by Wilshire Funds Management, a business unit of investment management and consultancy firm Wilshire Associates.
“With less access to traditional pension plans, more and more clients are searching for retirement income solutions,” said Michael Schulitz, managing director of the Elite Series of Funds at Lincoln.
“What is becoming apparent is that clients want a simple, but comprehensive asset allocation strategy that is integrated into their personal income strategy.”
Alex Chaloff, managing director, Wilshire Associates and head of client services for Wilshire Funds Management, said through the relationship, the firm would build portfolios that look ahead at people’s individual income needs in retirement.
The four new lifestyle funds are risk-based asset allocation strategies that will be available in select Lincoln variable products.
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