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Morningstar’s Annual Target-Date Strategy Landscape

Target-date strategies play a central role in many Americans’ retirement accounts, as they often serve as the default investment option in defined-contribution retirement plans. In our annual report, we uncover the market trends and driving factors behind the growth of target-date strategies.

In this report, you will learn:
  • Key market considerations for target-date managers and investors
  • Our analysis of fee trends across target-date strategies
  • How assets across target-date funds, mutual funds, and CITs have changed over time
  • The asset managers dominating the target-date landscape

Investment research is produced and issued by subsidiaries of Morningstar, Inc. including, but not limited to, Morningstar Research Services LLC, registered with and governed by the U.S. Securities and Exchange Commission. The information, data, analyses and opinions presented herein do not constitute investment advice; are provided solely for informational purposes and therefore are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. The opinions expressed are as of the date written and are subject to change without notice. Except as otherwise required by law, Morningstar shall not be responsible for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses or opinions or their use. This report is for informational purposes only and has no regard to the specific investment objectives, financial situation or needs of any specific recipient. This publication is intended to provide information to assist investors in making their own investment decisions, not to provide investment advice to any specific investor. Therefore, investments discussed and recommendations made herein may not be suitable for all investors: recipients must exercise their own independent judgment as to the suitability of such investments and recommendations in the light of their own investment objectives, experience, taxation status and financial position. An investment in a target date fund is not guaranteed, and you may experience losses, including losses near, at, or after the target date. There is no guarantee that the fund will provide adequate income at and through your retirement.