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Voya Investment Management Expands access to retail target date funds

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Voya Investment Management, the asset management business of Voya Financial has expanded access to its target date mutual fund series, the Target Retirement Funds.   

The Funds, which celebrated their three year anniversary this past December, have been added to several leading defined contribution platforms including Paychex, ADP and Ascensus. Voya has also launched two new share classes, A and R6, due to high demand from retirement plans.

"As a pioneer in target date solutions, with over a decade of experience and over USD11 billion in target date assets, we are proud to fulfil an industry need and enhance our offerings in the DCIO space," says Jake Tuzza (pictured), head of Intermediary Distribution. "In our most recent 'Participant Preferences' survey, we found that target date investors value a multi-manager structure, allowing for a more diverse array of asset classes and investment managers, as well as a reduction in single manager risk. This is a unique feature of our target date strategy."

"We are very pleased to offer Voya's target date funds as part of our offerings," says Mike Narkoff, executive vice president, sales, at Ascensus. "These products fit very nicely with our goal to help our clients save for their retirement."

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