MADISON, Wis. — Assets under management in the MEMBERS Capital Advisors- managed MEMBERS Mutual Funds and Ultra Series Funds Target Allocation and USF Target Date Funds have grown to exceed $500 million despite a slide in the stock market since October 2007.

This marks a significant achievement for these funds as the "fund of funds" approach in question has been offered for only 20 months, CUNA Mutual Group said. Since January 2008, new deposits into the funds total approximately $70 million collectively.

The Target Allocation and Target Date funds utilize a fund of funds strategy by investing directly into other underlying mutual funds as opposed to individual stocks and bonds. "This is appealing to many investors because the strategy offers broad diversification across many asset classes and mutual funds managed by both MCA and outside managers, thereby providing "double diversification" and on-going professional management," CUNA Mutual said.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.