When you can clearly see the target, your retirement planning will start falling into sharper focus.
To help you, Equitable Investment Management, LLC (EIM) offers the 1290 Retirement Funds, a series of mutual funds with specific retirement target dates and a guided risk-management discipline. Each Fund has a built-in allocation glide-path that seeks to anticipate your risk tolerance at different stages of life. The Fund's investments in underlying exchange traded securities and other investment vehicles ("Underlying ETFs") are then adjusted to maintain an age-appropriate balance between seeking capital growth and capital preservation.
You make one decision - to purchase the Fund that best corresponds to your target date. Thereafter, the risk-management discipline takes over to help you simplify investing — all the way to retirement and beyond.
Each of the nine 1290 Retirement Funds features:
The Funds invest in Underlying ETFs, which represent a variety of asset classes. The Funds are managed to target the specific year of planned retirement (the “retirement year” or “target year”) in five year increments from 2020 to 2055. The retirement year also assumes that an investor retires at age 65; however, the Fund should not be selected solely on the basis of an investor’s age or the target year. The Fund’s asset mix will become more conservative each year until reaching the year approximately 10 years after the retirement year at which time it is intended that the asset mix will become relatively stable. The Fund balances the need for appreciation with the need for income as retirement approaches, and focuses on supporting an income stream over a long-term retirement withdrawal horizon. The Fund is not designed for a lump sum redemption at the target year and does not guarantee a particular level of income. The Fund maintains significant allocations to equities both prior to and after the target year and is generally expected to reach its most conservative allocation 10 years after the target year.
The Funds seek the highest total return over time consistent with its asset mix while managing portfolio volatility. Total return includes capital growth and income.
|1290 Retirement 2020 Fund||Open||TNIIX||68259P 307||US68259P3073|
|1290 Retirement 2025 Fund||Open||TNJIX||68259P 703||US68259P7033|
|1290 Retirement 2030 Fund||Open||TNKIX||68259P 869||US68259P8692|
|1290 Retirement 2035 Fund||Open||TNLIX||68259P 828||US68259P8288|
|1290 Retirement 2040 Fund||Open||TNNIX||68259P 778||US68259P7785|
|1290 Retirement 2045 Fund||Open||TNOIX||68259P 737||US68259P7371|
|1290 Retirement 2050 Fund||Open||TNWIX||68259P 687||US68259P6878|
|1290 Retirement 2055 Fund||Open||TNQIX||68259P 646||US68259P6464|
$1,000,000 for certain institutions and individuals
• $1,000 for certain employees (or their immediate family members) of Equitable Financial or its subsidiaries
• Class I shares are available to clients of registered investment advisers who have $250,000 invested in the Fund
• No minimum investment for a wrap account client of an eligible broker-dealer or a client of a fee-based planner that is unaffiliated with a broker-dealer
1quarter holdings are based on the fiscal year
Top holdings exclude cash, cash equivalents and money market funds.
|Fund||Gross expense ratio||Net expense ratio3|
|1290 Retirement 2020 Fund - Class I shares|
|1290 Retirement 2025 Fund - Class I shares|
|1290 Retirement 2030 Fund - Class I shares|
|1290 Retirement 2035 Fund - Class I shares|
|1290 Retirement 2040 Fund - Class I shares|
|1290 Retirement 2045 Fund - Class I shares|
|1290 Retirement 2050 Fund - Class I shares|
|1290 Retirement 2055 Fund - Class I shares|
Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For the most current month-end performance data please call (855) 379-9186.
One cannot invest directly in an index.
Returns for periods of less than one year are not annualized.
1Fund inception date of Febuary 27, 2017.
2The S&P Target Date® Index Series comprises eleven multi-asset class indices, each corresponding to a particular target retirement date. The asset allocation for each index in the series is determined once a year through survey of large fund management companies that offer target date products. Each index is fully investable, with varying levels of exposure to equities, fixed income and commodities.
3Pursuant to a contract, Equitable Investment Management, LLC (the “Adviser”) has agreed to make payments or waive its and its affiliates’ management, administrative and other fees to limit the expenses of the Fund through April 30, 2024 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) (“Expense Limitation Arrangement”) so that the annual operating expenses (including Acquired Fund Fees and Expenses) of the Fund (exclusive of taxes, interest, brokerage commissions, capitalized expenses (other than offering costs), 12b-1 fees, dividend and interest expenses on securities sold short, and extraordinary expenses not incurred in the ordinary course of the Fund’s business) do not exceed an annual rate of average daily net assets of 0.65% for Class A shares, Class T shares, Class I shares, and Class R shares of the Fund. The Expense Limitation Arrangement may be terminated by the Adviser at any time after April 30, 2024. The Adviser may be reimbursed the amount of any such payments or waivers in the future provided that the payments or waivers are reimbursed within three years of the payments or waivers being recorded and the Fund’s expense ratio, after the reimbursement is taken into account, does not exceed the Fund’s expense cap at the time of the waiver or the Fund’s expense cap at the time of the reimbursement, whichever is lower. The total annual fund operating expense ratios after fee waiver and/or expense reimbursement for Class A shares, Class T shares, and Class R shares, as shown in the table, are higher than the Fund’s expense cap because these ratios include 12b-1 fees and certain other expenses, as noted above, that are excluded from the Expense Limitation Arrangement.
|Class||Record date||Ex-date||Payable date||Ordinary income||Short-term capital gain||Long-term capital gain||Total|
An investment in the fund will not ensure that an investor will have assets sufficient to cover retirement expenses or that an investor will have enough saved to be able to retire in, or within a few years of, the target year identified in the Fund's name. Equity securities involve the risk that the value of the securities may fluctuate, sometimes widely fluctuate, in response to changes in a company's financial condition as well as general market, economic and political conditions and other factors. Fixed income investments are subject to interest rate risk so that when interest rates rise, the prices of fixed income securities can decrease and the investor can lose principal value.
Investments in foreign securities, including depositary receipts, involve risks not associated with investing in U.S. securities. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets. Security values also may be negatively affected by changes in the exchange rates between the U.S. dollar and foreign currencies. Differences between U.S. and foreign legal, political and economic systems, regulatory regimes and market practices also may impact security values and it may take more time to clear and settle trades. Equity securities involve the risk that the value of the securities may fluctuate, sometimes widely fluctuate, in response to changes in a company's financial condition as well as general market, economic and political conditions and other factors. To the extent a Fund invests in Underlying ETFs, the Fund will be subject to the risks associated with the securities and other investments in which the Underlying ETF invest and the ability of the Fund to meet its investment objective will directly depend on the ability of the Underlying ETFs to meet their investment objective. In addition, the use of volatility management techniques by the Underlying ETF may limit the Fund's participation in market gains, particularly during periods when market values are increasing, but market volatility is high.
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