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Thursday, February 3, 2000 CIGNA Expands Its Charter Family CIGNA launched nine new, no-load mutual funds as part of its Charter Funds family for employee retirement investment plans, on February 1. Each fund has a distinct and disciplined investment style and is offered in three fund classes: institutional, premier and retail.
"One of our visions is to be a total retirement services provider. We want the employee and employer to look at their retirement positions and not have to change investments in their non-qualified plans and IRAs," Kalamarides said. "Now the funds are institutionally managed with the things investors have liked." According to a 1998 Employee Benefits Research Institute report, 42% of all workplace employees reported rolling some or all their funds over to an IRA when they retire or change jobs. Often these IRA providers do not offer the same funds that were in an individual's 401(k) plan, which makes the rollover process more difficult for the individual. The new funds are: "They all have a very specific investment objective and strict style consistency," Kalamarides said. "We choose funds that allow appropriate asset allocation for retirement." Printed from: MFWire.com/story.asp?s=25323 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |