First Mercantile Launches LifeStyle Target Date Fund Series
MEMPHIS, TN, October 15, 2007 -- First Mercantile is pleased to announce the launch of the LifeStyle Target Date Strategy funds. Each of the five target date funds (Now, 2020, 2030, 2040 and 2050) aims to satisfy the needs of a participant with a retirement date at or near the target date of the fund. These maturity-based asset allocation funds complement First Mercantile's existing offering of risk-based asset allocation funds.
"Our risk-based LifeStyle Funds have been popular investment vehicles for plan participants as they simplify the selection of a diversified investment platform," said Alan Dunaway, President of First Mecantile. "Now participants can easily diversify their portfolios based either on a risk comfort level or a retirement date goal."
According to Chief Investment Officer Adam Eagleston, "As with our risk-based LifeStyle Funds, the LifeStyle Target Date Strategies leverage one of our key differentiating factors as a firm, which is our rigorous selection and monitoring of institutional money managers." First Mercantile implements each LifeStyle Strategy using the institutional money managers offered on its platform. Since first offering collective investment funds in 1985, First Mercantile has developed one of the most rigorous due diligence processes in the retirement plan industry. First Mercantile's Adviser Review Committee, backed by a full-time staff of investment professionals, employs that same process for all of its sub-advised funds, including the LifeStyle Funds.
About First Mercantile
First Mercantile is headquartered in Memphis, Tennessee and is a wholly owned subsidiary of SunTrust Banks, Inc., one of the nation's largest banking organizations. First Mercantile has provided retirement plan products and services for more than 34 years to businesses and individuals nationwide. For more information, visit www.firstmerc.com.
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