The Tax-Coordinated Portfolio also lowers investors’ dividend tax liability from taxable accounts.
Betterment now manages over $5.6 billion in assets for more than 185,000 customers.
Goldman Sachs Introduces Target Date Fund Suite
Goldman Sachs has announced a new suite of target-date retirement funds. The Madison Target Retirement Funds have been adopted from Madison Asset Management and expanded to create eight target-date mutual funds in five-year increments from 2020 to 2055.
The funds will take an open architecture approach, allowing managers to invest in non-affiliated mutual funds. Goldman Sachs believes that this will allow advisors to avoid potential manager concentration and conflicts of interest.
The new funds will also allow managers to reflect their current market views by using a tactical asset allocation around the funds’ glide paths to address volatility and longevity risk.
BlackRock Launches ESG Bond Fund
BlackRock has launched a socially responsible bond mutual fund.
The BlackRock Impact Bond Fund will aim to generate returns while investing in measurable social and environmental outcomes.
The fund, which will trade under the ticker BIIIX, is BlackRock’s first socially responsible U.S. fixed-income fund since the launch of the firm’s $200 billion sustainable investing platform, BlackRock Impact.