MassMutual is deploying a new sales and operations team in an effort to win market share for its mutual fund and stable value fund products.
MassMutual markets 21 U.S. equity funds, six global equity funds, 18 blended funds, including its proprietary RetireSmart target-date funds, seven fixed-income funds, and one money market fund. Currently, those funds hold $80 billion in assets. The new DCIO team's goal is to grow that by another $30 billion over the next five years.
Aruna Hobbs, head of institutional investments for MassMutual, has been tapped to lead the Defined Contribution Investment Only team. She was hired last fall to lead the company's effort to grow its mutual fund business.
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