UBS's trust company subsidiary is upping its ante in the collective investment trust market with three new passively managed target date funds.
It is the latest such rollout of CITs, the mutual-fund-like investment products managed by bank trust companies and regulated by the Office of Comptroller and Currency or state bank regulators.
Because CITs are only available to defined contribution and benefit markets, they bear less disclosure, marketing and compliance costs, compared to mutual funds that are regulated by the SEC and available for retail distribution. That translates to competitive expense ratios for plan participants.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
