American Funds, the investment management company owned by Capital Group that recently overtook Fidelity as the second largest provider of mutual funds by total assets, has launched an analytics tool to help plan advisors and sponsors vet the quality of target date funds offered in retirement plans.

Target Date ProView was designed to align with guidance issued by the Department of Labor in 2013 on TDFs, and uses Morningstar data to provide "unbiased evaluation" of the quality of life-cycle funds, according to a statement from the company.

The company claims its new evaluation platform differentiates itself form other providers' TDF analytics tools by offering a traditional review of products and a second "deeper view."

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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.