Morningstar's Target-Date Fund Series Rating and Research Reports are designed to help individuals, financial advisors, plan sponsors, and other investors and fiduciaries make informed decisions when evaluating a series of target-date funds.
Target-date funds are marketed as a one-decision, comprehensive investment option that investors can hold through their retirement years. The funds tend to invest more aggressively in the decades before retirement and shift their asset mixes so they are more conservative in the years immediately preceding and following retirement. The mutual fund industry refers to this shift in assets as a fund's "glide path."
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