Wells Fargo Funds Distributor initiated Thursday what it calls the first registered target date mutual funds capable of tracking the performance of the global Dow Jones Target Date Indexes.
Wells Fargo says the funds, which are known as the Wells Fargo Advantage Outlook Funds, are designed to be a comprehensive solution so that investors can “set it and forget it.”
The funds set the funds up so they gradually grow more conservative as the target retirement date indicated in the fund’s name approaches.