SAN ANTONIO, Texas, Oct. 3, 2016 (GLOBE NEWSWIRE) -- via PRWEB - USAA is now making it easier for members to access its mutual fund offerings by lowering the minimum investment for its Target Retirement, Target Risk and First Start Growth Funds.
The minimum investment without a systematic plan has decreased to $500 from $1,000. Additionally, the minimum when using an automatic investment plan has dropped to $50 from $500. The minimum automatic monthly investment of $50 will remain the same.
"We made the decision to lower the minimums of these funds to help our members start investing now and better prepare for their financial future," said Brooks Englehardt, president of USAA Investment Management Co. "We believe every dollar is important in making progress toward our members' financial goals. This reduction in investment minimums creates access for more people to invest in our competitive investment solutions."
The fund minimum reductions will be applied to the following USAA funds:
- USAA Cornerstone Conservative Fund (USCCX)
- USAA Cornerstone Moderately Conservative Fund (UCMCX)
- USAA Cornerstone Moderate Fund (USBSX)
- USAA Cornerstone Moderately Aggressive Fund (USCRX)
- USAA Cornerstone Aggressive Fund (UCAGX)
- USAA Cornerstone Equity Fund (UCEQX)
- USAA Target Retirement 2060 Fund (URSIX)
- USAA Target Retirement 2050 Fund (URFFX)
- USAA Target Retirement 2040 Fund (URFRX)
- USAA Target Retirement 2030 Fund (URTRX)
- USAA Target Retirement 2020 Fund (URTNX)
- USAA Target Retirement Income Fund (URINX)
- USAA First Start Growth Fund (UFSGX)
USAA Investments has $69 billion in mutual fund assets under management. USAA's fund family features 52 mutual funds that are open to all investors and offers opportunities for beginning to more experienced investors to strengthen their financial security.
According to the 2016 Retirement Confidence Survey (RCS) conducted by the Employee Benefit Research Institute, 69 percent of workers report they or their spouses have saved for retirement. However, a sizable percentage of workers report they have virtually no savings and investments. Among survey respondents providing this type of information, 26 percent say they have less than $1,000 saved.
About USAA
The USAA family of companies provides insurance, banking, investments, retirement products and advice to 11.7 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.
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