While most funds have suffered lately, the downturn has been particularly excruciating for investors in target-date funds.During the third quarter, the average target fund lost 10%, compared with a loss of 8.4% for the S&P 500, according Ibbotson Associates, a Chicago research firm. "Many investors were shocked by the unexpected losses in target funds," says Tom Idzorek, Ibbotson's chief investment officer.
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