BOSTON ( TheStreet) -- Investors may be losing as much as $1.3 billion a year because of target date funds' underperforming investments and fees, according to a study by Georgia State University.Conflicts of interest can arise when fund managers turn to their own companies' mutual funds for employee retirement plans. Target date funds tend to select high-fee and underperforming funds, resulting in the worst-case scenario seen in research by Vallapuzha Sandhya, a doctoral student of finance at Georgia's J. Mack Robinson College of Business, data from 2003 to 2008 show.
Target Date Funds Are No Bargains, Study Says
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