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USAA launches innovative new mutual fund
Contact:
Ben Tanner
(212) 453-2301
USAA has launched a new mutual fund, the USAA Total Return Strategy FundSM. The fund is innovative because it allocates virtually 100 percent of its assets in either stocks, bonds, or cash equivalents at any one time.
The fund uses exchange-traded funds (ETFs) extensively to implement its investment strategy, offering both low cost and liquidity. The fund seeks positive returns every calendar year, and to outperform the S&P 500 Index over five years or more, with less risk.
"This fund will invest in stocks or bonds only when they appear to offer extraordinary gains — and if they don't, it will remain in cash equivalents," said Chris Claus, president and chief executive officer of USAA Investment Management Company. "To make that determination, we will use a disciplined, objective decision-making process with pre-set buy/sell rules. Investors should consider this fund as part of a well-diversified portfolio."
USAA Investment Management Company portfolio managers, Stuart H. Wester, vice president, Equity Investments, and Pam Bledsoe Noble, vice president, Money Market Funds, will co-manage the fund.
USAA Investment Management Company is a direct marketer of no-load mutual funds totaling an estimated $29 billion in assets under management in a range of equity, fixed-income, and money market funds.
USAA is a highly competitive financial services company known for its financial strength and outstanding service to its members. USAA owns or manages assets of $83 billion, and provides insurance, banking, and investment products to more than 5 million members of the U.S. military and their families. Founded in 1922, USAA has 21,000 employees in its San Antonio headquarters and regional offices, and is widely recognized as one of the best places to work in America. |
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