Empower Lifetime 2060 Fund Service Class is a target-date mutual fund designed for individuals planning to retire around the year 2060. Its primary function is to facilitate long-term retirement savings by offering a diversified, professionally managed portfolio that aims for capital appreciation and income consistent with its current asset allocation. The fund initially emphasizes growth by investing predominantly in equities but will gradually shift to a more conservative allocation—incorporating bonds, real estate investment trusts (REITs), inflation-protected securities, and cash—as the target retirement date approaches. This fund operates as a fund of funds, allocating assets across multiple underlying funds to ensure broad diversification and risk management. Its holdings span domestic and international stocks, fixed income securities, and alternative assets, reflecting a comprehensive approach to portfolio construction. The Empower Lifetime 2060 Fund Service Class plays a significant role in the retirement planning market, serving as a cornerstone option for investors seeking a structured, long-term investment solution adaptable to their changing risk profiles as retirement nears.
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