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Fund News Advisors Can Use: Target-Date Funds Come Under Fire With Congress In this week s fund news, two congressional leaders put target-date funds under scrutiny, Yale s endowment head David Swensen dies, and Alger launches a new semi-transparent active ETF. Two congressional committee chairs sent a letter to the Government Accountability Office this week, calling for a review of target-date funds. The letter, written by Robert “Bobby” Scott, chairman of the House Committee on Education and Labor, and Patty Murray, chair of the Senate Committee on Health, Education, Labor and Pensions, argues that while TDFs are marketed as “set it and forget it” investments, the funds can vary widely in risk allocations and expenses.

New yorkUnited statesRobert bobby scottPeter saloveyDan chungPatty murrayDavid swensenEnergy etfsYale universityNew york timesSenate committee on healthHouse committee on educationGovernment accountability officeHouse committeeSenate committeePresident peter salovey