TY - JOUR T1 - Practical Applications of Balancing on the Life Cycle: <em>Target-Date Funds Need Better Diversification</em> JF - Practical Applications SP - 1 LP - 4 DO - 10.3905/pa.2017.5.1.223 VL - 5 IS - 1 AU - Jusvin Dhillon AU - Antti Ilmanen AU - John Liew A2 - Mack, Barbara J. Y1 - 2017/07/31 UR - https://pm-research.com/content/5/1/1.3.abstract N2 - Balancing on the Life Cycle: Target-Date Funds Need Better Diversification Jusvin Dhillon Antti Ilmanen John Liew In Balancing on the Life Cycle: Target-Date Funds Need Better Diversification , published in the Summer 2016 issue of The Journal of Portfolio Management , Jusvin Dhillon, Antti Ilmanen and John Liew of AQR Capital Management examine life-cycle funds, which have become an enormous industry in recent years.Such funds offer retail investors a useful option in the quest to save for retirement. However, life-cycle funds do have some drawbacks, and are under-diversified in several key areas. Dhillon and his co-authors evaluate five dimensions of under-diversification and show how to address each issue, resulting in better performance for people who are saving for retirement.TOPICS: Mutual funds/passive investing/indexing, wealth management ER -