BlackRock’s ETF unit, iShares, is planning to launch two new funds, Index Universe reports. The iShares S&P Target Date 2045 Index Fund and the iShares S&P Target Date 2050 Index Fund will seek to replicate a respective S&P benchmark.

The vehicles are designed for investors expecting to retire or to begin gradually withdrawing their money around such target dates. The funds will consist of securities of other iShares funds that tap into U.S. equities, bonds and international securities.

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