Fund management

Tom Rampulla on the US market, target date pensions and costs

Tom Rampulla, managing director Vanguard Investments UK, explains how US investors have been on their own for longer, so far as pensions are concerned. He says target date funds are still the best route for most savers, despite huge losses suffered by many that matured in 2008. He emphasises the importance of costs in long-term savings such as pensions.