Abstract
Practical Applications Summary As defined benefit (DB) plans continue to give way to defined contribution (DC) plans in the US retirement landscape, white label funds offer plan managers a way to provide individual participants with the advantages of active management while fulfilling their fiduciary responsibility to pursue the best possible returns for the lowest possible fees. In White Label Funds: A No-Nonsense Design Handbook, published in the Spring 2017 issue of The Journal of Retirement, Rod Bare, Jay Kloepfer, Lori Lucas, and James Veneruso move beyond the common conception of white label funds as simple unitization vehicles to champion a customized structure that affords the greater pricing efficiency and rigorous governance of DB plans. The authors have compiled their insights into a how-to guide that lays out who should use such funds, what the benefits are, and the nuts-and-bolts of how to construct and manage them, using a hypothetical non-US equity white label fund as an example.
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