Principal LifeTime 2055 Fund
LTFIX
NASDAQ- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Jonathan S. Thomas
- Full Time Employees
- 1,400
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Des Moines, IA 50392 Kansas City MO United States of America 64111
- IPO Date
- Mar 3, 2008
- CIK
- 0000898745
- Website
- americancentury.com
- Similar Companies
- Business
- Principal LifeTime 2055 Fund (LTFIX) operates as a target date mutual fund that seeks total return consisting of long-term growth of capital and current income through an asset allocation strategy designed for investors targeting retirement around 2055. The fund functions as a fund of funds, investing primarily in underlying Principal Exchange-Traded Funds (PETF) and Principal Funds, Inc. (PFI) series, including domestic equity funds such as LargeCap S&P 500 Index Fund, LargeCap Growth Fund I, Blue Chip Fund, Equity Income Fund, and LargeCap Value Fund III; international equity funds like International Equity Fund and Global Emerging Markets Fund; fixed-income funds including Core Fixed Income Fund; real asset funds; and other diversified funds providing exposure beyond traditional equities and bonds, with top holdings as of November 30, 2025, featuring International Equity Fund at 24.75% and LargeCap S&P 500 Index Fund at 20.27%. Launched on February 29, 2008, with institutional class shares (CUSIP 742553712), the fund is managed by Principal Asset Management, a division of Principal Financial Group, Inc., headquartered in Des Moines, Iowa, and serves primarily U.S. retirement plan participants and individual investors through brokerage platforms with total assets of $1.22 billion and a net asset value of $18.81 as of December 16, 2025. It follows a glide path that gradually shifts toward conservative allocations over an approximately 80-year horizon, balancing risks such as market volatility, inflation, and longevity through diversified exposure to core equities (around 58%), international stocks (around 32%), fixed income, real assets, and alternative strategies via underlying multi-manager funds. In recent developments, Principal Asset Management announced on March 31, 2025, the planned retirement of longtime portfolio manager Randy Welch at year-end, with comanager Scott Smith assuming leadership of the LifeTime target-date series, including LTFIX, alongside James Fennessey, Chad Severin, and May Tong; this transition maintains continuity in the fund's structured strategy. Principal Financial Group continues to enhance its retirement offerings, completing integration of the 2019 Wells Fargo Institutional Retirement and Trust acquisition by mid-2021, boosting participant accounts to over 10 million and assets to more than $537 billion, while launching in late 2024 a new target-date fund suite incorporating Advantage Retirement Solutions' Lifetime Income Builder annuity for guaranteed income starting at age 47, though this applies to newer CIT vintages rather than the existing LTFIX mutual fund structure. The fund maintains an expense ratio of 0.63% and annual dividend distributions, with 2024 payouts including $0.2574 income, $0.0339 short-term capital gain, and $0.5210 long-term capital gain per share.