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Question
What is a "glide path" in the context of a target-date fund?
1
The list of underlying index funds included in the target-date fund's portfolio.
2
The schedule of management fees that decreases as the investor approaches retirement.
3
The pre-specified plan by which the fund gradually shifts from growth assets to conservative assets as the target date approaches.
4
The projected returns the fund expects to achieve over the investor's holding period.
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