Subject: File No. S7-12-10
From: Robert Sole

August 3, 2010

I like the concept of target date funds but I don't consider them misleading to suggest they promise an INCOME of any sort at retirement age. I understand them to be designed to provide a balanced portfolio at retirement age and then it's up to the recipient to purchase their own annuity. That said, better labelling and graphics showing the evolution of the changing mix of investments over time, would be extremely helpful.