Principal CEO Chuckles at Private Equity in 401(k)s
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Private equity funds are probably too complicated for the average investor’s retirement account, according to Principal Financial Group Inc., which provides the plans to 3.8 million people.
“When people start talking about ETFs and liquid alts and private equity and all of that stuff, I too chuckle a little bit,” Principal Chief Executive Officer Larry Zimpleman said on a conference call today in response to a question about including exchange-traded funds and other options in 401(k) plans. “It’s really hard to see how that is something that can be easily explained.”