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hippy-
It's ok to have automation. In fact it might even be good because it takes human emotions out of it.
But pre determined dates of selling like most target funds have just don't perform as well as they could hopefully the industry addresses this issue. Most employers use them as they are simple and cheap. And such good enough for most employees. -
Given you're looking at a horizon of say 20+ years, there's little difference between choosing a fund that automatically sells equity / buys bonds at a predetermined date (in 20 year's time), and just doing it yourself.
wildwest
NotThamesWater
To outperform a low index tracker is unlikely by an active fund. That's a given.
But these target year funds unfortnely have pre determined dates where they move from high risk to low, mostly by selling stocks to buy bonds or hold cash.
This is where the flaw lays they will sell even if the markets is in crash mode. Studies have shown investors have lost 100millions of pounds through the poor timings of these funds.
Using very simplicity model you could make vast difference to what is most likely your largest savings pot.