US defined contribution giant Vanguard is looking to launch nine institutional target-date funds in the UK in 2017, in a bid to replicate its success in the space across the Atlantic.

Although target-date funds have enjoyed substantial growth in the US - surging from around $200 billion in total assets in 2006 to $1.3 trillion today - the UK market remains comparatively nascent with total assets in these funds of around $8 billion, according to Vanguard.