ABN AMRO Asset Management plans to launch its first series of lifecycle funds with a twist. The four Target Horizon Funds for 2011, 2013, 2016 and 2021 will be available in early May and will offer investors a "protected value," the highest month-end net asset value, at each target date. The firm will use investments in fixed-income to achieve that value. ABN AMRO will pay into the funds in case of a loss of assets in order to guarantee that value. Jeff Tjornehoj, research analyst at Lipper, said the idea is reminiscent of principal protection funds that were first offered a few years ago. While the idea of receiving a guaranteed value may appeal to investors, the funds could turn out to be too conservative for some, Tjornehoj said, referring to the fixed-income component. Greg Carlson, analyst at Morningstar, noted investors could get slammed with high fees depending on the underlying funds. The firm did not detail expenses in a filing at the Securities and Exchange Commission. The fund minimum is $2,500. Michael Castino, director of marketing, was traveling and was unavailable for comment.