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Target-date funds hit $3.5T in record surge
Mutual funds narrowly maintained their lead over collective investment trusts, but CITs are growing faster, suggesting a potential shift in leadership this year.
2022 was rough year for near-retirees in target-date funds
While stock and bond allocations hurt the performance of TDFs last year, fees declined and assets flowed to collective investment trusts, Morningstar found.
CITs claim larger share of target-date market
The growth in the use of collective investment trusts, which trend to charge lower fees, reflects the pressure to cut costs.
Target-date fund sales back up after a dip in 2020
The products had net inflows of $23.9 billion, a significant increase from the $6.7 billion in outflows seen in 2020, according to a report from Morningstar.
CITs continue taking over in 401(k)s, but the change isn’t always easy
CITs are on track to surpass mutual funds in target-date assets. Participants in 401(k)s that use CITs often stand to save a few basis points or more.
Nationwide, Capital Group create target-date with annuity
The product, which will be offered in defined-contribution plans, is engineered to deliver 6% income at retirement.
House bill seeks to open 403(b) plans to CITs
CITs, which are bank products, have been gaining market share in 401(k)s for years, but they are not expressly permitted in 403(b) plans.
Investment firms team with AFL-CIO to offer DC funds
Wilmington Trust, BNY Mellon and PGIM Fixed Income all play a role in the target-date CITs the union is rolling out for its members' defined-contribution plans.
Target-date fund 2020 sales in red as CITs rose, older workers fled: Report
Overall, the retirement savings products bled $6.7 billion, marking the first such instance of negative net sales since Morningstar began tracking them in 1994, the ratings and research firm reported this week.
Allstate sued again over target-dates, managed accounts in 401(k)
The company was already targeted in another class-action case over the target-date series and managed account options in its plan
CITs are sweeping through the retail 401(k) market
Collective investment trusts are all about pooling assets, which is at the heart of the value of DC plans
