Increasing popularity of target-date funds boosts total DC assets 7% for year, exceeding $5.5 trillion.
Defined contribution assets under management jumped to a record $4.23 trillion in 2012, nearly 12% more than the previous record of $3.78 trillion in 2011, according to Pensions & Investments' latest survey of money managers running DC assets.
Although assets shifted toward more fixed-income, defined contribution assets are at an all-time high.
Defined contribution assets under management in 2010 reached $3.67 trillion, rising 12.6% from the previous year but falling just short of the $3.7 trillion peak reached in 2007, according to the latest Pensions & Investments annual survey of DC managers.
Defined contribution managers bounced back a bit from the morose markets of 2008, as assets under management rose 19.7% in 2009. However, the year-end 2009 AUM total was still 12% below that of what investors and managers consider the good-old days of 2007.