Barclays Global Investors NA, which held on to sixth place in the DC manager rankings, saw its overall DC assets climb 15.3% to $150.5 billion.
BGI is one provider that saw significant assets pour into asset allocation funds in 2005, adding about $3 billion.
Tim Kohn, defined contribution specialist for San Francisco-based BGI, said the firm saw significant asset growth in its LifePath asset allocation funds in 2005. "LifePath has grown to $10 billion, tripling in the last three years. Many of our clients see this as a product of choice," he said.
In seventh place, up from ninth last year, was T. Rowe Price Retirement Plan Services, Baltimore, which had $91.6 billion, a 38.8% increase. Again, lifecycle funds were largely to thank for asset growth in 2005, said Steve Zients, senior vice president of retirement plan services at T. Rowe Price. "T. Rowe's retirement-date funds doubled this last year," he said, adding the funds now hold roughly $6 billion in assets.
Prudential Financial Inc., Newark, N.J., remained in eighth place with $86.9 billion, an increase of 17%; and ING U.S. Financial Services, Hartford, Conn., dropped two spots to ninth place with $79.7 billion in defined contribution assets, as its DC assets held relatively steady.
The only addition to the top 10 was Pacific Investment Management Co., Newport Beach, Calif., which moved up one notch to 10th place at year-end 2005. PIMCO's total defined contribution assets under management were $55.5 billion, a 7.7% increase from the year-earlier $51.5 billion. Diversified Investment Advisors Inc., Purchase, N.Y., dropped to 11th despite a 6% increase in assets to $55 billion.