Pensions & Investments' examination of the 100 largest corporate defined contribution plans found no surprises among the most-used money managers.
The Vanguard Group Inc. was listed as manager for nearly 20% of the combined assets, followed by BlackRock Inc. with 16.5%. There was a steep drop-off to third, held by State Street Global Advisors with 11.1%, followed by Fidelity Investments at 9.3% and Northern Trust Asset Management, 8.1%.
In fixed income, the largest managers were Pacific Investment Management Co. with $14.95 billion; Northern Trust, $8.77 billion; BlackRock, $8.29 billion; and Vanguard, $7.6 billion.
The largest equity managers were: Vanguard with $71.63 billion assets under management; BlackRock, $53.38 billion; SSgA, $49.51 billion; and Fidelity Investments, $37.66 billion.
Collective investment trusts were the most popular investment vehicle, with $305.1 billion in assets, followed by mutual funds with $221.5 billion and separate accounts, $66.3 billion.