DC plan lineup changes more common this year
Defined contribution plans have been more active with investment lineup changes so far in 2019 than in previous years.
Manager hires and terminations are up through the first nine months of 2019, with 199 new funds added by plan sponsors and 172 removed from their investment lineups. Both figures are up from their past five-year averages, according to data from Pensions & Investments' Research Center.
Manager hires, which are more commonly announced than terminations, have already surpassed 2018's full-year numbers. Terminations, at 172, are well ahead of their five-year average.
Equity was the most active asset class, which should be expected given that the asset class offers the most diverse set of managers and strategies relative to the other asset classes.