Money manager DB assets fell over past five years

Money managers' defined benefit assets totaled $4.07 trillion as of Dec. 31 vs. $3.72 trillion a decade ago, based on Pensions & Investments' annual survey of the largest money managers. Their DB assets as a percentage of U.S. institutional tax-exempt internally managed assets fell to 27.7% from 40.9%, however.

In the past five years, DB assets under management dropped by 10.3%, while U.S. institutional tax-exempt internally managed assets increased by 10.5%.

Examining the 10 largest U.S. DB money managers, their DB assets rose by 15.8% since 2012 to $2.18 trillion, but internally managed U.S. tax-exempt institutional assets increased by 42.7%. The portion of DB AUM fell to 39.7% from 49%.