There's a lot going on in the defined contribution market, but it's reminiscent of a duck gliding serenely across a lake: On top things are tranquil, but beneath the surface of the water the duck is paddling frantically.
According to a new study from Hearts & Wallets, the DC market is both strong and growing, but there's "considerable turmoil lurking just beneath" the surface.
Net sales were positive in the first half of 2015 for 70 percent of surveyed asset managers, but considering how bad the entire year of 2014 was—when only 54 percent of managers had positive net flows—it's perhaps not surprising that defined contribution investment-only (DCIO) sales haven't yet regained ground lost before 2013.
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