The $7 trillion defined contribution market could be compared to an aircraft carrier—the plodding behemoth of the ocean that doesn't change direction quickly, but moves a lot of water when it does.
“The DC market is a slow-moving market,” says Greg Porteous, head of defined contribution intermediary strategy at State Street Global Advisors. “But when it does move, it moves in a big way.”
Target-date funds serve as perhaps the best example of Porteous’ assessment. The TDF market held $880 billion in assets at the end of 2016, a record high according to Morningstar.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
