RESEARCH | June 12, 2019

2019
PLANADVISER DCIO Survey

Reported by PLANADVISER | Art by Valeria Petrone

Top 10 Providers

DCIO MANAGERS, BY ASSETS ($MM AS OF Q1 2019)
1	BlackRock, Inc.	$949,412
2	Vanguard	$773,039
3	Nuveen	$480,202
4	State Street Global Advisors	$367,976
5	T. Rowe Price	$352,884
6	Capital Group/American Funds	$320,153
7	J.P. Morgan Asset Management	$206,538
8	Principal Global Investors	$146,000
9	Wells Fargo Asset Management	$117,777
10	PIMCO	$112,211

TOP DCIO FUNDS, BY ASSETS ($MM AS OF Q1 2019)
1	BlackRock LifePath Target Date Fund	$227,057
2	Vanguard Institutional Index Strategy	$190,057
3	T. Rowe Price Retirement Date Funds	$139,997
4	J.P. Morgan SmartRetirement Funds (all series)	$116,749
5	State Street Global Advisors S&P 500 Index	$103,087
6	American Funds EuroPacific Growth Fund	$78,586
7	DoubleLine Total Return Bond Fund	$50,405
8	AllianceBernstein Target-date Strategies	$42,126
9	Principal LifeTime Hybrid Collective Investment Trust	$36,900
10	Dodge & Cox Stock Fund	$36,718

NUMBER OF DCIO FUNDS AVAILABLE ON RECORDKEEPING PLATFORMS
1	T. Rowe Price	425
2	Vanguard	339
3	Fidelity Investments	280
4	BlackRock, Inc.	>170
5	Dimensional Fund Advisors	150
6	PIMCO	139
7	BNY Mellon Investment Management	118
8	Charles Schwab Investment Management, Inc.	113
9	Nuveen	102
10	J.P. Morgan Asset Management	100

NUMBER OF TARGET-DATE AND TARGET-RISK FUND SERIES
1	Charles Schwab Investment Management, Inc.	12
2	BNY Mellon Investment Management	11
3	Franklin Templeton	9
4	Fidelity Investments	7
5	Vanguard	6
6	BlackRock, Inc.	4
6	Charles Schwab Investment Management, Inc.	4
6	Cohen & Steers	4
6	PGIM Investments	4
6	T. Rowe Price	4

LARGEST INCREASE IN DCIO ASSETS (2017 VS. 2018)
1	Cohen & Steers	16.6%
2	Morgan Stanley Investment Management	14.5%^*
3^#	Fidelity Investments	10.1%
4^#	Vanguard	9.5%
5^#	MassMutual Funds	4.2%
6^#	Putnam Investments	4.1%
7^#	Federated Investors	3.9%
8^#	PGIM Investments	2.7%
9^#	T. Rowe Price	-0.3%
10^#	Loomis, Sayles & Co., L.P.	-1.5%

LARGEST INCREASE IN DCIO ASSETS (12/31/2018 VS Q1 2019)
1	MassMutual Funds	20.5%
2	Fidelity Investments	19.1%
3	State Street Global Advisors	15.5%
4	Wellington Management Company, LLP	14.6%
5	Loomis, Sayles & Co., L.P.	14.2%
6	T. Rowe Price	13.5%
7	Ivy Investments	13.3%
8	Morgan Stanley Investment Management	12.9%^*
9^#	Artisan Partners	12.8%
10^#	MFS Investment Management	12.5%

Footnote: ^*Morgan Stanley's data was not included in the print publication of PLANSPONSOR magazine.^#Data has been updated/revised since initial publication in PLANSPONSOR magazine.