Assets under management at corporate and public retirement plans managed by Northern Trust’s Defined Contribution Solutions unit have more than doubled in the past three years, the company said in a release.
Assets managed by Northern Trust for defined contribution (DC) plans rose to approximately $78 billion as of December 31, 2012, from $37 billion at the end of 2009. Northern Trust’s target-date funds, the Northern Trust Focus Funds, exceeded $4 billion in assets on January 31, 2013, with the addition of several large corporate DC plan clients.
The assets grew at an annualized rate of 136% from the end of 2009 through the end of January 2013. Northern Trust has approximately $214 billion in DC assets under custody.
The company also offers a Global Balanced Fund, which allocates across stocks, bonds and real assets. Other strategies include core options in index equity, fixed income and multi-manager funds, as well as customized asset allocation solutions.
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