- Introduction & Methodology
- Industry Trends
- Respondent Profile
- Defined Benefit Plans
- Portfolio Characteristics
- LDI Usage
- League Tables
- Vendor Ratings
- Number of Responses and Scores
- Average Scores by Categories
- Vendor Details
- BlackRock
- Dodge & Cox
- Fidelity Investments
- Goldman Sachs Asset Management
- Jennison Associates
- Legal & General Investment Management America
- NISA Investment Advisors
- PIMCO
- Prudential Investments
- Wellington
- Western Asset Management
Past Surveys
Industry Trends
Asset Allocation
| All | <$5B | >$5B | ||
| Domestic equity | 17% | 17% | 17% | |
| International equity | 13% | 12% | 13% | |
| Alternatives | 11% | 9% | 14% | |
| Fixed Income | 59% | 61% | 55% | |
| Cash | 1% | 1% | 1% |
Use of Derivatives
| All | <$5B | >$5B | ||
| Currently use derivatives | 66% | 51% | 82% | |
| Don’t use currently, but plan to | 11% | 14% | 8% | |
| Don’t use currently, and no plans to use derivatives | 23% | 35% | 10% |
Average Duration, In Years
| All | <$5B | >$5B | |
| Average duration of liabilities | 12.4 | 12.2 | 12.8 |
| Average duration of fixed income portfolio | 13.6 | 13.5 | 13.7 |