US. Investment trusts gobble assets; retirement plans retreat from active funds
US retirement plans pumped billions of dollars into investment trusts last year, helping asset managers offset some of the heavy cash outflows from their pricier actively managed funds.
Assets in collective investment trusts, or CITs, run by T. Rowe Price Group Inc soared 54 percent last year to $88.9 billion. And assets in 16 CITs managed by Fidelity Investments rose 31 percent to $85.6 billion, according to a Reuters analysis of US Department of Labor reports.
Read More: Reuters
