CITs Outpace Mutual Funds in 2024

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There is no question of collective investment trusts’ popularity among retirement plan fiduciaries and investment managers. CITs continued their dominance in 2024, especially for several massive index strategies that appeared in the top 10 lists for both largest CITs by assets and net new flows. Vanguard’s Institutional Total Stock Market CIT topped the list in size, followed closely by offerings from Northern Trust, State Street and BlackRock. The Spartan 500 Index Pool CIT was the fifth largest in terms of absolute size, but led in net flows. 

Meanwhile, CITs also continued their asset accumulation in target-date funds. Although mutual funds still attract steady inflows, the data highlight that assets in CIT TDFs ended the year almost double that in mutual fund TDF strategies.

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Largest CITs by Assets

CIT Name Total Assets $M YE2024
Vanguard Instl Tot Int St Mkt Ix Tr 250,116.33
Northern Trust Asset Management NT S&P 500 Index Equity Strategy – CIT 226,798.84
State St S&P 500 Indx 222,518.71
BlackRock Equity Indx 213,428.35
Spartan 500 Index Pool 124,441.43
Fidelity Growth Company CP CIT 81,948.63
Fidelity Contrafund CP CIT 56,596.86
BlackRock EAFE Equity Indx 55,708.90
State St World Dev ex US Indx 54,886.22
State St US Bond Indx 49,116.96

Largest CITs by Net Flows YE 2024

CIT Name Absolute Net New Flows $M 2024
Spartan 500 Index Pool 64,208.61
Fidelity Short Intmd Enhcd Indx CP CIT 20,002.86
Vanguard Instl Tot Int St Mkt Ix Tr 19,017.67
NT Col Aggregate Bond Index-Lending 12,586.75
State St Global All Cap Eq exUS IdxSL 10,311.39
NT Col S&P500 Index-DC-Lending 9,790.58
BlackRock Equity Indx 7,961.68
AQR Global Risk Premium Low Volatility 6,617.77
Fidelity Growth Company CP CIT 6,511.19
Fidelity Contrafund CP CIT 5,154.45

MF TDFs vs. CIT TDFs: All Managers

  MF AUM
  CIT AUM
  MF NNF
  CIT NNF

Source: ISS Market Intelligence, MarketPulse Powered by Simfund