The 432 clients that responded to PLANSPONSOR’s eighth annual Transition Management Survey represent approximately 1,700 portfolio transitions and nearly $200 billion in assets transitioned from January 1 through December 31, 2009.
Why Conduct a Transition? Investment manager performance again remained the top reason for conducting transitions in 2009, cited by 45% of respondents to the survey. This, however, represented a small drop from 2008 (49%). Asset allocation shift was the second-most common reason for conducting a transition, as indicated by 41% of respondents, about the same as 2008. Rebalancing was up slightly in 2009—22% of respondents cited this as the determining factor for the transition, up from 18% in 2008.