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Strong equity markets buoyed DC equity allocations in 2014, while target date funds continue to grow.
Overall, fixed income allocations outweigh equities, but this can vary significantly by country: only 23% of UK assets are fixed income, compared to 51% in Italy and 72% in France.
With the exception of U.S. equity, fees appears to have stabilized and active non-Canadian fixed income increased driven by specialty mandates.  
Corporates are seeking to derisk and diversify while publics actively seeking returns to close persisting funding gaps.
Investors shifted towards passive U.S. equities this year, but the commitment to active in other categories remains strong.  
Asset allocation targets are expected to shift away from equities and towards fixed income and alternatives over the next three years.
Demand for global equity is expected to be strong next year along with U.S. equity and emerging markets.
While funding levels remain the key issue, risk management increased in importance across both corporate and public funds.  
New manager hiring is expected to remain robust in 2015.
DB plans dominate both corporate and public plans, but DC plans are anticipated to make inroads with corporate plans over the next 10 years.

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