Collective Investment Trusts draw trillions in US retirement savings

8 articles · Updated · Bloomberg · May 3

The lightly disclosed vehicles underpin later-life plans for millions of Americans, but no one knows exactly how much they hold or how assets are allocated.
No single US financial regulator oversees them, even as they have grown into a multi-trillion-dollar business competing with mutual funds and exchange-traded funds.
Their rapid expansion could also open a backdoor for more private assets to enter Americans' retirement portfolios, raising transparency and oversight concerns.

Are opaque investment trusts secretly funneling your retirement savings into risky private assets?

Will new 'safe harbor' rules protect retirement plans or just the firms selling risky investments?