The target date fund market is consolidating sharply, with the total number of distinct TDF offerings falling to just 43 by the end of 2024, down from 167 four years earlier, according to the latest PLANADVISER DCIO Survey. 

Industry consolidation explains part of the drop, as many providers, rather than maintaining several versions of a target date suite, have simply killed off the variants that never gathered meaningful assets, keeping one refined offering instead. 

The result is a market with fewer distinct TDF choices, but arguably more thoughtfully built ones surviving the shakeout.

Finsum: The category is consolidating around a smaller set of providers willing to compete seriously in an increasingly passive dominated space.