Trillions more in pension-fund assets will be up for grabs for fund managers in the years ahead, according to a new report from consultancy firm McKinsey, but there is set to be a sharp divide between those who benefit, with asset allocators and index-trackers standing to gain the most while active stockpickers lose out.

McKinsey's report, "Winning in the DC Market of 2015", published today, looks at the growth in the US of so-called "defined contribution" pensions, increasingly the global standard for retirement savings plans. The full report can be downloaded below.