Contact Information: Contact: Jane Kenney jkenney@iiresearchgroup.com (212) 224-3122
Institutional Investor Announces Top 300 U.S. Money Managers
II 300, the 300 Biggest U.S. Money Managers, Saw Assets Plunge 23 Percent Last Year, as Investors Scrambled for the Exits
| Source: Institutional Investor
NEW YORK, NY--(Marketwire - July 14, 2009) - Total assets in the II
300, Institutional Investor's
annual ranking of the 300 largest money managers in the U.S., tumbled 23.4
percent last year, to $26.7 trillion. The hardest hit asset classes were
the riskiest -- equities, which fell 41.3 percent, and alternative
investments, which fell 26.1 percent. Bonds, normally the darling of
investors when stocks are in a tailspin, also fell, but only by 9.3
percent.
The only asset class that actually grew last year was cash equivalents,
which inched up 3.9 percent, to $5.47 trillion.
The industry's misery speaks to recent trends that are sapping firms of
revenue as wary investors plow money into investments that carry the lowest
risk -- and for which money managers charge the lowest fees. One firm that
has benefited from the shift in overall composition of assets is Barclays
Global Investors (BGI), which finishes first in the II 300 for a fifth
straight year, with $1.53 trillion in assets as of December 31.
State Street Global Advisors maintains its second-place position, with
$1.44 trillion. BlackRock, the New York-based institutional quant shop,
jumps to No. 3 from No. 5, even though its assets remained nearly flat, at
$1.31 trillion. In June, BlackRock announced its $13.5 billion acquisition
of BGI, which it plans to complete in the fourth quarter of this year.
The entire II 300 ranking of the
300 biggest U.S. money managers can be found on our web site,
www.iimagazine.com.
For more information about these rankings, please contact Jane Kenney at
jkenney@iiresearchgroup.com or (212) 224-3122.