Institutional Investor Releases Ranking of the Top 300 Money Management Firms
Assets surge to $31 trillion at biggest U.S. money managers.
New York, NY (PRWEB) July 17, 2007 -- Assets under management at America's 300 biggest money managers, the II 300, grew 16.9 percent last year, to $31.1 trillion, according to the latest annual survey by Institutional Investor magazine.
Last year's growth rate was nearly double that of 2005 and marks an increase of two-thirds from five years ago, when the II 300 managed $18.6 trillion. The smallest firm on the list, New York hedge fund manager Eton Park, reported assets of $6.3 billion, an entry hurdle that is $1.1 billion higher than in 2005.
For a third year in a row, San Francisco-based Barclays Global Investors tops the II 300, with assets of $1.81 trillion. "Our business was strong in 2006, with net new asset growth of approximately $68 billion," CEO Blake Grossman tells II.
Boston's State Street Global Advisors returns in second place, with $1.74 trillion under management. State Street gained more money - $307.2 billion - than any other firm in the ranking except New York-based BlackRock, which zooms from 16th place last year to fifth place in this year's II 300, thanks in part to its acquisition of Merrill Lynch Investment Managers last September.
The top five firms in this year's II 300, their 2005 rank, and their assets under management as of December 31, 2006, are:
2006 2005
1 1 Barclays Global Investors $1.81 trillion
2 2 State Street Global Advisors $1.74 trillion
3 4 Capital Group Cos. $1.40 trillion
4 3 Fidelity Investments $1.38 trillion
5 16 BlackRock $1.12 trillion
For the complete list of winners, methodology and related article, please visit www.iimagazinerankings.com/ii300.
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