May 28, 2007, 12:01 AM ET
| Top 25 managers of high-yield bonds | |
| U.S. institutional, tax-exempt assets managed internally, in millions, as of Dec. 31, 2006. | |
| Manager | Assets |
| Legg Mason | $11,982 |
| Fidelity Investments | $9,247 |
| Trusco Capital | $9,039 |
| Oaktree Capital | $8,564 |
| New York Life Inv. Mgmt. | $7,526 |
| Principal Global Investors | $7,255 |
| Loomis, Sayles | $6,824 |
| Shenkman Capital | $6,293 |
| Lehman Brothers Holdings | $3,441 |
| PIMCO | $3,349 |
| Highland Capital (Texas) | $3,250 |
| TIAA-CREF | $3,187 |
| AIG Global Investment | $2,874 |
| T. Rowe Price | $2,266 |
| Atlantic Asset Mgmt. | $1,958 |
| Stone Harbor Investment | $1,874 |
| Northern Trust Global | $1,838 |
| TCW Group | $1,823 |
| Payden & Rygel | $1,688 |
| DDJ Capital | $1,554 |
| Nomura Corporate Research | $1,390 |
| MassMutual Financial | $1,319 |
| Capital Guardian | $1,270 |
| JPMorgan Asset Mgmt. | $1,214 |
| 40/86 Advisors | $1,076 |
| Total | $102,101 |
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