Daiwa International Capital Management Corp. was omitted from the June 27 table ranking overseas money managers by their combined U.S. international/global tax-exempt assets as of March 31. Daiwa ranks 76th, with $506 million under management.
Also in the June 27 directory of international/global managers, The TCW Group reported $4.791 billion in global assets that Cursitor Eaton actually manages. TCW actually manages $229 million in global assets, dropping it to 48 from three in the ranking of firms with global assets under management. The new total on the global table should be $62.184 billion.
With the exclusion of Curistor Eaton's assets, TCW's total tax-exempt institutional international/global assets dropped to $1.609 billion, ranking it 38th, not 12th.
A.G. Bisset & Co. was omitted from the June 27 International/global directory. The firm managed $206 million of U.S. institutional, tax-exempt, discretionary assets in currency overlay as of March 31, with none of the assets managed internally. The new total for total currency overlay is $35.601 billion.
A spokesman for IBM Corp. said the IBM internal pension staff will not be cut to 10 persons or fewer as part of a reorganization under way at the company, as was reported in a story in the June 27 issue. He said the pension staff has been reduced to the "low 20s" from the original 60 members, and no further staff cuts are anticipated.
Ralph Layman's affiliation was stated incorrectly in the June 27 issue. He is executive vice president-international equities of General Electric Investment Corp., Stamford, Conn. The $26 billion GE Pension Trust has $665 million of its assets in emerging markets, or approximately 3% of its total assets, invested across 20 emerging markets, said Mr. Layman.
A July 11 article on small-capitalization stocks misquoted the second-quarter price declines in two Frank Russell stock indexes. The Russell 1000 index declined 0.89% while the Russell 2000 declined 4.22%.
International Advisory Group Inc. is in Nashville, Tenn. The company's location was incorrect in the July 11 issue.
