Pareto Partners
505 Park Ave., 12th floor, New York, N.Y. 10022; phone: (212) 527-1800; fax: (212) 527-1818
(U.S. $ millions)
Total discretionary assets10,375
Non-U.S. pension assets1,361
U.S. discretionary tax-exempt assets managed:
Total international/global196
International196
*Active equity accounts164
*Active bond accounts32
Minimum separate account50
Pareto Partners had $196 million in international accounts as of March
31.
The firm's asset mix for international accounts was 84% equity, 16% bonds as of March 31; equity assets were committed most heavily to the United
Kingdom, Japan, the Netherlands, Switzerland and Australia.
The firm is a risk controlling quantitative manager. Currency risk modeling is used. The firm also runs an aggressive global bond strategy through a joint venture with Hughes Aircraft.
The firm runs $9.014 billion of U.S. institutional, discretionary tax-exempt assets in currency risk modeling; $196 million of the underlying assets is managed internally.
Analysts or portfolio managers are stationed in London.
The firm has been registered with the SEC since 1991.
Christine V. Downton is chief investment officer; Lynne S. Minard is client contact.
Paribas Asset Management
787 Seventh Ave., New York, N.Y. 10019; phone: (212) 841-3200; fax: (212) 841-3557
(U.S. $ millions)
Total discretionary assets22,975
Non-U.S. pension assets3,055
U.S. discretionary tax-exempt assets managed:
Total international/global910
International650
*Active equity accounts650
Global260
*Active bond accounts260
Minimum separate account15
Paribas Asset Management had $650 million in international accounts and $260 million in global accounts as of March 31.
The firm's international equity assets were committed most heavily to the United Kingdom, Germany, the Netherlands, France and Italy.
As of the same date, its global account asset mix was 85% bonds, 15% cash.
The firm's fixed-income philosophy emphasizes diversification, fundamental research, market analysis and computer-aided portfolio construction, using both top-down and bottom-up analysis.
The firm's European equity approach is growth at a price, based on bottom-up analysis. Sector weightings typically deviate fairly markedly from those of the index.
Analysts or portfolio managers are stationed in London, Milan, Brussels, Paris, Singapore, Tokyo and Hong Kong.
The firm, a subsidiary of Compagnie Financiere de Paribas, has been registered with the SEC since 1984.
Daniel Roy and Catherine Guinefort are chief investment officers; Drianne Benner is client contact.
Payden & Rygel
333 S. Grand Ave., 32nd floor, Los Angeles, Calif. 90071; phone: (213) 625-1900; fax: (213) 628-8488
(U.S. $ millions)
Total discretionary assets16,450
Non-U.S. pension assets1,200
U.S. discretionary tax-exempt assets managed:
Total international/global2,000
International200
*Active bond accounts200
Global1,800
*Active bond accounts1,800
Minimum separate account25
Payden & Rygel had $200 million in international accounts and $1.8 billion in global accounts as of March 31.
The firm's asset mix for international accounts was 100% bonds.
As of the same date, its global account asset mix was 100% bonds.
The firm specializes in active management of fixed-income assets. The strategy begins on a macro level, with the selection of the global bond market with an emphasis on maturity and total return opportunities. The firm then actively manages currency positions by various hedging techniques, options and futures. Currency exposure is managed with a level of volatility consistent with the client's objectives.
The firm runs $120 million of U.S. institutional, discretionary tax-exempt assets in currency overlay strategies; none of the underlying assets is managed internally.
Analysts or portfolio managers are stationed in Los Angeles.
The firm has been registered with the SEC since 1983.
John Paul Isaacson is chief investment officer; Lynda L. Faber is client contact.
Rowe Price-Fleming
International
100 E. Pratt St., Baltimore, Md. 21202; phone: (410) 547-2141; fax: (410) 547-1270
(U.S. $ millions)
Total discretionary assets18,625
U.S. discretionary tax-exempt assets managed:
Total international/global7,557
International7,557
*Active equity accounts6,807
*Active bond accounts23
*Indexed bond accounts727
Minimum separate account50
Rowe Price-Fleming International had $7.557 billion in international accounts as of March 31.
The firm's asset mix for international accounts was 91% equity, 9% bonds as of March 31; equity assets were committed most heavily to Japan, the United Kingdom, the Netherlands, France and Germany.
The firm uses a top-down/bottom-up approach. Stock selection decisions emphasize growth at a reasonable price.
Analysts or portfolio managers are stationed in London, Hong Kong, Tokyo, Seoul, Kuala Lumpur, Jakarta, Bombay, Bangkok, Shanghai, Sao Paulo, Johannesburg, Manila, Singapore and Taipei.
The firm is a joint venture of T. Rowe Price and Fleming Group.
Martin G. Wade is chief investment officer; George A. Murnaghan is client contact.
Principal Mutual Life
Insurance Co.
711 High, Des Moines, Iowa 50392; phone: (515) 247-5711; fax: (515) 248-3194
(U.S. $ millions)
Total discretionary assets3,299
U.S. discretionary tax-exempt assets managed:
Total international/global3,299
International3,299
*Active equity accounts949
*Active bond accounts2,350
Principal Mutual Life Insurance Co. had $3.299 billion in international accounts as of March 31.
The firm's asset mix for international accounts was 29% equity, 71% bonds as of March 31; equity assets were committed most heavily to the Netherlands, the United Kingdom, Switzerland, Sweden and Hong Kong.
The firm is a value investor. Its approach is to analyze worldwide economic trends and look at individual country markets, economies and social and political factors. Stocks are selected based on fundamental analysis such as growth trends, financial ratios, return on equity and other statistics.
Analysts or portfolio managers are stationed in Des Moines.
The firm, a subsidiary of The Principal Financial Group.
Ronald E. Keller is chief investment officer; Dan J. Fitzgerrell is client contact.
