Investment Advisers Inc.
3700 First Bank Place, P.O. Box 357, Minneapolis, Minn. 55440; phone: (612) 376-2600; fax: (612) 376-8383
(U.S. $ millions)
Total assets managed14,815
U.S. institutional tax-exempt assets10,196
Total international/global1,901
International1,705
*Active equity accounts1,299
*Active bond accounts257
*Balanced49
*Emerging market equity100
Global196
*Active bond accounts177
*Balanced19
Investment Advisers Inc. had $1.705 billion in international accounts and $196 million in global accounts as of March 31.
The firm's asset mix for international accounts was 82% equity, 15% bonds and 3% balanced as of March 31; equity assets were committed most heavily to Japan, United Kingdom, France, Spain and Belgium.
As of the same date, its global account asset mix was 90% bonds and 10% balanced; equity assets were committed most heavily to the United States, Japan, United Kingdom, France and Belgium.
The firm is a qualitative, bottom-up, value manager. Top-down country analysis is also used to establish guidelines for country allocation and risk control.
Analysts or portfolio managers are stationed in Minneapolis and London.
The firm, a subsidiary of Lloyds TSB Group PLC, has been registered with the SEC since 1965.
Noel Rahn is chief investment officer; I.P. "Kip" Knelman is client contact.
Janus Capital Corp.
100 Fillmore St., Suite 400, Denver, Colo. 80206; phone: (800) 525-1068; fax: (303) 394-7697
(U.S. $ millions)
Total assets managed35,334
U.S. institutional tax-exempt assets6,317
Total international/global720
International24
*Active equity accounts24
Global696
*Active equity accounts696
Janus Capital Corp. had $27 million in international accounts and $696 million in global accounts as of March 31.
The firm's asset mix for international accounts was 97% equity 3% cash as of March 31; equity assets were committed most heavily to Sweden, Japan, Germany, United Kingdom and Switzerland.
As of the same date, its global account asset mix was 77% equity, 6% cash and 17% other; equity assets were committed most heavily to the United States, Japan, Germany, Sweden and Switzerland.
The firm emphasizes stock selection, relying on bottom-up fundamental research.
Analysts or portfolio managers are stationed in Denver and London.
The firm, a subsidiary of Kansas City Southern Industries, has been registered with the SEC since 1969.
James P. Craig is chief investment officer; Mark B. Whiston is client contact.
Lazard Freres Asset
Management
30 Rockefeller Plaza, New York, N.Y. 10020; phone: (212) 632-6000; fax: (212) 632-6060
(U.S. $ millions)
Total assets managed11,164
U.S. institutional tax-exempt assets5,032
Total international/global5,032
International3,218
*Active equity accounts3,002
*Emerging market equity216
Global1,813
*Active equity accounts1,505
*Active bond accounts227
*Balanced52
*Emerging market debt29
Lazard Freres Asset Management had $3.218 billion in international accounts and $1.813 billion in global accounts as of March 31.
The firm's asset mix for international accounts was 96% equity and 4% cash as of March 31; equity assets were committed most heavily to Japan, United Kingdom, France, Germany and Switzerland.
As of the same date, its global account asset mix was 80% equity, 17% bonds and 3% cash; equity assets were committed most heavily to the United States, Japan, United Kingdom, France and Germany.
The firm uses a bottom-up value approach to equity selection. Its fixed-income approach is also value-oriented, basing issue selection on historical yield spread.
Analysts or portfolio managers are stationed in New York.
The firm, a subsidiary of Lazard Freres & Co. L.L.C., has been registered with the SEC since 1970.
Herbert W. Gullquist is chief investment officer; Anthony Dote is client contact.
Lexington Global Asset
Managers
Park 80 West, Plaza II, Saddle Brook, N.J. 07663; phone: (201) 845-7300; fax: (201) 845-5121
(U.S. $ millions)
Total assets managed2,669
U.S. institutional tax-exempt assets769
Total international/global603
International325
*Active equity accounts294
*Emerging market equity14
*Other16
Global278
*Active equity accounts265
*Active bond accounts4
*Other9
Lexington Global Asset Managers had $325 million in international accounts and $278 million in global accounts as of March 31.
The firm's asset mix for international accounts was 95% equity and 5% cash as of March 31; equity assets were committed most heavily to Japan, France, Germany, Netherlands and United Kingdom.
As of the same date, its global account asset mix was 95% equity, 2% bonds and 3% cash; equity assets were committed most heavily to Japan, United States, France, Germany and Netherlands.
The firm's investment approach is uses a top-down country allocation process, based primarily on liquidity cycle analysis, and a disciplined value oriented bottom-up stock selection process.
Analysts or portfolio managers are stationed in Saddle Brook.
The firm has been registered with the SEC since 1971.
Robert DeMichele is chief investment officer; David S. Zecchi is client contact.
LGT Asset Management
50 California St., 27th Floor, San Francisco, Calif. 94111; phone: (415) 392-6181; fax: (415) 788-8945
(U.S. $ millions)
Total assets managed25,931
U.S. institutional tax-exempt assets2,077
Total international/global2,004
International1,853
*Active equity accounts1,263
*Emerging market equity527
*Emerging market debt63
Global151
*Active equity accounts110
*Active bond accounts23
*Balanced18
LGT Asset Management had $1.853 billion in international accounts and $151 million in global accounts as of March 31.
The firm's asset mix for international accounts was 97% equity and 3% bonds as of March 31; equity assets were committed most heavily to Japan, Hong Kong, Thailand, Malaysia and United Kingdom.
As of the same date, its global account asset mix was 79% equity and 21% bonds; equity assets were committed most heavily to United States, Japan, United Kingdom, Hong Kong and Switzerland.
The firm uses top-down and bottom-up methods to find macro- and microeconomic changes not reflected in the price of securities.
Analysts or portfolio managers are stationed in San Francisco, London, Tokyo, Hong Kong, Sydney, Singapore, Frankfurt and Toronto.
The firm, a subsidiary of Liechtenstein Global Trust, has been registered with the SEC since 1974.
Christian Wignall is chief investment officer; Earle A. Malm is client contact.
Marathon-London
115 Shaftesbury Ave., London, England WC2H 8AD phone (44-171) 497-2211; fax: (44-171) 497-2399
(U.S. $ millions)
Total assets managed4,879
U.S. institutional tax-exempt assets4,139
Total international/global4,139
International3,197
*Active equity accounts3,197
Global942
*Active equity accounts942
Marathon-London had $3.197 billion in international accounts and $942 million in global accounts as of March 31.
The firm's asset mix for international accounts was 100% equity as of March 31; equity assets were committed most heavily to Japan, United Kingdom, Sweden, France and Australia.
As of the same date, its global account asset mix was 100% equity; equity assets were committed most heavily to Japan, United States, United Kingdom, Japan, France and Australia.
The firm is a long-term manager relying on qualitative, non-consensus disciplines. Selections are made from value and growth universes based on analysis of capital base and competition.
The firm runs $142 million of U.S. institutional, tax-exempt assets in forward foreign exchange contracts for currency hedging; all of the underlying assets is managed internally.
Analysts or portfolio managers are stationed in London.
The firm has been registered with the SEC since 1990.
Jeremy J. Hosking is chief investment officer; Helen Blanchard is client contact.
Marvin & Palmer Associates
1201 N. Market St., Suite 2300, Wilmington, Del. 19801; phone: (302) 573-3570; fax: (302) 573-2545
(U.S. $ millions)
Total assets managed3,255
U.S. institutional tax-exempt assets2,420
Total international/global2,152
International1,539
*Active equity accounts1,322
*Emerging market equity217
Global613
*Active equity accounts542
*Emerging market equity71
Marvin & Palmer Associates Inc. had $1.539 billion in international accounts and $613 million in global accounts as of March 31.
