AllianceBernstein Institutional Investment Management
1345 Avenue of the Americas, New York, NY 10105; phone: (212) 969-1000; www.alliancecapital.com
(U.S. $ millions)
Total worldwide assets 452,199
Worldwide institutional assets 242,584
Total U.S. institutional tax-exempt 148,220
Tax-exempt int'l/global 18,653
Internal tax-exempt int'l/global 18,653
Internal international 13,260
Active equity 8,928
Indexed equity 1,654
Enhanced indexed equity 292
Active bonds 196
Indexed bonds 571
Emerging markets equity, active 1,448
Other 171
International asset mix:
Equity 94%
Bonds 6%
Internal global 5,393
Active equity 3,161
Active bonds 2,019
Other 213
Global asset mix:
Equity 61%
Bonds 39%
Non-U.S. institutional tax-exempt 33,261
Internally managed non-U.S. 33,261
International equity: MSCI EAFE is the primary benchmark.
Global equity: MSCI World is the primary benchmark.
Analysts/portfolio managers: Stationed in New York; Chicago; Cleveland; Dallas; Minneapolis; San Francisco; Secaucus, N.J.; White Plains, N.Y.; Cape Town, South Africa; Hong Kong; Istanbul; Johannesburg; London; Madrid; Melbourne; Mumbai, India; Windhoek, Namibia; Sao Paulo; Singapore; Sydney; Taipei; Tokyo; Wellington, New Zealand; and Harare, Zimbabwe.
Parent company: AXA Financial Inc.
Lew Sanders is chief investment officer; Marc Mayer is client contact.
Artisan Partners LP
1000 N. Water St., Suite 1770, Milwaukee, WI 53202; phone: (414) 390-6100; fax: (414) 390-6139;
www.artisanfunds.com
(U.S. $ millions)
Total worldwide assets 18,159
Worldwide institutional assets 10,510
Total U.S. institutional tax-exempt 9,399
Tax-exempt int'l/global 4,961
Internal tax-exempt int'l/global 4,961
Internal international 4,961
Active equity 4,961
International asset mix:
Equity 96%
Cash 4%
Non-U.S. institutional tax-exempt 202
Internally managed non-U.S. 202
International equity: MSCI EAFE is the primary benchmark.
Analysts/portfolio managers: Stationed in Milwaukee, San Francisco and Atlanta.
Michael Steinrueck is client contact at (415) 283-1700.
Baillie Gifford Overseas Ltd.
1 Rutland Court, Edinburgh EH3 8EY Scotland; phone: (44-131) 222-4000; fax: (44-131) 222-4496; www.bailliegifford.com
(U.S. $ millions)
Total worldwide assets 31,300
Worldwide institutional assets 27,418
Total U.S. institutional tax-exempt 4,784
Tax-exempt int'l/global 4,603
Internal tax-exempt int'l/global 4,603
Internal international 4,603
Active equity 4,535
Emerging markets equity, active 68
International asset mix:
Equity 98%
Cash 2%
Non-U.S. institutional tax-exempt 19,807
Internally managed non-U.S. 19,807
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Germany, Switzerland and Hong Kong; underweighted in Japan, the U.K., France and the Netherlands.
Analysts/portfolio managers: Stationed in Edinburgh.
Parent company: Baillie Gifford & Co.
Richard Burns is chief investment officer; Jeff Kutler is client contact at (646) 827-3737.
Bank of Ireland Asset Management (U.S.) Ltd.
75 Holly Hill Lane, Greenwich, CT 06830; phone: (203) 869-0111; fax: (203) 869-0268; www.biam.ie
(U.S. $ millions)
Total worldwide assets 49,848
Worldwide institutional assets 44,129
Total U.S. institutional tax-exempt 23,486
Tax-exempt int'l/global 22,735
Internal tax-exempt int'l/global 22,735
Internal international 22,328
Active equity 22,328
International asset mix:
Equity 97%
Cash 3%
Internal global 407
Active equity 407
Global asset mix:
Equity 97%
Cash 3%
Non-U.S. institutional tax-exempt 1,054
Internally managed non-U.S. 1,054
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in the U.K., Switzerland, Netherlands and Hong Kong; underweighted in Japan, Germany and France.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.S., France, Switzerland, Netherlands and Hong Kong; underweighted in Japan, the U.K. and Germany.
Analysts/portfolio managers: Stationed in Dublin.
Parent company: Bank of Ireland.
Chris Reilly is chief investment officer; Stephen Holland is client contact.
Barclays Global Investors NA
45 Fremont St., San Francisco, CA 94105; phone: (415) 597-2200; fax: (415) 597-2140; www.barclaysglobal.com
(U.S. $ millions)
Total worldwide assets 790,000
Worldwide institutional assets 727,000
Total U.S. institutional tax-exempt 467,400
Tax-exempt int'l/global 51,900
Internal tax-exempt int'l/global 51,900
Internal international 43,600
Indexed equity 35,500
Enhanced indexed equity 5,900
Indexed bonds 300
Emerging markets equity, indexed 1,200
Enhanced indexed bonds 700
International asset mix:
Equity 98%
Bonds 2%
Internal global 8,300
Indexed equity 3,500
Enhanced indexed equity 1,600
Indexed bonds 3,100
Enhanced indexed bonds 100
Global asset mix:
Equity 62%
Bonds 38%
Overlay strategies:
Currency 2,100
Internally managed underlying assets 2,100
Non-U.S. institutional tax-exempt 259,600
Internally managed non-U.S. 259,600
Analysts/portfolio managers: Stationed in San Francisco, Toronto, London, Sydney and Tokyo.
Parent company: Barclays PLC.
Blake Grossman is chief investment officer; Matthew Scanlan is client contact.
Baring Asset Management
High Street Tower, 125 High St., Suite 2700, Boston, MA 02110; phone: (617) 946-5200; fax: (617) 946-5238;
www.baring-asset.com
(U.S. $ millions)
Total worldwide assets 35,467
Worldwide institutional assets 28,271
Total U.S. institutional tax-exempt 6,343
Tax-exempt int'l/global 5,773
Internal tax-exempt int'l/global 5,773
Internal international 5,039
Active equity 452
Enhanced indexed equity 3,244
Active bonds 1,163
Emerging markets equity, active 177
Emerging markets debt 3
International asset mix:
Equity 77%
Bonds 23%
Internal global 734
Active equity 170
Active bonds 564
Global asset mix:
Equity 23%
Bonds 77%
Non-U.S. institutional tax-exempt 21,721
Internally managed non-U.S. 21,721
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in the U.K., France, Netherlands and Hong Kong; underweighted in Japan, Germany and Switzerland.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.K., Germany, France, Switzerland, Netherlands and Hong Kong; underweighted in the U.S. and Japan.
Analysts/portfolio managers: Stationed in London, Boston, Hong Kong and Tokyo.
Parent company: ING Group.
Michael Hughes is chief investment officer; Barclay Douglas is client contact.
BNY Overlay Associates
1 Canada Square, London E14 5AL England; phone: (44-207) 964-6112; fax: (44-207) 964-6753; www.bankofny.com
(U.S. $ millions)
Total worldwide assets 5,255
Worldwide institutional assets 5,255
Total U.S. institutional tax-exempt 4,515
Tax-exempt int'l/global 4,515
Internal tax-exempt int'l/global 4,515
Internal international 4,515
Currency overlay 4,515
International asset mix:
Currency overlay 100%
Overlay strategies:
Currency 4,515
Analysts/portfolio managers: Stationed in London.
Parent company: The Bank of New York.
Kevin Bailey and Gary Vocat are client contacts.
Bradford & Marzec Inc.
333 S. Hope St., Suite 4050, Los Angeles, CA 90071; phone: (213) 687-9170; fax: (213) 687-9189
(U.S. $ millions)
Total worldwide assets 6,907
Worldwide institutional assets 6,857
Total U.S. institutional tax-exempt 6,795
Tax-exempt int'l/global 4,554
Internal tax-exempt int'l/global 4,554
Internal global 4,554
Active bonds 4,554
Global asset mix:
Bonds 98%
Cash 2%
Analysts/portfolio managers: Stationed in Los Angeles.
Edward Bradford is chief investment officer; David Hogan and Sonja Walker are client contacts.
Brandes Investment Partners LP
11988 El Camino Real, Suite 500, San Diego, CA 92130; phone: (858) 755-0239; fax: (858) 755-0916; www.brandes.com
(U.S. $ millions)
Total worldwide assets 67,851
Worldwide institutional assets 39,600
Total U.S. institutional tax-exempt 14,546
Tax-exempt int'l/global 14,320
Internal tax-exempt int'l/global 14,320
Internal international 11,397
Active equity 9,403
Emerging markets equity, active 1,994
International asset mix:
Equity 99%
Cash 1%
Internal global 2,923
Active equity 2,590
Emerging markets equity, active 333
Global asset mix:
Equity 99%
Cash 1%
Non-U.S. institutional tax-exempt 8,732
Internally managed non-U.S. 8,732
International equity: MSCI EAFE is the primary benchmark. The firm is underweighted in Japan, the U.K., Germany, France, Switzerland, Netherlands and Hong Kong.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.K.; underweighted in the U.S., Japan, Germany, France, Switzerland, Netherlands and Hong Kong.
Analysts/portfolio managers: Stationed in San Diego and Geneva.
Brent Woods is chief investment officer; Victor Therrien is client contact.
Bridgewater Associates Inc.
1 Glendinning Place, Westport, CT 06880; phone: (203) 226-3030; fax: (203) 291-7300; www.bwater.com
(U.S. $ millions)
Total worldwide assets 33,592
Worldwide institutional assets 33,592
Total U.S. institutional tax-exempt 16,702
Tax-exempt int'l/global 16,176
Internal tax-exempt int'l/global 16,176
Internal international 10,042
Indexed equity 69
Active bonds 1,604
Emerging markets debt 261
Currency overlay 8,108
International asset mix:
Equity 1%
Bonds 18%
Currency overlay 81%
Internal global 6,134
Active bonds 3,557
Indexed bonds 1,214
Pure alpha 1,363
Global asset mix:
Bonds 78%
Pure alpha 22%
Overlay strategies:
Currency 14,390
Pure alpha 108
Internally managed underlying assets 14,498
Non-U.S. institutional tax-exempt 11,982
Internally managed non-U.S. 11,982
Analysts/portfolio managers: Stationed in Westport.
Ray Dalio is chief investment officer; Bill Mahoney is client contact.
Capital Guardian Trust Co.
333 S. Hope St., Los Angeles, CA 90071; phone: (213) 486-9000; www.capgroup.com
(U.S. $ millions)
Total worldwide assets 122,561
Worldwide institutional assets 122,561
Total U.S. institutional tax-exempt 108,745
Tax-exempt int'l/global 72,746
Internal tax-exempt int'l/global 72,746
Internal international 66,198
Active equity 64,523
Active bonds 82
Emerging markets equity, active 1,468
Emerging markets debt 125
International asset mix:
Equity 99.7%
Bonds 0.3%
Internal global 6,548
Active equity 5,167
Active bonds 1,381
Global asset mix:
Equity 79%
Bonds 21%
Non-U.S. institutional tax-exempt 7,237
Internally managed non-U.S. 7,237
Analysts/portfolio managers: Stationed in Washington, Geneva, Hong Kong, Los Angeles, London, Montreal, New York, San Francisco, Singapore, Tokyo and Toronto.
Parent company: Capital Group Cos. Inc.
Kerry Dempsey is client contact at (212) 649-1513.
Credit Suisse Asset Management LLC
466 Lexington Ave., New York, NY 10017; phone: (212) 875-3500; fax: (212) 983-4169; www.csam.com
(U.S. $ millions)
Total worldwide assets 302,609
Worldwide institutional assets 123,826
Total U.S. institutional tax-exempt 19,274
Tax-exempt int'l/global 5,626
Internal tax-exempt int'l/global 5,626
Internal international 5,234
Active equity 4,991
Active bonds 101
Emerging markets equity, active 142
International asset mix:
Equity 98%
Bonds 2%
Internal global 392
Active equity 9
Active bonds 383
Global asset mix:
Equity 2%
Bonds 98%
Overlay strategies:
Derivatives 564
Currency 2,194
Non-U.S. institutional tax-exempt 85,682
Internally managed non-U.S. 85,682
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.S. and Hong Kong; underweighted in Japan and the U.K.
Analysts/portfolio managers: Stationed in New York; Zurich; London; Tokyo; Sydney; Frankfurt; Paris; Milan, Italy; Sao Paulo, Brazil; and Warsaw, Poland.
Parent company: Credit Suisse Group.
Laurence Smith is chief investment officer; George Jamgochian is client contact.
Delaware International Advisers Ltd.
80 Cheapside, 3rd Floor, London EC2V 6EE England; phone: (44-207) 477-7000; fax: (44-207) 523-0300
(U.S. $ millions)
Total worldwide assets 14,296
Worldwide institutional assets 12,328
Total U.S. institutional tax-exempt 11,735
Tax-exempt int'l/global 11,735
Internal tax-exempt int'l/global 11,735
Internal international 10,893
Active equity 9,451
Active bonds 1,216
Emerging markets equity, active 226
International asset mix:
Equity 89%
Bonds 11%
Internal global 842
Active equity 83
Active bonds 626
Balanced 133
Global asset mix:
Equity 10%
Bonds 74%
Other 16%
Non-U.S. institutional tax-exempt 593
Internally managed non-U.S. 593
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in the U.K., Netherlands and Hong Kong; underweighted in Japan, Germany and France.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.K., Germany, France, Netherlands and Hong Kong; underweighted in the U.S. and Japan.
Analysts/portfolio managers: Stationed in London.
Parent company: Lincoln National Corp.
David Tilles is chief investment officer; John C.E. Campbell is client contact at (215) 255-1096.
Deutsche Asset Management
1325 Avenue of the Americas, 27th Floor, New York, NY 10019; phone: (646) 557-1000; fax: (646) 557-1012;
www.deam-us.com
(U.S. $ millions)
Total worldwide assets 735,066
Worldwide institutional assets 520,460
Total U.S. institutional tax-exempt 112,155
Tax-exempt int'l/global 20,940
Internal tax-exempt int'l/global 20,940
Internal international 18,098
Active equity 3,796
Indexed equity 6,935
Enhanced indexed equity 513
Active bonds 31
Emerging markets equity, active 187
Emerging markets equity, indexed 5
Emerging markets debt 99
Currency overlay 6,532
International asset mix:
Equity 63%
Bonds 1%
Currency overlay 36%
Internal global 2,842
Active equity 1,348
Indexed equity 311
Active bonds 1,183
Global asset mix:
Equity 58%
Bonds 42%
Overlay strategies:
Currency 6,532
Internally managed underlying assets 6,532
Non-U.S. institutional tax-exempt 149,226
Internally managed non-U.S. 149,226
Analysts/portfolio managers: Stationed in New York; Boston; Chicago; Philadelphia; London; Frankfurt; Seoul; Sydney; Tokyo; Milan, Italy; and Singapore.
Parent company: Deutsche Bank AG.
Dean Barr is chief investment officer; Richard Goldman is client contact.
DuPont Capital Management Corp.
1 Righter Parkway, Suite 3200, Wilmington, DE 19803; phone: (302) 477-6000; fax: (302) 477-6301; www.dupontcapital.com
(U.S. $ millions)
Total worldwide assets 24,118
Worldwide institutional assets 24,118
Total U.S. institutional tax-exempt 22,276
Tax-exempt int'l/global 4,509
Internal tax-exempt int'l/global 4,509
Internal international 4,509
Active equity 3,129
Active bonds 437
Emerging markets equity, active 609
Emerging markets debt 334
International asset mix:
Equity 83%
Bonds 17%
Overlay strategies:
Derivatives 312
Internally managed underlying assets 312
Non-U.S. institutional tax-exempt 1,612
Internally managed non-U.S. 1,612
International equity: MSCI EAFE-GDP weighted is the primary benchmark. The firm is overweighted in Switzerland and the Netherlands; underweighted in Japan, the U.K., Germany, France and Hong Kong.
Analysts/portfolio managers: Stationed in Wilmington.
Parent company: E. I. du Pont de Nemours & Co.
E.J. Bassett is chief investment officer; J.W. Haley is client contact.
Evergreen Investments
200 Berkeley St., Boston, MA 02116; phone: (800) 225-1587; fax: (617) 210-3366; www.evergreeninvestments.com
(U.S. $ millions)
Total worldwide assets 217,836
Worldwide institutional assets 116,875
Total U.S. institutional tax-exempt 106,294
Tax-exempt int'l/global 8,034
Internal tax-exempt int'l/global 8,034
Internal international 7,968
Active equity 650
Enhanced indexed equity 75
Active bonds 7,063
Emerging markets equity, active 180
International asset mix:
Equity 12%
Bonds 88%
Internal global 66
Active equity 66
Global asset mix:
Equity 100%
International equity: MSCI EAFE Free is the primary benchmark. The firm is overweighted in the Netherlands and Hong Kong; underweighted in Japan, the U.K., Germany, France and Switzerland.
Global equity: MSCI World Free is the primary benchmark. The firm is overweighted in the U.K., Germany, France, Netherlands and Hong Kong; underweighted in the U.S., Japan and Switzerland.
Analysts/portfolio managers: Stationed in Boston; New York; Philadelphia; Richmond, Va.; Charlotte, N.C.; Jacksonville, Fla.; London; Winston-Salem, N.C.; and Atlanta.
Parent company: Wachovia Corp.
The statistics above include data from Evergreen Investment Management Co. LLC and Evergreen International Advisors LLC.
Dennis H. Ferro is chief investment officer; Sarah E. Morton is client contact.
Fidelity Investments
82 Devonshire St., Boston, MA 02109; phone: (800) 343-3548;
www.fidelity.com
(U.S. $ millions)
Total worldwide assets 1,017,454
Worldwide institutional assets 644,817
Total U.S. institutional tax-exempt 389,100
Tax-exempt int'l/global 18,017
Internal tax-exempt int'l/global 13,185
Internal international 10,979
Active equity 10,068
Emerging markets equity, active 53
Emerging markets debt 858
International asset mix:
Equity 92%
Bonds 8%
Internal global 2,206
Active equity 2,206
Global asset mix:
Equity 100%
Non-U.S. institutional tax-exempt 1,501
Internally managed non-U.S. 1,113
In addition to the assets listed above, Fidelity Investments oversees $4.83 billion in U.S. institutional tax-exempt assets managed by external firms. Of that, $4.76 billion was in international and $76 million was in global accounts.
Analysts/portfolio managers: Stationed in Boston, London, Tokyo and Hong Kong.
Parent company: FMR Corp.
The statistics above include data from: Fidelity Institutional Retirement Services Co., where Joe Dattilo is client contact at (508) 787-6889; Fidelity Investments Tax-Exempt Services Co., where Steve Keating is client contact at (508) 787-7207; Fidelity Management Trust Co., where Richard M.A. Horlick is client contact at (617) 392-8688; and Fidelity Investments Institutional Services Co. Inc., where Donald C. Holborn is client contact at (617) 563-1764.
Franklin Templeton Investments
1 Franklin Parkway, San Mateo, CA 94403; phone: (800) 368-3677; fax: (954) 527-2137; www.ftiinstitutional.com
(U.S. $ millions)
Total worldwide assets 274,473
Worldwide institutional assets 82,890
Total U.S. institutional tax-exempt 56,264
Tax-exempt int'l/global 39,273
Internal tax-exempt int'l/global 39,273
Internal international 20,745
Active equity 17,712
Active bonds 60
Emerging markets equity, active 2,970
Emerging markets debt 3
International asset mix:
Equity 100%
Internal global 18,528
Active equity 12,719
Active bonds 5,797
Real estate 12
Global asset mix:
Equity 69%
Bonds 31%
Non-U.S. institutional tax-exempt 13,428
Internally managed non-U.S. 13,428
International equity: MSCI All Country World Free ex-U.S. is the primary benchmark for the Templeton portfolios. Templeton is overweighted in Germany, the Netherlands and Hong Kong; underweighted in Japan, the U.K., France and Switzerland.
MSCI EAFE is the primary benchmark for the Fiduciary Trust portfolios.
Global equity: MSCI All Country World Free is the primary benchmark. The firm is overweighted in the U.K., Germany, France, the Netherlands and Hong Kong; underweighted in the U.S., Japan and Switzerland.
Analysts/portfolio managers: Stationed in San Mateo, Calif.; Fort Lauderdale, Fla.; Nassau, Bahamas; Toronto; Edinburgh; Hong Kong; Melbourne; London; Warsaw, Poland; Johannesburg, South Africa; Buenos Aires, Argentina; Istanbul; Washington; Singapore; Fort Lee, N.J.; Short Hills, N.J.; New York; Miami; Los Angeles; Geneva; Mumbai, India; Moscow; Shanghai; Rio de Janeiro; Seoul; and Calgary, Alberta.
Parent company: Franklin Resources Inc.
The statistics above include data from Franklin, Templeton, Fiduciary Trust Co. International and Mutual Series.
Greg Johnson is chief investment officer; Peter Anderson is client contact.
GE Asset Management Inc.
201 Merritt 7, P.O. Box 4800, Norwalk, CT 06856-4800; phone: (203) 229-5325; fax: (203) 229-5016;
www.geassetmanagement.com
(U.S. $ millions)
Total worldwide assets 159,112
Worldwide institutional assets 84,347
Total U.S. institutional tax-exempt 65,464
Tax-exempt int'l/global 12,296
Internal tax-exempt int'l/global 11,687
Internal international 11,687
Active equity 10,366
Indexed equity 3
Active bonds 533
Emerging markets equity, active 616
Other 169
International asset mix:
Equity 94%
Bonds 5%
Other 1%
Non-U.S. institutional tax-exempt 3,552
Internally managed non-U.S. 3,552
In addition to the assets listed above, GE Asset Management Inc. oversees $609 million in U.S. institutional tax-exempt assets managed by external firms. Of that, $589 million was in international and $20 million in global accounts.
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Germany, France and the Netherlands; underweighted in Japan, the U.K., Switzerland and Hong Kong.
Analysts/portfolio managers: Stationed in Stamford, Conn.; Montreal; Tokyo; London; and Los Angeles.
Parent company: General Electric Co.
John H. Myers is chief investment officer; Jack Boyce is client contact.
General Motors Asset Management
767 Fifth Ave., New York, NY 10153; phone: (212) 418-6150; fax: (212) 418-3654; www.gmam.com
(U.S. $ millions)
Total worldwide assets 112,100
Worldwide institutional assets 112,100
Total U.S. institutional tax-exempt 107,100
Tax-exempt int'l/global 22,200
Internal tax-exempt int'l/global 1,000
Internal international 1,000
Active equity 1,000
International asset mix:
Equity 100%
Overlay strategies:
Currency 9,300
Internally managed underlying assets 490
In addition to the assets listed above, General Motors Asset Management oversees $21.2 billion in U.S. institutional tax-exempt assets managed by external firms, all in international accounts.
International equity: A customized EuroPac index is the primary benchmark. The firm is overweighted in the U.K., France, Netherlands and Hong Kong; underweighted in Japan, Germany and Switzerland.
Analysts/portfolio managers: Stationed in New York.
Parent company: General Motors Corp.
W. Allen Reed is chief investment officer; Jack Miller is client contact.
Goldman Sachs Asset Management
32 Old Slip, 18th Floor, New York, NY 10005; phone: (212) 902-1000; fax: (917) 343-8248; www.gs.com
(U.S. $ millions)
Total worldwide assets 296,790
Worldwide institutional assets 214,846
Total U.S. institutional tax-exempt 51,722
Tax-exempt int'l/global 6,329
Internal tax-exempt int'l/global 6,329
Internal international 1,459
Active equity 994
Enhanced indexed equity 318
Active bonds 80
Emerging markets equity, active 43
Currency 24
International asset mix:
Equity 93%
Bonds 5%
Currency 2%
Internal global 4,870
Active equity 7
Active bonds 485
GTAA 4,378
Global asset mix:
Bonds 10%
GTAA 90%
Non-U.S. institutional tax-exempt 41,819
Internally managed non-U.S. 41,819
Analysts/portfolio managers: Stationed in New York; Tampa, Fla.; Princeton, N.J.; London; Tokyo; and Singapore.
Parent company: Goldman Sachs & Co.
Grantham, Mayo, Van Otterloo & Co. LLC
40 Rowes Wharf, Boston, MA 02110; phone: (617) 330-7500; fax: (617) 261-0134; www.gmo.com
(U.S. $ millions)
Total worldwide assets 24,684
Worldwide institutional assets 24,684
Total U.S. institutional tax-exempt 22,485
Tax-exempt int'l/global 13,732
Internal tax-exempt int'l/global 13,732
Internal international 12,122
Active equity 8,620
Active bonds 152
Emerging markets equity, active 2,015
Emerging markets debt 1,335
International asset mix:
Equity 88%
Bonds 12%
Internal global 1,610
Active equity 428
Active bonds 1,182
Global asset mix:
Equity 27%
Bonds 73%
Non-U.S. institutional tax-exempt 2,199
Internally managed non-U.S. 2,199
Analysts/portfolio managers: Stationed in Boston, San Francisco, London and Sydney.
Jeremy Grantham is chief investment officer; F. Corning Kenly is client contact.
INVESCO
1360 Peachtree St. N.E., Suite 100, Atlanta, GA 30309; phone: (404) 892-0896; fax: (404) 439-3229; www.invesco.com
(U.S. $ millions)
Total worldwide assets 400,028
Worldwide institutional assets 142,123
Total U.S. institutional tax-exempt 111,282
Tax-exempt int'l/global 6,231
Internal tax-exempt int'l/global 6,231
Internal international 6,231
Active equity 6,231
International asset mix:
Equity 97%
Cash 3%
Non-U.S. institutional tax-exempt 22,282
Internally managed non-U.S. 22,282
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Switzerland and the Netherlands; underweighted in Japan, the U.K., Germany, France and Hong Kong.
Analysts/portfolio managers: Stationed in Atlanta; Boston; Dallas; London; Louisville, Ky.; New York; Palo Alto, Calif.; San Francisco; Baltimore; Buenos Aires, Argentina;Denver; Frankfurt; Henley, England; Hong Kong; Houston; Melbourne, Australia; Milan, Italy; Paris; Singapore; Taipei, Taiwan; Tokyo; Toronto; Washington; and Warsaw, Poland.
Parent company: AMVESCAP PLC.
The statistics above include data from AIM Advisors Inc.
Erik Granade is chief investment officer; Kirk Holland is client contact.
Lazard Asset Management
30 Rockefeller Plaza, New York, NY 10112; phone: (212) 632-6000; fax: (212) 332-5901; www.lazardnet.com
(U.S. $ millions)
Total worldwide assets 65,015
Worldwide institutional assets 39,720
Total U.S. institutional tax-exempt 24,826
Tax-exempt int'l/global 15,236
Internal tax-exempt int'l/global 15,236
Internal international 11,838
Active equity 11,838
International asset mix:
Equity 100%
Internal global 3,398
Active equity 2,223
Active bonds 532
Emerging markets equity, active 643
Global asset mix:
Equity 84%
Bonds 16%
Non-U.S. institutional tax-exempt 10,886
Internally managed non-U.S. 10,886
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Switzerland and Netherlands; underweighted in Japan, the U.K., Germany, France and Hong Kong.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in Germany, France, Switzerland and Netherlands; underweighted in the U.S., Japan, the U.K. and Hong Kong.
Analysts/portfolio managers: Stationed in New York, London, Frankfurt, Sydney, Tokyo and Cairo.
Parent company: Lazard Freres & Co. LLC.
Herbert Gullquist is chief investment officer; Michael Charlton is client contact.
Legg Mason Inc.
100 Light St., Baltimore, MD 21202; phone: (410) 539-0000; www.leggmason.com
(U.S. $ millions)
Total worldwide assets 188,774
Worldwide institutional assets 135,840
Total U.S. institutional tax-exempt 97,979
Tax-exempt int'l/global 6,673
Internal tax-exempt int'l/global 6,655
Internal international 4,833
Active equity 844
Active bonds 2,172
Emerging markets equity, active 985
Emerging markets debt 832
International asset mix:
Equity 38%
Bonds 62%
Internal global 1,822
Active equity 4
Active bonds 1,798
Emerging markets debt 20
Global asset mix:
Bonds 100%
Non-U.S. institutional tax-exempt 16,940
Internally managed non-U.S. 16,940
In addition to the assets listed above, Legg Mason Inc. oversees $18 million in U.S. institutional tax-exempt assets managed by external firms, all in international accounts.
International equity: MSCI EAFE is the primary benchmark. The firm is underweighted in Japan, Germany, France and Switzerland.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the Japan, U.K., Netherlands and Hong Kong; underweighted in U.S., Germany, France and Switzerland.
Analysts/portfolio managers: Stationed in Baltimore; Boston; Cincinnati; Dayton, Ohio; London; Naples, Fla.; Montreal; New York; Pasadena, Calif.; Philadelphia; Singapore; Toronto; Vancouver, British Columbia; Waterloo, Ontario; Wilkes-Barre, Pa.; and Wilmington, Del.
The statistics above include data from Barrett Associates, Bartlett & Co., Batterymarch Financial Management, Berkshire Asset Management, Bingham Legg Advisers, Brandywine Asset Management, Focus Capital, Gray Seifert, Legg Mason Capital Management, Legg Mason Funds Management, Legg Mason Investors, Legg Mason Real Estate Services, Legg Mason Trust FSB, Legg Mason Wood Walker, Perigee Investment Counsel, Private Capital Management, Royce & Associates and Western Asset Management.
Edward A. Taber is client contact.
Marathon-London
Orion House, 5 Upper St. Martin's Lane, London WC2H 9EA England; phone: (44-207) 497-2211; fax: (44-207) 497-2399; www.marathon-london.com
(U.S. $ millions)
Total worldwide assets 10,700
Worldwide institutional assets 10,700
Total U.S. institutional tax-exempt 8,900
Tax-exempt int'l/global 8,900
Internal tax-exempt int'l/global 8,900
Internal international 8,400
Active equity 8,400
International asset mix:
Equity 100%
Internal global 500
Active equity 500
Global asset mix:
Equity 100%
Non-U.S. institutional tax-exempt 1,200
Internally managed non-U.S. 1,200
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Japan and Hong Kong; underweighted in the U.K., Germany, France, Switzerland and Netherlands.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in Hong Kong; underweighted in the U.S., Japan, the U.K., Germany, France, Switzerland and Netherlands.
Analysts/portfolio managers: Stationed in London.
Jeremy Hosking is chief investment officer; Helen Blanchard is client contact at (203) 263-0420.
Marvin & Palmer Associates Inc.
1201 N. Market St., Suite 2300, Wilmington, DE 19801-1165; phone: (302) 573-3570; fax: (302) 573-6772;
www.marvinandpalmer.com
(U.S. $ millions)
Total worldwide assets 7,239
Worldwide institutional assets 5,808
Total U.S. institutional tax-exempt 4,951
Tax-exempt int'l/global 4,822
Internal tax-exempt int'l/global 4,822
Internal international 4,575
Active equity 3,932
Emerging markets equity, active 643
International asset mix:
Equity 100%
Internal global 247
Active equity 247
Global asset mix:
Equity 100%
Non-U.S. institutional tax-exempt 457
Internally managed non-U.S. 457
International equity: MSCI EAFE is the primary benchmark. The firm is underweighted in Japan, the U.K., Germany, France, Switzerland, Netherlands and Hong Kong.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.S., and underweighted in Japan, the U.K., Germany, France, Switzerland, the Netherlands and Hong Kong.
Analysts/portfolio managers: Stationed in Wilmington, Del.
David F. Marvin is chief investment officer; Stephen Gannon is client contact.
Mellon Capital Management Corp.
595 Market St., Suite 3000, San Francisco, CA 94105; phone: (415) 546-6056; fax: (415) 975-2375; www.mcm.com
(U.S. $ millions)
Total worldwide assets 80,658
Worldwide institutional assets 80,658
Total U.S. institutional tax-exempt 64,219
Tax-exempt int'l/global 5,073
Internal tax-exempt int'l/global 5,073
Internal international 1,556
Indexed equity 1,556
International asset mix:
Equity 100%
Internal global 3,517
Balanced 3,517
Global asset mix:
Equity 64%
Bonds 36%
Overlay strategies:
Derivatives 17,682
Currency 140
Internally managed underlying assets 118
Non-U.S. institutional tax-exempt 1,340
Internally managed non-U.S. 1,340
Analysts/portfolio managers: Stationed in San Francisco.
Parent company: Mellon Financial Corp.
Thomas Hazuka is chief investment officer; Barbara Daugherty is client contact.
J.P. Morgan Fleming Asset Management
522 Fifth Ave., New York, NY 10036; phone: (212) 837-2300; fax: (212) 837-2780; www.jpmorganfleming.com
(U.S. $ millions)
Total worldwide assets 582,464
Worldwide institutional assets 387,365
Total U.S. institutional tax-exempt 145,668
Tax-exempt int'l/global 33,000
Internal tax-exempt int'l/global 19,582
Internal international 15,930
Active equity 6,191
Enhanced indexed equity 332
Active bonds 538
Emerging markets equity, active 1,602
Emerging markets debt 799
Currency overlay 6,468
International asset mix:
Equity 51%
Bonds 8%
Currency overlay 41%
Internal global 3,652
Active equity 1,673
Active bonds 1,979
Global asset mix:
Equity 46%
Bonds 54%
Overlay strategies:
Currency 16,154
Internally managed underlying assets 6,468
Non-U.S. institutional tax-exempt 79,304
Internally managed non-U.S. 79,304
In addition to the assets listed above, J.P. Morgan Fleming Asset Management oversees $13.42 billion in U.S. institutional tax-exempt assets managed by external firms, all in global accounts.
Analysts/portfolio managers: Stationed in New York; Boston; Houston; Los Angeles; San Francisco; Sao Paulo; Frankfurt; London; Madrid; Moscow; Prague, Czech Republic; Bangkok; Hong Kong; Melbourne; Mumbai, India; Seoul; Sydney; Taipei; and Tokyo.
Parent company: J.P. Morgan Chase & Co.
Eve Guernsey is client contact.
Morgan Stanley Investment Management Inc.
1221 Avenue of the Americas, New York, NY 10020; phone: (212) 762-7400; fax: (212) 762-7401; www.morganstanley.com/im
(U.S. $ millions)
Total worldwide assets 415,901
Worldwide institutional assets 176,392
Total U.S. institutional tax-exempt 64,794
Tax-exempt int'l/global 32,141
Internal tax-exempt int'l/global 32,141
Internal international 29,884
Active equity 26,330
Active bonds 2
Emerging markets equity, active 3,484
Emerging markets debt 68
International asset mix:
Equity 99%
Bonds 1%
Internal global 2,257
Active equity 594
Active bonds 1,663
Global asset mix:
Equity 26%
Bonds 74%
Non-U.S. institutional tax-exempt 4,907
Internally managed non-U.S. 4,907
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Japan, the U.K., Switzerland and the Netherlands; underweighted in Germany, France and Hong Kong.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.K., France, Switzerland and the Netherlands; underweighted in the U.S., Japan and Germany.
Analysts/portfolio managers: Stationed in New York; Philadelphia; London; Tokyo; Singapore; Mumbai, India; Amsterdam; Oak Brook, Ill.; and Houston.
Parent company: Morgan Stanley.
The statistics above include data from Morgan Stanley Investments LP, Morgan Stanley Investment Management Ltd., Morgan Stanley Asset & Investment Trust Management Co. Ltd., Morgan Stanley Investment Management Co., Morgan Stanley Investment Management Private Ltd., Van Kampen Investments Inc. and Morgan Stanley Investment Advisors Inc.
Joseph McAlinden is chief investment officer; Tracey Ivey is client contact at (610) 940-5188.
Nicholas-Applegate Capital Management
600 W. Broadway, 29th Floor, San Diego, CA 92101; phone: (619) 687-8000; fax: (619) 687-2979; www.nacm.com
(U.S. $ millions)
Total worldwide assets 25,516
Worldwide institutional assets 21,807
Total U.S. institutional tax-exempt 16,825
Tax-exempt int'l/global 5,119
Internal tax-exempt int'l/global 5,119
Internal international 4,191
Active equity 3,547
Emerging markets equity, active 644
International asset mix:
Equity 100%
Internal global 928
Active equity 928
Global asset mix:
Equity 100%
Non-U.S. institutional tax-exempt 2,578
Internally managed non-U.S. 2,578
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Hong Kong; underweighted in Japan, the U.K., Germany, France, Switzerland and Netherlands.
Global equity: MSCI All Country World Free is the primary benchmark. The firm is overweighted in France and Netherlands; underweighted in the U.S., Japan, the U.K., Germany, Switzerland and Hong Kong.
Analysts/portfolio managers: Stationed in San Diego.
Parent company: Allianz AG.
Catherine Somhegyi Nicholas is chief investment officer; Susan Small is client contact at (847) 784-8986.
Northern Trust Global Investments
50 S. LaSalle St., Chicago, IL 60675; phone: (312) 630-6000; fax: (312) 630-1488; www.northerntrust.com
(U.S. $ millions)
Total worldwide assets 337,739
Worldwide institutional assets 281,505
Total U.S. institutional tax-exempt 243,829
Tax-exempt int'l/global 8,911
Internal tax-exempt int'l/global 3,415
Internal international 3,196
Active equity 1,163
Indexed equity 991
Active bonds 50
Cash 992
International asset mix:
Equity 67%
Bonds 2%
Cash 31%
Internal global 219
Indexed bonds 219
Global asset mix:
Bonds 100%
Overlay strategies:
Derivatives 28
Internally managed underlying assets 28
Non-U.S. institutional tax-exempt 4,307
Internally managed non-U.S. 51
In addition to the assets listed above, Northern Trust Global Investments oversees $5.49 billion in U.S. institutional tax-exempt assets managed by external firms. Of that, $3.82 billion was in international and $1.67 billion in global accounts.
International equity: MSCI EAFE is the primary benchmark.
Analysts/portfolio managers: Stationed in Chicago and London.
Parent company: The Northern Trust Co.
The statistics above include data from Northern Trust Global Investments (Europe) and Northern Trust Global Advisors.
Orie L. Dudley is chief investment officer; Jim Barrett is client contact.
Oechsle International Advisors LLC
1 International Place, 23rd Floor, Boston, MA 02110; phone: (617) 330-8810; fax: (617) 330-8620
(U.S. $ millions)
Total worldwide assets 14,572
Worldwide institutional assets 14,572
Total U.S. institutional tax-exempt 12,434
Tax-exempt int'l/global 12,434
Internal tax-exempt int'l/global 12,434
Internal international 12,377
Active equity 12,024
Active bonds 353
International asset mix:
Equity 97%
Bonds 3%
Internal global 57
Active bonds 57
Global asset mix:
Bonds 100%
Non-U.S. institutional tax-exempt 357
Internally managed non-U.S. 357
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Japan, Germany, France, the Netherlands and Hong Kong; underweighted in the U.K. and Switzerland.
Analysts/portfolio managers: Stationed in Boston, Frankfurt, Tokyo and London.
S. Dewey Keesler is chief investment officer; Stephen P. Langer is client contact.
Pacific Investment Management Co.
840 Newport Center Drive, Suite 300, Newport Beach, CA 92660; phone: (949) 720-6000; fax: (949) 720-1376; www.pimco.com
(U.S. $ millions)
Total worldwide assets 253,765
Worldwide institutional assets 240,944
Total U.S. institutional tax-exempt 204,999
Tax-exempt int'l/global 6,108
Internal tax-exempt int'l/global 6,108
Internal international 4,589
Active bonds 3,286
Emerging markets debt 1,303
International asset mix:
Bonds 100%
Internal global 1,519
Active bonds 1,519
Global asset mix:
Bonds 100%
Non-U.S. institutional tax-exempt 10,982
Internally managed non-U.S. 10,982
Analysts/portfolio managers: Stationed in Newport Beach, Calif.; Munich; London; Sydney; Singapore; and Tokyo.
Parent company: Allianz Dresdner Asset Management ofAmerica LP.
William Gross is chief investment officer; John Loftus is client contact.
Pareto Partners
505 Park Ave., New York, NY 10022; phone: (212) 527-1800; fax: (212) 527-1818
(U.S. $ millions)
Total worldwide assets 34,428
Worldwide institutional assets 34,428
Total U.S. institutional tax-exempt 18,395
Tax-exempt int'l/global 17,820
Internal tax-exempt int'l/global 17,820
Internal international 288
Active bonds 288
International asset mix:
Bonds 100%
Internal global 17,532
Active bonds 322
Currency overlay 17,210
Global asset mix:
Bonds 2%
Currency overlay 98%
Overlay strategies:
Currency 17,210
Internally managed underlying assets 457
Non-U.S. institutional tax-exempt 14,410
Internally managed non-U.S. 14,410
Analysts/portfolio managers: Stationed in London, New York, Sydney and Los Angeles.
Dan Roberts is chief investment officer; Dan Lass is client contact.
Payden & Rygel
333 S. Grand Ave., Los Angeles, CA 90071; phone: (213) 625-1900; fax: (213) 617-0152; www.payden.com
(U.S. $ millions)
Total worldwide assets 36,725
Worldwide institutional assets 35,425
Total U.S. institutional tax-exempt 32,325
Tax-exempt int'l/global 5,110
Internal tax-exempt int'l/global 5,110
Internal international 95
Active equity 95
International asset mix:
Equity 100%
Internal global 5,015
Active equity 200
Active bonds 4,315
Emerging markets debt 500
Global asset mix:
Equity 4%
Bonds 96%
Overlay strategies:
Derivatives 200
Internally managed underlying assets 200
Non-U.S. institutional tax-exempt 3,100
Internally managed non-U.S. 3,100
International equity: Dow Jones STOXX is the primary benchmark. The firm is overweighted in Germany, France and Switzerland; underweighted in the U.K. and Netherlands.
Analysts/portfolio managers: Stationed in Los Angeles, London and Frankfurt.
Scott J. Weiner is client contact.
T. Rowe Price International Inc.
100 E. Pratt St., Baltimore, MD 21202; phone: (410) 345-2000; fax: (410) 547-1270; www.troweprice.com
(U.S. $ millions)
Total worldwide assets 23,952
Worldwide institutional assets 13,424
Total U.S. institutional tax-exempt 11,830
Tax-exempt int'l/global 11,830
Internal tax-exempt int'l/global 11,830
Internal international 11,830
Active equity 11,220
Active bonds 32
Emerging markets equity, active 578
International asset mix:
Equity 92%
Cash 8%
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in the U.K., France and Netherlands; underweighted in Japan, Germany, Switzerland and Hong Kong.
Analysts/portfolio managers: Stationed in Baltimore; London; Paris; Buenos Aires; Tokyo; Singapore; and Hong Kong.
Parent company: T. Rowe Price Associates Inc.
John Ford is chief investment officer; Debbie Veverka is client contact.
Prudential Financial
751 Broad St., Newark, N.J. 07102; phone: (973) 802-7399; fax: (973) 802-8420; www.prudential.com
(U.S. $ millions)
Total worldwide assets 378,824
Worldwide institutional assets 251,571
Total U.S. institutional tax-exempt 122,897
Tax-exempt int'l/global 4,987
Internal tax-exempt int'l/global 3,739
Internal international 2,623
Active equity 802
Indexed equity 814
Active bonds 558
Emerging markets debt 41
Real estate 354
Private equity 54
International asset mix:
Equity 61%
Bonds 23%
Other 16%
Internal global 1,116
Active equity 279
Active bonds 834
Venture capital 3
Global asset mix:
Equity 25%
Bonds 75%
Non-U.S. institutional tax-exempt 592
Internally managed non-U.S. 592
In addition to the assets listed above, Prudential Financial oversees $1.248 billion in U.S. institutional tax-exempt assets managed by external firms. Of that, $990 million was in international and $258 million in global accounts.
Analysts/portfolio managers: Stationed in Newark; New York; London; Tokyo; and Singapore.
The statistics above include data from Jennison Associates LLC.
Kevin Myers is client contact.
Putnam Investments
1 Post Office Square, Boston, MA 02109; phone: (617) 292-1000; fax: (617) 292-8614; www.putnaminv.com
(U.S. $ millions)
Total worldwide assets 313,571
Worldwide institutional assets 128,577
Total U.S. institutional tax-exempt 103,068
Tax-exempt int'l/global 37,648
Internal tax-exempt int'l/global 37,648
Internal international 31,035
Active equity 30,792
Active bonds 19
Emerging markets equity, active 209
Emerging markets debt 15
International asset mix:
Equity 99.9%
Bonds 0.1%
Internal global 6,613
Active equity 5,623
Active bonds 990
Global asset mix:
Equity 85%
Bonds 15%
Non-U.S. institutional tax-exempt 15,946
Internally managed non-U.S. 15,946
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in France; underweighted in Japan, the U.K., Germany, Switzerland, Netherlands and Hong Kong.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.S., the U.K., France and Netherlands; underweighted in Japan, Germany, Switzerland and Hong Kong.
Analysts/portfolio managers: Stationed in Boston, London and Tokyo.
Parent company: Marsh & McLennan Cos. Inc.
Tim Ferguson is chief investment officer; Frank Porcelli is client contact.
Rogge Global Partners PLC
Sion Hall, 56 Victoria Embankment, London EC4Y 0DZ England; phone: (44-207) 842-8420; fax: (44-207) 842-8421; www.rogge.co.uk
(U.S. $ millions)
Total worldwide assets 5,732
Worldwide institutional assets 5,512
Total U.S. institutional tax-exempt 4,152
Tax-exempt int'l/global 4,152
Internal tax-exempt int'l/global 4,152
Internal international 3,068
Active bonds 2,973
Emerging markets debt 95
International asset mix:
Bonds 99%
Cash 1%
Internal global 1,084
Active bonds 1,034
Emerging markets debt 50
Global asset mix:
Bonds 97%
Cash 3%
Non-U.S. institutional tax-exempt 1,360
Internally managed non-U.S. 1,360
Analysts/portfolio managers: Stationed in London and Westport, Conn.
Parent company: Old Mutual PLC.
Olaf Rogge is chief investment officer; Richard Gilmartin and Jonathan Dow are client contacts at (203) 254-7254.
Frank Russell Co.
909 A St., Tacoma, WA 98402; phone: (253) 572-9500; fax: (253) 591-3495; www.russell.com
(U.S. $ millions)
Total worldwide assets 70,300
Worldwide institutional assets 48,000
Total U.S. institutional tax-exempt 33,000
Tax-exempt int'l/global 4,700
Overlay strategies:
Derivatives 800
Non-U.S. institutional tax-exempt 9,500
Frank Russell Co. oversees $4.7 billion in U.S. institutional tax-exempt assets managed by external firms, all in international accounts.
Analysts/portfolio managers: Stationed in New York; Tacoma, Wash.; Sydney; Toronto; London; Tokyo; Auckland, New Zealand; Paris; and Singapore.
Parent company: Northwestern Mutual Life Insurance Co.
The statistics above include data from Frank Russell Trust Co., Frank Russell Investments (Japan) Ltd., Frank Russell Investments (Ireland) Ltd., Frank Russell Investment Management Co., Frank Russell Investments (U.K.) Ltd., Frank Russell Investments (Cayman) Ltd., Frank Russell Canada Ltd./Lte. and Frank Russell Co. Pty. Ltd.
Randy Lert is chief investment officer; Lou Rowan is client contact.
Schroder Investment Management North America Inc.
875 Third Ave., 22nd Floor, New York, NY 10022; phone: (212) 641-3900; fax: (212) 641-3985; www.schroders.com
(U.S. $ millions)
Total worldwide assets* 160,115
Worldwide institutional assets 131,820
Total U.S. institutional tax-exempt 21,871
Tax-exempt int'l/global 18,748
Internal tax-exempt int'l/global 18,748
Internal international 18,748
Active equity 13,543
Emerging markets equity, active 5,185
Emerging markets debt 20
International asset mix:
Equity 97%
Cash 3%
Non-U.S. institutional tax-exempt* 78,135
Internally managed non-U.S. 78,135
*as of Dec. 31, worldwide and non-U.S. only
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in Germany, France, Switzerland, the Netherlands and Hong Kong; underweighted in Japan and the U.K.
Analysts/portfolio managers: Stationed in London; Boston; New York; Mexico City; Buenos Aires; Sao Paulo; Hong Kong; Seoul; Shanghai; Singapore; Sydney; Taipei; Tokyo; Zurich; and Geneva.
Parent company: Schroders PLC.
Frances Selby is client contact.
Silchester International Investors Ltd.
780 Third Ave., 42nd Floor, New York, NY 10017; phone: (212) 376-7560; fax: (212) 376-7555
(U.S. $ millions)
Total worldwide assets 8,530
Worldwide institutional assets 7,676
Total U.S. institutional tax-exempt 7,359
Tax-exempt int'l/global 7,359
Internal tax-exempt int'l/global 7,359
Internal international 7,359
Active equity 7,359
International asset mix:
Equity 100%
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in the U.K., Switzerland, Netherlands and Hong Kong; underweighted in Japan, Germany and France.
Analysts/portfolio managers: Stationed in London.
Stephen Butt is chief investment officer; Christopher Cowie is client contact.
State Street Global Advisors
2 International Place, Boston, MA 02110; phone: (617) 664-4738; fax: (617) 664-2950; www.ssga.com
(U.S. $ millions)
Total worldwide assets 805,739
Worldwide institutional assets 785,740
Total U.S. institutional tax-exempt 668,336
Tax-exempt int'l/global 81,016
Internal tax-exempt int'l/global 80,546
Internal international 76,809
Active equity 2,424
Indexed equity 66,916
Enhanced indexed equity 115
Active bonds 1,842
Indexed bonds 231
Emerging markets equity, active 2,359
Emerging markets equity, indexed 2,922
International asset mix:
Equity 97%
Bonds 3%
Internal global 3,737
Active equity 189
Indexed equity 1,116
Enhanced indexed equity 30
Active bonds 1,381
Indexed bonds 1,021
Global asset mix:
Equity 36%
Bonds 64%
Overlay strategies:
Currency 12,086
Other 8,427
Internally managed underlying assets 17,563
Non-U.S. institutional tax-exempt 104,281
Internally managed non-U.S. 104,281
In addition to the assets listed above, State Street Global Advisors oversees $470 million in U.S. institutional tax-exempt assets managed by external firms, all in international accounts.
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in the U.K., France and the Netherlands; underweighted in Japan, Germany, Switzerland and Hong Kong.
Global equity: MSCI World is the primary benchmark. The firm is overweighted in the U.S., the U.K., France, the Netherlands and Hong Kong; underweighted in Japan, Germany and Switzerland.
Analysts/portfolio managers: Stationed in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney and Tokyo.
Parent company: State Street Corp.
The statistics above include data from SSgA Hong Kong, SSgA United Kingdom, SSgA Canada, SSgA France, SSgA Australia, SSgA Japan and SSgA Germany.
Alan Brown is chief investment officer; Chris Pope is defined benefit plan client contact.
Strategic Investment Group
1001 19th St. N., 16th Floor, Arlington, VA 22209; phone: (703) 243-4433; fax: (703) 243-2266; www.2strategic.com
(U.S. $ millions)
Total worldwide assets 7,605
Worldwide institutional assets 7,396
Total U.S. institutional tax-exempt 5,707
Tax-exempt int'l/global 4,787
Non-U.S. institutional tax-exempt 562
Internally managed non-U.S. 100
Strategic Investment Group oversees $4.79 billion in U.S. institutional tax-exempt assets managed by external firms, all in global accounts.
Analysts/portfolio managers: Stationed in Arlington, Va.
Christopher Brightman is chief investment officer; Brielle Dravin is client contact.
TIAA-CREF
730 Third Ave., New York, NY 10017; phone: (212) 490-9000; fax: (212) 916-4966; www.tiaa-cref.org
(U.S. $ millions)
Total worldwide assets 277,195
Worldwide institutional assets 271,766
Total U.S. institutional tax-exempt 271,766
Tax-exempt int'l/global 6,785
Internal tax-exempt int'l/global 6,785
Internal global 6,785
Analysts/portfolio managers: Stationed in New York.
Martin L. Leibowitz is chief investment officer; David Shunk is client contact.
TT International Investment Management
Martin House, 5 Martin Lane, London EC4R 0DP England; phone: (44-207) 410-3500; fax: (44-207) 410-3509; www.ttint.com
(U.S. $ millions)
Total worldwide assets 7,998
Worldwide institutional assets 7,512
Total U.S. institutional tax-exempt 5,645
Tax-exempt int'l/global 5,645
Internal tax-exempt int'l/global 5,645
Internal international 5,645
Active equity 5,645
International asset mix:
Equity 97%
Cash 3%
Non-U.S. institutional tax-exempt 1,445
Internally managed non-U.S. 1,445
International equity: MSCI EAFE is the primary benchmark. The firm is overweighted in the U.K. and underweighted in Japan, Germany, Netherlands and Hong Kong.
Analysts/portfolio managers: Stationed in London.
Henry Bedford is chief investment officer; Toby Gibb is client contact.
UBS Global Asset Management
209 S. LaSalle St., Chicago, IL 60604; phone: (312) 220-7100; fax: (312) 220-7199; www.ubs.com/globalam
(U.S. $ millions)
Total worldwide assets 398,062
Worldwide institutional assets 191,605
Total U.S. institutional tax-exempt 55,964
Tax-exempt int'l/global 13,532
Internal tax-exempt int'l/global 13,532
Internal international 7,171
Active equity 5,470
Active bonds 1,661
Emerging markets equity, active 4
Emerging markets debt 36
International asset mix:
Equity 76%
Bonds 23%
Cash 1%
Internal global 6,361
Active equity 3,625
Active bonds 1,389
Emerging markets equity, active 85
Emerging markets debt 28
Real estate 64
Other 1,170
Global asset mix:
Equity 58%
Bonds 22%
Cash 3%
Other 17%
Non-U.S. institutional tax-exempt 125,787
Internally managed non-U.S. 125,787
International equity: MSCI World Free ex-U.S. Unhedged is the primary benchmark. The firm is overweighted in the U.K., France and the Netherlands; underweighted in Japan, Germany, Switzerland and Hong Kong.
Global equity: MSCI World Free Unhedged is the primary benchmark. The firm is overweighted in the U.K., France, the Netherlands and Hong Kong; underweighted in the U.S., Japan, Germany and Switzerland.
Analysts/portfolio managers: Stationed in Chicago; London; Zurich; Tokyo; New York; Montreal; Dallas; Frankfurt; Geneva; Hong Kong; Hartford, Conn.; Toronto; Manama, Bahrain; Melbourne, Australia; Paris; San Francisco; Vancouver, British Columbia; Sydney; Taipei, Taiwan; and West Lebanon, N.H.
Parent company: UBS AG.
The statistics above include data from UBS Realty Investors LLC, UBS Timber Investors, UBS AgriVest LLC and O'Connor LLC.
Jeffrey J. Diermeier is chief investment officer; Deborah D. Boedicker is client contact.
The Vanguard Group Inc.
100 Vanguard Blvd., Malvern, PA 19355; phone: (800) 523-1036; fax: (610) 669-4013; www.vanguard.com
(U.S. $ millions)
Total worldwide assets 630,600
Worldwide institutional assets 279,132
Total U.S. institutional tax-exempt 191,485
Tax-exempt int'l/global 4,616
Internal tax-exempt int'l/global 1,256
Internal international 1,256
Indexed equity 1,174
Emerging markets equity, indexed 82
International asset mix:
Equity 100%
Non-U.S. institutional tax-exempt 2,580
Internally managed non-U.S. 2,492
In addition to the assets listed above, The Vanguard Group Inc. oversees $3.36 billion in U.S. institutional tax-exempt assets managed by external firms. Of that, $3.34 billion was in international and $23 million in global accounts.
Analysts/portfolio managers: Stationed in Malvern and Brussels.
Gerard Mullane is client contact.
Wellington Management Co. LLP
75 State St., Boston, MA 02109; phone: (617) 951-5000; fax: (617) 263-4100; www.wellington.com
(U.S. $ millions)
Total worldwide assets 321,509
Worldwide institutional assets 113,554
Total U.S. institutional tax-exempt 65,146
Tax-exempt int'l/global 7,503
Internal tax-exempt int'l/global 7,503
Internal international 5,593
Active equity 3,832
Active bonds 1,224
Emerging markets equity, active 427
Emerging markets debt 110
International asset mix:
Equity 76%
Bonds 24%
Internal global 1,910
Active equity 1,461
Active bonds 449
Global asset mix:
Equity 76%
Bonds 24%
Non-U.S. institutional tax-exempt 21,356
Internally managed non-U.S. 21,356
Analysts/portfolio managers: Stationed in Boston; Radnor, Pa.; and Singapore.
Angela Papadopoulos is client contact.
