Welcome to Pensions & Investments' third annual Databook.
In the following pages, readers will find a collection of charts, tables and statistics on a variety of investment management subjects. This compendium is a reference book for tax-exempt fund executives and those who provide services to them, including money managers, consultants and other vendors.
The bulk of the content is from the pages of P&I during 2003. As regular readers know, Pensions & Investments publishes a vast amount of data about pension funds and institutional investors every year, mostly from our own surveys. Our goal with Databook is to capture most of that data in one place. Among the highlights are two big rankings undertaken jointly with Watson Wyatt Worldwide — one on the world's largest money managers, and another on the world's largest pension funds.
Other rankings from P&I included in Databook are the 50 largest real estate money managers, covering real estate equity, timber, real estate investment trusts, hybrid debt, mezzanine assets and mortgage assets;the 50 largest international/global money managers with U.S. tax-exempt assets under management; the 50 largest managers of U.S. defined contribution/401(k) assets; and the 50 largest index fund managers and the growth of indexed assets.
From our money managers issue in May, you'll find a listing of the 100 largest money managers with U.S. tax-exempt assets under management, listings of top managers ranked by investment styles and a list of managers that assign the most assets to others.
(You won't, however, find our annual listings and rankings that appear early in the year. That's because the new ones are due out so soon that the old ones would become obsolete too quickly. So, for example, statistics from Pensions & Investments' annual directory of the nation's largest pension funds aren't in Databook because the 2004 directory will be published Jan. 26.) Except for correcting obvious errors, the information on the pages that follow is identical to what we published during the year. It is not updated.
We've also tapped outside sources to provide information we hope will help our readers do their jobs more effectively. A ranking of the 100 largest endowments is offered courtesy of the National Association of College and University Business Officers. A list of the 50 largest foundations and a chart displaying the growth of foundations since 1975 comes from The Foundation Center. A chart from Hennessee Group LLC shows the growth of hedge funds and hedge fund assets, and Hedge Fund Research Inc. offers a ranking of the 25 largest hedge funds of funds. Hedge funds ranked by one- and five-year returns and a ranking of the largest hedge funds by assets under management come from MAR/Hedge. Data on the growth and number of exchange-traded funds and a table on worldwide ETF data is offered by Morgan Stanley, while Lipper gives us a list of the largest ETFs ranked by one-year return. And from Ibbotson Associates Inc. come data showing historical returns of the S&P 500 and 30-day Treasury bills.