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September 06, 2004 01:00 AM

World's 300 largest money managers

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    P&I/Watson Wyatt's world 300 largest managers

    Ranked by total assets, in millions, as of Dec. 31, 2003.

    RANKmanagerCountryAssets
    1UBSSwitzerland$1,782,000
    2Allianz GroupGermany$1,327,000
    3Fidelity InvestmentsU.S.$1,138,891
    4State Street GlobalU.S.$1,106,385
    5Barclays Global InvestorsU.K.$1,070,224
    6AXA GroupFrance$972,780
    7Crdit SuisseSwitzerland$971,000
    8KampoJapan$877,049
    9Capital GroupU.S.$814,097
    10Vanguard GroupU.S.$725,300
    11Deutsche Asset Mgmt.Germany$714,899
    12Mellon FinancialU.S.$616,622
    13CitigroupU.S.$608,985
    14ING Investment Mgmt.Netherlands$590,000
    15J.P. Morgan FlemingU.S.$558,998
    16Merrill LynchU.S.$499,667
    17Northern Trust GlobalU.S.$478,626
    18Crdit AgricoleFrance$476,725
    19Morgan StanleyU.S.$450,252
    20AIG Global InvestmentU.S.$440,897
    21Prudential FinancialU.S.$432,073
    22AvivaU.K.$426,696
    23HSBC HoldingsU.K.$399,000
    24CDC IXIS Asset Mgmt.France$396,500
    25Wellington ManagementU.S.$393,992
    26Fortis GroupBelgium$384,041
    27American ExpressU.S.$366,325
    28AMVESCAPU.K./U.S.$365,443
    29Socit GnraleFrance$356,477
    30Nippon Life InsuranceJapan$355,3831
    31MetLifeU.S.$350,235
    32GeneraliItaly$348,455
    33Goldman SachsU.S.$347,724
    34BNP ParibasFrance$346,435
    35Aegon Asset Mgmt.Netherlands$345,590
    36Franklin TempletonU.S.$336,721
    37Bank of AmericaU.S.$335,700
    38ZenkyorenJapan$331,3291
    39BlackRockU.S.$309,356
    40TIAA-CREFU.S.$307,089
    41MassMutual FinancialU.S.$285,000
    42Prudential M&GU.K.$278,834
    43Legg MasonU.S.$277,716
    44Sun Life FinancialCanada$277,306
    45Wachovia Corp.U.S.$248,246
    46Charles SchwabU.S.$244,920
    47Legal & General GroupU.K.$242,280
    48Putnam InvestmentsU.S.$239,648
    49Mitsubishi Trust & BankingJapan$238,5002
    50Dai-ichi Mutual Life InsuranceJapan$234,5981
    51Norinchukin Bank GroupJapan$233,7711
    52Rabobank GroupNetherlands$230,957
    53Sumitomo Trust & BankingJapan$228,670
    54Old MutualSouth Africa$222,238
    55ABN AMRO Asset Mgmt.Netherlands$196,206
    56Federated InvestorsU.S.$195,570
    57Bank OneU.S.$190,890
    58T. Rowe PriceU.S.$189,960
    59Stichting PensioenfondsNetherlands$189,725
    60NationwideU.S.$188,443
    61Sanpaolo IMIItaly$180,461
    62GE Asset Mgmt.U.S.$180,382
    63Mitsui Trust HoldingsJapan$180,2812
    64Sumitomo Life InsuranceJapan$177,3271
    65Zurich Financial ServicesSwitzerland$175,967
    66Schroder Investment Mgmt.U.K.$175,528
    67New York Life Invest. Mgmt.U.S.$175,475
    68Munich RE (MEAG)Germany$170,952
    69FleetBoston FinancialU.S.$168,000
    70DekaBankGermany$164,714
    71Mizuho Trust & BankingJapan$160,2222
    72Standard Life AssuranceU.K.$157,155
    73Wells FargoU.S.$152,154
    74Janus Capital GroupU.S.$151,455
    75Gruppo IntesaItaly$151,274
    76General MotorsU.S.$150,655
    77Swiss Life HoldingSwitzerland$148,309
    78Unicredito ItalianoItaly$147,407
    79John Hancock FinancialU.S.$142,543
    80BBVASpain$141,932
    81Union InvestmentGermany$138,323
    82Scottish Widows InvestmentU.K.$138,195
    83Nomura Asset Mgmt.Japan$136,945
    84Banco Santander CentralSpain$136,695
    85Meiji Life InsuranceJapan$130,5661
    86Commerzbank Asset Mgmt.Germany$128,784
    87U.S. Bancorp Asset Mgmt.U.S.$127,720
    88Resona HoldingsJapan$126,1862
    89HHGU.K.$125,520
    90Insight Investment Mgmt.U.K.$124,554
    91Manulife FinancialCanada$121,022
    92HVB GroupGermany$120,499
    93Principal Global InvestorsU.S.$118,463
    94Lehman BrothersU.S.$116,2003
    95F&C ManagementU.K.$114,256
    96ISIS Asset Mgmt.U.K.$113,690
    97SEBSweden$113,461
    98Caisse de Dept et PlacementCanada$108,373
    99Dodge & CoxU.S.$107,993
    100AMPAustralia$107,584
    101The HartfordU.S.$105,873
    102Lincoln NationalU.S.$105,800
    103UFJ Trust BankJapan$104,1642
    104ProvidentiaSwitzerland$98,791*
    105PictetSwitzerland$98,000
    106Fortis InvestmentsU.S.$96,566
    107Nuveen InvestmentsU.S.$95,356
    108Russell Investment GroupU.S.$94,500
    109Lombard Odier Darier HentschSwitzerland$94,000
    110Affiliated Managers GroupU.S.$91,524
    111SEI InvestmentsU.S.$90,500
    112TD Asset ManagementCanada$90,040
    113Bank of New YorkU.S.$89,000
    114Zurcher KantonalbankSwitzerland$87,706
    115American CenturyU.S.$87,393
    116KBC Asset Mgmt.Belgium$85,327
    117Swiss RESwitzerland$85,322
    118Nordea Investment Mgmt.Denmark$84,616
    119Eaton VanceU.S.$83,6004
    120Natexis Banques PopulairesFrance$79,329
    121Dexia Asset Mgmt.Belgium$78,448
    122Hermes Pensions Mgmt.U.K.$78,228
    123Yasuda Mutual Life InsuranceJapan$75,9331
    124Brandes InvestmentU.S.$75,789
    125Commonwealth Bank AustraliaAustralia$74,913
    126BMO Financial GroupCanada$74,154
    127Lord, AbbettU.S.$72,180
    128Lazard FreresU.S.$71,921
    129Carlson Investment Mgmt.Sweden$71,000
    130DnB NORNorway$69,136
    131KeyCorpU.S.$68,703
    132Bank of Ireland Asset Mgmt.Ireland$67,916
    133Royal Bank of CanadaCanada$67,758
    134CIGNA RetirementU.S.$67,547
    135Danske Bank GroupDenmark$62,375
    136Mitsui Mutual Life InsuranceJapan$62,1741
    137Samsung Life InsuranceKorea$61,1011
    138GroupamaFrance$60,877
    139Phoenix Cos.U.S.$59,151
    140Daiwa Asset Mgmt.Japan$58,017
    141Nikko Asset Mgmt.Japan$57,096
    142Grantham, Mayo v. OtterlooU.S.$54,978
    143Bridgewater AssociatesU.S.$54,882
    144Lend LeaseAustralia$54,6785
    145Union Bancaire PriveeSwitzerland$54,013
    146Monte dei Paschi di SienaItaly$53,050
    147Taiyo Mutual Life InsuranceJapan$53,0061
    148La BaloiseSwitzerland$52,766
    149Asahi Mutual Life InsuranceJapan$52,7551
    150Tokio Marine & FireJapan$51,6901
    151Payden & RygelU.S.$50,345
    152Trusco CapitalU.S.$50,195
    153National Australia BankAustralia$49,4362
    154Gruppo Bancario CapitaliaItaly$49,418
    155WestAMGermany$49,352
    156Daido Life InsuranceJapan$49,1411
    157ArcaItaly$48,718
    158Royal Bank of ScotlandU.K.$48,537
    159Banque Cantonale VaudoiseSwitzerland$48,497
    160SkandiaSweden$48,466
    161Dimensional Fund AdvisorsU.S.$48,292
    162Baillie GiffordU.K.$48,276
    163DLIBJ Asset Mgmt.Japan$46,917
    164Julius Baer Asset Mgmt.Switzerland$46,890
    165Davis AdvisorsU.S.$46,125
    166Mitsui Sumitomo InsuranceJapan$45,6841
    167Macquarie Bank GroupAustralia$44,148
    168Nissay Asset Mgmt.Japan$43,465
    169AlectaSweden$43,314
    170Cathay Life InsuranceTaiwan$42,799
    171SanlamSouth Africa$42,481
    172TAL Global Asset Mgmt.Canada$42,146
    173Life Insurance of IndiaIndia$42,060*
    174Gerling-KonzernGermany$41,785*
    175IDUNA GruppeGermany$41,422
    176Aberdeen Asset Mgmt.U.K.$41,282
    177Royal LondonU.K.$41,216
    178La CaixaSpain$40,251
    179Pareto PartnersU.K.$39,926
    180Vontobel GroupSwitzerland$39,765
    181Banco SabadellSpain$39,143
    182Fukoku Mutual Life InsuranceJapan$38,6321
    183Swissca Portfolio Mgmt.Switzerland$38,545
    184Man GroupU.K.$38,5006
    185Fischer Francis TreesU.S.$38,425
    186Brown Brothers HarrimanU.S.$37,713
    187Strong CapitalU.S.$37,577
    188Banca Nazionale del LavoroItaly$36,701
    189Banca Popolare di VeronaItaly$36,691
    190Waddell & ReedU.S.$36,573
    191Investec GroupSouth Africa$36,568
    192Banco do BrazilBrazil$35,343
    193Fifth Third BancorpU.S.$35,154
    194Delta Lloyd Asset Mgmt.Netherlands$34,936
    195Sompo Japan InsuranceJapan$34,8541
    196Phillips, Hager & NorthCanada$34,593
    197PRIMECAPU.S.$34,268
    198Munder CapitalU.S.$34,237
    199Svenska HandelsbankenSweden$34,200
    200Jarislowsky FraserCanada$33,592
    201Fayez SarofimU.S.$33,524
    202Bayern VersicherungGermany$33,423
    203Artisan PartnersU.S.$31,867
    204WestpacAustralia$31,457
    205Sumitomo Mitsui Asset Mgmt.Japan$31,4346
    206Mackenzie FinancialCanada$30,8856
    207RoburSweden$30,752
    208AMR InvestmentU.S.$30,236
    209CommonfundU.S.$30,145
    210SogeposteFrance$29,6746
    211BPU Banca GroupItaly$29,497
    212AMF PensionSweden$28,532
    213National City InvestmentU.S.$28,514
    214PFA Pension ForsikringDenmark$28,472
    215Hanwha GroupKorea$28,462
    216Oaktree CapitalU.S.$27,851
    217Banca LombardaItaly$27,7192
    218Gabelli Asset Mgmt.U.S.$27,559
    219Fort WashingtonU.S.$26,627
    22040/86 AdvisorsU.S.$26,229
    221RaiffeisenAustria$25,983
    222Britannic Asset Mgmt.U.K.$25,544
    223Pathway CapitalU.S.$25,526
    224Southeastern Asset Mgmt.U.S.$25,469
    225BradescoBrazil$24,972
    226Kyobo LifeKorea$24,953
    227DuPont CapitalU.S.$24,339
    228Wilmington TrustU.S.$24,300
    229Calamos Asset Mgmt.U.S.$23,847
    230Queensland InvestmentAustralia$23,781
    231Daiwa SB InvestmentsJapan$23,676
    232Nipponkoa InsuranceJapan$23,6631
    233Storebrand GroupNorway$23,661
    234MediolanumItaly$23,369
    235LaSalle InvestmentU.S.$23,247
    236Caja MadridSpain$22,990
    237STANLIB Asset Mgmt.South Africa$22,948
    238Bear StearnsU.S.$22,839
    239Bank LeuSwitzerland$22,741
    240Sampo GroupFinland$22,719
    241McLean BuddenCanada$22,643
    242Gruppo BipielleItaly$22,467
    243GothaerGermany$22,400*
    244ItauBrazil$22,312*
    245Mercantile BanksharesU.S.$21,800
    246FirstRand GroupSouth Africa$21,6445
    247Erste BankAustria$21,464
    248Marathon Asset Mgmt.U.K.$21,335
    249J. & W. SeligmanU.S.$21,105
    250Oppenheim Asset Mgmt.Germany$20,962
    251Banca Popolare di MilanoItaly$20,741
    252Raymond James FinancialU.S.$20,697
    253Irish Life InvestmentIreland$20,640
    254NISA InvestmentU.S.$20,552
    255Daehan Investment TrustKorea$20,465
    256Les Mutuelles du MansFrance$20,282*
    257Fisher InvestmentsU.S.$20,229
    258National Bank of CanadaCanada$19,774
    259Bank of OklahomaU.S.$19,580
    260T&D Asset ManagementJapan$19,042
    261NuernbergerGermany$18,807
    262CredemItaly$18,611
    263Mapfre VidaSpain$18,481
    264Caixa Gestao de ActivosPortugal$18,391
    265LSV Asset Mgmt.U.S.$18,256
    266Ohio NationalU.S.$18,238
    267Philips Pensions CompetenceNetherlands$17,700
    268Ryan LabsU.S.$17,381
    269William BlairU.S.$17,339
    270Korea Investment TrustKorea$17,259
    271Alte-Leipziger TrustGermany$17,146*
    272HarbourVest PartnersU.S.$17,136
    273HighMark CapitalU.S.$17,040
    274HUK CoburgGermany$16,796
    275Uniqa GroupAustria$16,611
    276Metzler Asset Mgmt.Germany$16,443
    277Seix Investment AdvisorsU.S.$16,232
    278Ariel CapitalU.S.$16,111
    279FolksamSweden$15,873
    280PFM Asset ManagementU.S.$15,749
    281M & I InvestmentU.S.$15,685
    282Arnhold & S. BleichroederU.S.$15,481
    283Grupo Banco PopularSpain$15,441
    284Dai-lchi Kangyo Asset Mgmt.Japan$15,421
    285Protective LifeU.S.$15,233
    286Industrial Alliance Life InsuranceCanada$15,120
    287Jacobs Levy EquityU.S.$14,998
    288Advantus CapitalU.S.$14,982
    289BB&T Asset Mgmt.U.S.$14,935
    290Oechsle InternationalU.S.$14,608
    291Aronson + Johnson + OrtizU.S.$14,581
    292BW BankGermany$14,560
    293CB Richard Ellis InvestorsU.S.$14,465
    294Bank SarasinSwitzerland$14,328
    295Value Asset ManagementU.S.$14,327
    296Glenmede TrustU.S.$14,247
    297NFU Mutual InsuranceU.K.$14,200
    298Bank DegroofBelgium$13,933
    299ESAF SGPSPortugal$13,886
    300Greystone ManagedCanada$13,728

    1As of March 31, 2003; 2As of Sept. 30; 3As of Nov. 30; 4As of Jan. 31; 5As of June 30, 2003; 6As of March 31; 7As of June 30; *Estimate
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