This issue marks the 32nd year Pensions & Investments has profiled leading institutional asset managers.
Manager profiles, tables, charts
Our annual directory — ranking and profiling managers of U.S. institutional tax-exempt assets — began with a mere 250 firms that were asked about 10 questions. Of the firms profiled, only six — all Canadians — came from outside the United States.
For this issue, compiling year-end 2004 data, we rank 775 managers. Of those, 15 are from Canada and 25 gave addresses from outside North America (not counting large U.S.-based affiliates of foreign firms). The questionnaire — now completed and submitted electronically — covers the spectrum from worldwide assets to worldwide institutional to U.S. institutional tax exempt. Within the U.S. institutional tax-exempt arena, we further break the assets into investment class and, then, into management style.
All asset management firms are allowed to provide information for the survey; the only qualification for inclusion in the database is that the firm must manage assets for U.S. tax-exempt institutions such as qualified pension plans, endowments or foundations. (A ranking of the largest managers in the world, based on total worldwide assets, will be published Sept. 5.)
All qualified firms may be included on the charts and tables that are published in the issue, but only the largest 500 firms — ranked by worldwide institutional assets — are profiled in the issue. Profiles of all qualified managers, as well as more charts and tables, are available on our website, www.pionline.com.
P&I contacted more than 1,100 banks, trust companies, insurance companies and independent investment management firms in North America and abroad. The data contained in the stories, profiles, charts and tables in this directory issue and on the website were developed by P&I staff from the firms' answers to the detailed, online questionnaire.
All information, except where noted, is as of Dec. 31.
As in previous years, managers were asked to provide the investment mix of the U.S. tax-exempt institutional assets under internal management; the amount invested for defined contribution plans, defined benefit plans and endowments and foundations; areas of investment capabilities; dollar amounts invested in various asset classes and investment strategies; and the names of the chief investment officer and client contact.
International and global managers are included in this issue, but they will also be profiled in a separate, detailed directory to be published June 27. A special report focusing on the managers of real estate assets will be published Oct. 17.
All data in this special report are ©2005 Crain Communications Inc. Reproduction without permission is prohibited.