This issue marks the 33rd year that Pensions & Investments has profiled leading institutional asset managers. 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.
For this issue, compiling year-end 2005 data, we profile 793 managers, all of whom completed a questionnaire that 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 classes and, then, into management styles.
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. institutional 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. 4.)
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 at www.pionline.com/managers.
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. institutional tax-exempt 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 26. A special report focusing on the managers of real estate assets will be published Oct. 16.
All data in this special report are %A9;2006 Crain Communications Inc. Reproduction without permission is prohibited.