Total worldwide assets under internal indexed management continued their steady growth in the first half of 2006, reaching $4.55 trillion as of June 30, according to Pensions & Investments' latest survey of the leading index managers.
That figure is a 5.3% increase from the $4.32 trillion as of Dec. 31. When adjusted for market changes, worldwide indexed assets rose 1.4%.
(Click here for charts and data from this special report.)
During the six months, the Russell 3000 index returned 3.2%; the Lehman Brothers U.S. Government/Credit index returned -1.2%; the Morgan Stanley Capital International Europe Australasia Far East index returned 10.5%; and the Citigroup Non-dollar World Government Bond index returned 3.8%.
The top five index managers held their positions during the six months.
Barclays Global Investors, San Francisco, reported $1.52 trillion in worldwide indexed assets as of June 30, a market-adjusted increase of 1.3% from $1.43 trillion as of Dec. 31. Fixed income — both domestic and international — saw the greatest increase in worldwide indexed assets at BGI, with market-adjusted increases of 11.6% and 12.5%, respectively.
Those increases are primarily because of new business in liability-driven strategies and securities lending, according to Jonathan Cohen, fixed-income strategist at BGI.
"The real growth has been in the U.K. and Europe," added Mr. Cohen.
State Street Global Advisors, Boston, reported $1.31 trillion in worldwide indexed assets as of June 30, a market-adjusted increase of 3% from $1.24 trillion as of Dec. 31. SSgA's domestic fixed-income assets saw the greatest gain, with a market-adjusted increase of 12.2%.