Every spring for more than 30 years, Pensions & Investments has issued its ranking of the largest U.S. money managers - essential reading not only for the managers themselves, but for investment consultants and institutional investors as well. In the 2008 edition, P&I dug deep into the assets that these managers run for their clients, uncovering the big trends in the industry and identifying where institutional investors are moving their assets and what's driving them to do so. (Click here for a 30-minute webcast with industry experts Ben Phillips, managing director and head of strategic research at Jefferies Putnam Lovell, and Kevin Quirk, a partner at Casey Quirk & Associates, analyzing the numbers and looking ahead to the second half of the year.)
In 2007, the 500 largest money management firms weathered a second-half spike in financial market volatility to post an 11.8% rise in worldwide institutional assets under management last year - to $27.6 trillion. Internally managed U.S. institutional tax-exempt assets, meanwhile, grew a more modest 4.5% to $11.3 trillion.
The latest gains paled in comparison to the previous year's 14.3% jump in worldwide institutional assets and 15% surge in internally managed U.S. institutional tax-exempt assets, in part because of weaker capital market returns.
In this podcast, P&I's online editor Greg Crawford talks with reporter Douglas Appell, who tells the story behind the numbers.