December 22, 2008 12:00 AM
P&I/Watson Wyatt world's 300 largest managers
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| P&I/Watson Wyatt world's 300 largest managers | ||||
| Ranked by total assets, in millions, as of Dec. 31, 2007. | ||||
| Rank | Prev. rank* | Manager | Country | Assets |
|---|---|---|---|---|
| 1 | 2 | Barclays Global Investors | U.K. | $2,078,699 |
| 2 | 3 | State Street Global | U.S. | $1,979,000 |
| 3 | 5 | Allianz Group | Germany | $1,956,580 |
| 4 | 4 | AXA Group | France | $1,886,721 |
| 5 | 6 | Fidelity Investments | U.S. | $1,862,145 |
| 6 | 7 | Capital Group | U.S. | $1,549,598 |
| 7 | 8 | Deutsche Bank | Germany | $1,402,153 |
| 8 | 9 | Vanguard Group | U.S. | $1,364,891 |
| 9 | 10 | BlackRock | U.S. | $1,356,644 |
| 10 | 1 | UBS | Switzerland | $1,231,280 |
| 11 | 12 | JPMorgan Chase | U.S. | $1,198,050 |
| 12 | Bank of New York Mellon | U.S. | $1,121,138 | |
| 13 | 14 | Legg Mason | U.S. | $994,336 |
| 14 | 15 | BNP Paribas | France | $954,297 |
| 15 | 16 | ING Group | Netherlands | $946,601 |
| 16 | 17 | Natixis | France | $869,258 |
| 17 | 22 | Goldman Sachs Group | U.S. | $853,264 |
| 18 | 25 | HSBC Holdings | U.K. | $844,000 |
| 19 | 18 | AIG Investments | U.S. | $813,065 |
| 20 | 21 | Northern Trust Global | U.S. | $757,200 |
| 21 | 19 | Credit Agricole | France | $748,054 |
| 22 | 20 | Aviva | U.K. | $727,908 |
| 23 | 28 | Fortis Group | Belgium | $655,758 |
| 24 | 24 | Morgan Stanley | U.S. | $654,549 |
| 25 | 23 | Prudential Financial | U.S. | $647,772 |
| 26 | 29 | Franklin Templeton | U.S. | $643,745 |
| 27 | 30 | Bank of America | U.S. | $643,531 |
| 28 | 27 | Societe Generale | France | $640,101 |
| 29 | 11 | Credit Suisse | Switzerland | $614,000 |
| 30 | 37 | Legal & General Group | U.K. | $590,509 |
| 31 | 26 | Wellington Mgmt. | U.S. | $588,376 |
| 32 | 32 | Generali Group | Italy | $586,280 |
| 33 | 31 | MetLife | U.S. | $558,600 |
| 34 | 35 | Old Mutual | South Africa | $557,050 |
| 35 | 33 | Aegon Group | Netherlands | $546,427 |
| 36 | 39 | Nippon Life Insurance1 | Japan | $519,860 |
| 37 | 38 | MassMutual Financial | U.S. | $505,445 |
| 38 | 36 | Invesco | U.K. | $500,100 |
| 39 | 34 | Prudential | U.K. | $485,896 |
| 40 | 46 | Mitsubishi UFJ Financial1 | Japan | $445,084 |
| 41 | 42 | Rabobank Group | Netherlands | $443,770 |
| 42 | 40 | TIAA-CREF | U.S. | $435,317 |
| 43 | 43 | Sun Life Financial | Canada | $433,497 |
| 44 | 41 | Ameriprise Financial | U.S. | $409,000 |
| 45 | 45 | Manulife Financial | Canada | $404,021 |
| 46 | 93 | Great-West Lifeco | Canada | $401,794 |
| 47 | 47 | T. Rowe Price | U.S. | $400,000 |
| 48 | Intesa SanPaolo | Italy | $390,575 | |
| 49 | 48 | Unicredito Italiano | Italy | $378,505 |
| 50 | 49 | Hartford Financial | U.S. | $371,700 |
| 51 | 44 | Zenkyoren1 | Japan | $364,775 |
| 52 | 54 | DZ BANK | Germany | $355,440 |
| 53 | 51 | Northwestern Mutual | U.S. | $348,747 |
| 54 | 58 | KBC Asset Mgmt. | Belgium | $340,803 |
| 55 | 52 | Wells Fargo | U.S. | $336,200 |
| 56 | 60 | Mizuho Financial Group | Japan | $321,236 |
| 57 | 50 | Zurich Financial Services | Switzerland | $315,693 |
| 58 | 62 | Principal Financial | U.S. | $311,100 |
| 59 | 89 | Samsung Group1 | South Korea | $306,322 |
| 60 | 55 | Dai-ichi Mutual Life1 | Japan | $306,047 |
| 61 | 67 | Federated Investors | U.S. | $296,989 |
| 62 | 63 | ABN AMRO Asset Mgmt. | Netherlands | $290,825 |
| 63 | 53 | Standard Life | U.K. | $285,443 |
| 64 | 104 | Swiss RE | Switzerland | $284,822 |
| 65 | 69 | Lehman Brothers Holdings | U.S. | $280,806 |
| 66 | 66 | Affiliated Managers Group | U.S. | $274,764 |
| 67 | 59 | Evergreen Investments | U.S. | $274,697 |
| 68 | 70 | Meiji Yasuda Life Insurance | Japan | $273,000 |
| 69 | 64 | Schroder Investment | U.K. | $272,640 |
| 70 | 65 | MEAG Munich ERGO | Germany | $266,586 |
| 71 | 68 | Sumitomo Trust & Banking2 | Japan | $263,829 |
| 72 | 81 | Caisse de Depot et Placement | Canada | $261,153 |
| 73 | 88 | DGZ Dekabank | Germany | $260,928 |
| 74 | 78 | Nomura Holdings | Japan | $255,474 |
| 75 | 85 | Pictet & Cie. | Switzerland | $250,000 |
| 76 | 73 | Lloyds TSB | U.K. | $245,270 |
| 77 | 56 | Charles Schwab Investment | U.S. | $239,497 |
| 78 | 76 | Dodge & Cox | U.S. | $235,172 |
| 79 | 71 | New York Life Invest. Mgmt. | U.S. | $234,441 |
| 80 | 77 | Nordea | Denmark | $231,237 |
| 81 | 57 | Shinkin Central Bank1 | Japan | $227,172 |
| 82 | 91 | Sal. Oppenheim Jr. | Germany | $223,873 |
| 83 | 82 | Sumitomo Life Insurance1 | Japan | $223,218 |
| 84 | 72 | Banco Santander Central | Spain | $222,367 |
| 85 | 87 | BBVA | Spain | $222,072 |
| 86 | 84 | Insight Investment | U.K. | $218,766 |
| 87 | 90 | SEB | Sweden | $214,076 |
| 88 | 96 | Janus Capital Group | U.S. | $206,706 |
| 89 | 80 | F&C Asset Mgmt. | U.K. | $206,147 |
| 90 | 103 | Aberdeen Asset Mgmt. | U.K. | $204,783 |
| 91 | Chuo Mitsui Trust1 | Japan | $203,491 | |
| 92 | 116 | Commerzbank | Germany | $200,602 |
| 93 | 83 | GE Asset Mgmt. | U.S. | $189,694 |
| 94 | 111 | TD Asset Mgmt. | Canada | $169,337 |
| 95 | 121 | EFG Group | Switzerland | $167,902 |
| 96 | 101 | Nuveen Investments | U.S. | $164,300 |
| 97 | 94 | General Motors Asset Mgmt. | U.S. | $164,180 |
| 98 | 113 | Royal Bank of Canada | Canada | $161,875 |
| 99 | 112 | Eaton Vance3 | U.S. | $161,700 |
| 100 | 106 | Dexia Asset Mgmt. | Belgium | $160,420 |
| 101 | 102 | T&D Holdings | Japan | $159,466 |
| 102 | 100 | Resona Trust & Banking | Japan | $158,340 |
| 103 | 107 | Lombard Odier Darier Hentsch | Switzerland | $156,000 |
| 104 | 98 | Lincoln National | U.S. | $152,774 |
| 105 | 115 | Dimensional Fund Advisors | U.S. | $152,550 |
| 106 | 105 | Grantham, Mayo v. Otterloo | U.S. | $152,243 |
| 107 | 95 | Bridgewater Associates | U.S. | $147,430 |
| 108 | 129 | Colonial First State | Australia | $144,899 |
| 109 | 124 | Lazard | U.S. | $141,413 |
| 110 | 119 | Life Insurance of India1 | India | $141,235 |
| 111 | 134 | Universal-Investment4 | Germany | $134,290 |
| 112 | 97 | Sumitomo Mitsui Insurance1 | Japan | $133,864 |
| 113 | 109 | Daiwa Securities Group1 | Japan | $133,789 |
| 114 | 127 | Groupama | France | $129,402 |
| 115 | 92 | SEI Investments | U.S. | $129,000 |
| 116 | 126 | Banco Sabadell | Spain | $127,517 |
| 117 | 130 | IGM Financial Group | Canada | $125,363 |
| 118 | 143 | Banco do Brazil | Brazil | $124,279 |
| 119 | 141 | Danske Bank | Denmark | $123,012 |
| 120 | 145 | Banco Itau Holding | Brazil | $122,903 |
| 121 | 131 | Credit Mutuel | France | $122,541 |
| 122 | 117 | Henderson Global Investors | U.K. | $117,784 |
| 123 | 118 | Resolution | U.K. | $114,508 |
| 124 | 120 | Brandes Investment | U.S. | $111,682 |
| 125 | 122 | Lord, Abbett | U.S. | $110,202 |
| 126 | 99 | Swiss Life Group | Switzerland | $109,651 |
| 127 | 114 | Nationwide Financial | U.S. | $109,387 |
| 128 | 142 | Macquarie Bank Group | Australia | $107,855 |
| 129 | 138 | Baillie Gifford | U.K. | $107,363 |
| 130 | 132 | FAF Advisors | U.S. | $107,045 |
| 131 | 136 | DnB NOR | Norway | $105,854 |
| 132 | 133 | Davis Advisors | U.S. | $105,161 |
| 133 | 137 | Tokio Marine & Nichido Fire5 | Japan | $103,254 |
| 134 | Blackstone Group | U.S. | $102,430 | |
| 135 | 128 | American Century | U.S. | $102,352 |
| 136 | 139 | Zurcher Kantonalbank | Switzerland | $99,187 |
| 137 | 110 | AMP | Australia | $97,564 |
| 138 | 146 | Talanx Group | Germany | $96,766 |
| 139 | 61 | Julius Baer Holding | Switzerland | $96,683 |
| 140 | 125 | Investec Group1 | South Africa | $96,634 |
| 141 | 153 | Brookfield Asset Mgmt. | Canada | $95,000 |
| 142 | 164 | Swedbank | Sweden | $94,694 |
| 143 | 192 | Mn Services | Netherlands | $94,102 |
| 144 | 135 | Nikko Asset Mgmt. | Japan | $87,451 |
| 145 | 186 | Reserve Mgmt. | U.S. | $86,747 |
| 146 | 155 | Mirae Asset Financial Group | South Korea | $86,732 |
| 147 | 156 | Banco Bradesco | Brazil | $86,103 |
| 148 | 144 | KeyCorp | U.S. | $85,442 |
| 149 | 158 | Caixa Catalunya Group | Spain | $82,620 |
| 150 | 148 | Regions Financial | U.S. | $80,000 |
| 151 | 170 | National Australia Bank2 | Australia | $79,118 |
| 152 | Mitsui Life Insurance1 | Japan | $78,842 | |
| 153 | 163 | Geode Capital Mgmt. | U.S. | $78,026 |
| 154 | UBI Banca | Italy | $76,929 | |
| 155 | 150 | RidgeWorth Capital | U.S. | $76,199 |
| 156 | 166 | Bank Sarasin | Switzerland | $73,700 |
| 157 | 198 | Queensland Investment | Australia | $73,609 |
| 158 | 154 | LSV Asset Mgmt. | U.S. | $73,209 |
| 159 | PNC Financial | U.S. | $73,000 | |
| 160 | 167 | Man Investments | U.K. | $71,700 |
| 161 | 286 | Korea Investment Holdings1 | South Korea | $71,266 |
| 162 | 173 | Royal Bank of Scotland | U.K. | $70,106 |
| 163 | 172 | Phillips, Hager & North | Canada | $69,814 |
| 164 | 108 | Hermes | U.K. | $69,721 |
| 165 | 152 | Bank of Ireland | Ireland | $68,838 |
| 166 | 178 | CIBC Group | Canada | $66,747 |
| 167 | 149 | Sanlam | South Africa | $66,470 |
| 168 | Banco Popolare Società | Italy | $66,352 | |
| 169 | 157 | BCV | Switzerland | $66,182 |
| 170 | 165 | Royal London Group | U.K. | $66,165 |
| 171 | 182 | Mapfre | Spain | $66,013 |
| 172 | 191 | Waddell & Reed | U.S. | $64,868 |
| 173 | 179 | Mondrian Investment | U.K. | $64,338 |
| 174 | 162 | PRIMECAP | U.S. | $63,717 |
| 175 | 159 | MBIA Asset Mgmt. | U.S. | $63,340 |
| 176 | 171 | Raiffeisen Capital | Austria | $61,664 |
| 177 | 169 | American Beacon Advisors | U.S. | $60,928 |
| 178 | 206 | Union Bancaire Privee | Switzerland | $58,701 |
| 179 | 188 | IDUNA Group | Germany | $58,325 |
| 180 | 174 | Jarislowsky Fraser | Canada | $57,278 |
| 181 | 175 | Payden & Rygel | U.S. | $57,004 |
| 182 | 190 | Erste-Sparinvest | Austria | $56,263 |
| 183 | 185 | Swisscanto | Switzerland | $55,829 |
| 184 | 184 | Artisan Partners | U.S. | $55,458 |
| 185 | 123 | BMO Financial Group | Canada | $55,376 |
| 186 | 207 | Record Currency | U.K. | $54,812 |
| 187 | 187 | Gartmore | U.K. | $54,161 |
| 188 | 177 | Asahi Mutual Life Insurance | Japan | $53,003 |
| 189 | 232 | Thornburg Investment | U.S. | $52,923 |
| 190 | 228 | Oaktree Capital | U.S. | $52,143 |
| 191 | 216 | Irish Life & Permanent Group | Ireland | $52,065 |
| 192 | 288 | Wilshire Funds Mgmt. | U.S. | $51,580 |
| 193 | 193 | Cathay Life Insurance1 | Taiwan | $51,282 |
| 194 | 200 | Mediolanum | Italy | $50,958 |
| 195 | 199 | LaSalle Investment | U.S. | $50,454 |
| 196 | 204 | STANLIB | South Africa | $50,337 |
| 197 | 220 | Metzler Seel Sohn | Germany | $50,007 |
| 198 | 180 | Hanwha Group | South Korea | $49,590 |
| 199 | 208 | William Blair | U.S. | $48,982 |
| 200 | 189 | FirstRand Group6 | South Africa | $48,916 |
| 201 | 210 | Versicherungskammer Bayern | Germany | $48,851 |
| 202 | 209 | Helaba Group | Germany | $48,423 |
| 203 | 183 | Sompo Japan Insurance1 | Japan | $47,918 |
| 204 | 181 | Fukoku Mutual Life Insurance1 | Japan | $47,818 |
| 205 | 197 | Calamos Advisors | U.S. | $46,208 |
| 206 | 213 | OP Bank Group | Finland | $46,100 |
| 207 | 214 | New Star Asset Mgmt. | U.K. | $45,894 |
| 208 | 235 | Warburg Group | Germany | $44,922 |
| 209 | 211 | Marathon Asset Mgmt. | U.K. | $44,912 |
| 210 | 196 | Arca SGR | Italy | $44,220 |
| 211 | 168 | Vontobel Group | Switzerland | $44,152 |
| 212 | 147 | La Poste5 | France | $43,939 |
| 213 | 205 | Arnhold & S. Bleichroeder | U.S. | $43,879 |
| 214 | 202 | Brown Brothers Harriman | U.S. | $43,873 |
| 215 | 221 | Commonfund | U.S. | $43,082 |
| 216 | 195 | Phoenix Cos. | U.S. | $42,548 |
| 217 | 218 | Monte dei Paschi di Siena | Italy | $42,412 |
| 218 | 219 | Southeastern Asset Mgmt. | U.S. | $42,143 |
| 219 | 230 | Storebrand Group | Norway | $42,075 |
| 220 | 224 | McLean Budden | Canada | $41,975 |
| 221 | Jupiter | U.K. | $41,282 | |
| 222 | 203 | La Caixa | Spain | $41,249 |
| 223 | 251 | Les Mutuelles du Mans | France | $39,625 |
| 224 | 223 | Highland Capital (Texas) | U.S. | $39,521 |
| 225 | 243 | Desjardins Group | Canada | $39,316 |
| 226 | 244 | Bank Degroof2 | Belgium | $39,247 |
| 227 | 249 | Connor, Clark & Lunn | Canada | $38,281 |
| 228 | 246 | NISA Investment | U.S. | $37,931 |
| 229 | 234 | Caja Madrid | Spain | $37,899 |
| 230 | 278 | Caixa Economica Federal | Brazil | $37,895 |
| 231 | 255 | CB Richard Ellis Investors | U.S. | $37,845 |
| 232 | 236 | Westpac2 | Australia | $37,628 |
| 233 | 261 | City National | U.S. | $37,269 |
| 234 | 238 | Raymond James Financial2 | U.S. | $37,110 |
| 235 | 248 | Boston Private Financial | U.S. | $36,565 |
| 236 | 270 | Ashmore Investment | U.K. | $36,500 |
| 237 | St. James's Place | U.K. | $36,351 | |
| 238 | 239 | Caixa Gestao de Activos | Portugal | $36,054 |
| 239 | 240 | Wilmington Trust | U.S. | $35,712 |
| 240 | 253 | Bayerischen Landesbank | Germany | $35,384 |
| 241 | 237 | AQR Capital Mgmt. | U.S. | $35,100 |
| 242 | 254 | Allan Gray | South Africa | $34,402 |
| 243 | Baloise Asset Mgmt. | Switzerland | $34,342 | |
| 244 | China Asset Mgmt. | China | $34,028 | |
| 245 | 266 | Caja Espana | Spain | $33,924 |
| 246 | 280 | Industrial Alliance, Insurance | Canada | $33,428 |
| 247 | 231 | Fifth Third Bancorp | U.S. | $33,400 |
| 248 | 250 | Gothaer | Germany | $33,139 |
| 249 | 257 | Munder Capital | U.S. | $32,969 |
| 250 | 245 | Fort Washington | U.S. | $32,450 |
| 251 | 225 | Fayez Sarofim | U.S. | $32,446 |
| 252 | 281 | Greystone Managed | Canada | $32,254 |
| 253 | 272 | PFM Asset Mgmt. | U.S. | $32,206 |
| 254 | 256 | Perpetual | Australia | $31,821 |
| 255 | 260 | Uniqa Finanz Group | Austria | $31,731 |
| 256 | 241 | Smith Breeden | U.S. | $31,634 |
| 257 | 271 | HUK Coburg | Germany | $31,567 |
| 258 | 276 | Martin Currie | U.K. | $31,340 |
| 259 | Unibanco | Brazil | $31,060 | |
| 260 | 259 | GAMCO Investors | U.S. | $31,013 |
| 261 | 212 | Bear Stearns Asset Mgmt. | U.S. | $30,545 |
| 262 | Boshi Fund Mgmt. | China | $30,379 | |
| 263 | 252 | Allegiant Asset Mgmt. | U.S. | $30,333 |
| 264 | 295 | Mesirow Financial | U.S. | $30,057 |
| 265 | 273 | BB&T | U.S. | $30,023 |
| 266 | 247 | Cohen & Steers | U.S. | $29,786 |
| 267 | 292 | Wiener Stadtische | Austria | $29,709 |
| 268 | Northern Cross | U.S. | $29,538 | |
| 269 | 298 | SNS Asset Mgmt. | Netherlands | $29,408 |
| 270 | 287 | Addenda Capital | Canada | $29,296 |
| 271 | 291 | Turner Investment | U.S. | $29,119 |
| 272 | 267 | National Bank of Canada | Canada | $28,440 |
| 273 | Petercam | Belgium | $28,412 | |
| 274 | 262 | DuPont Capital | U.S. | $28,380 |
| 275 | Harvest Fund Mgmt. | China | $28,377 | |
| 276 | Berenberg Bank | Germany | $28,100 | |
| 277 | SCOR | France | $28,017 | |
| 278 | 269 | Oddo et Cie | France | $27,984 |
| 279 | 285 | Nurnberger | Germany | $27,819 |
| 280 | 227 | Hotchkis & Wiley | U.S. | $27,693 |
| 281 | 258 | Aronson + Johnson + Ortiz | U.S. | $27,377 |
| 282 | E Fund Mgmt. | China | $26,968 | |
| 283 | 268 | ESAF6 | Portugal | $26,950 |
| 284 | 263 | Gruppo Bipiemme | Italy | $26,600 |
| 285 | 275 | Royal & SunAlliance | U.K. | $26,520 |
| 286 | China Southern Fund | China | $26,454 | |
| 287 | 289 | Grupo Banco Popular | Spain | $26,442 |
| 288 | 297 | M & I Investment | U.S. | $25,678 |
| 289 | Arrowstreet Capital | U.S. | $25,516 | |
| 290 | 293 | Gruppo Bancario Emiliano | Italy | $25,280 |
| 291 | Kaupthing Bank Group | Iceland | $25,012 | |
| 292 | Alte Leipziger Holding | Germany | $24,959 | |
| 293 | Renaissance Technologies | U.S. | $24,894 | |
| 294 | 296 | Ohio National | U.S. | $24,700 |
| 295 | LBBW | Germany | $24,600 | |
| 296 | 265 | 40/86 Advisors | U.S. | $24,585 |
| 297 | Metropolitan West Asset | U.S. | $24,471 | |
| 298 | Gulf International Bank | U.K. | $24,100 | |
| 299 | 290 | NFU Mutual | U.K. | $24,092 |
| 300 | Research Affiliates | U.S. | $23,813 | |
| * Previous rank is from the 2007 P&I Databook, Dec. 24, 2007, non-adjusted for retroactive corrections. Footnotes: 1As of March 31, 2008; 2As of Sept. 30, 2007; 3As of Oct. 31, 2007; 4As of June 30, 2008; 5As of May 31, 2008; 6As of June 30, 2007 | ||||
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