125 High St., Suite 2700, Boston, Mass. 02110; phone: (617) 946-5200; fax: (617) 330-7481
(U.S. $ millions)
Total discretionary assets11,505
Non-U.S. pension assets1,336
U.S. discretionary tax-exempt assets managed:
Total international/global8,388
International7,202
*Active equity accounts3,455
*Active bond accounts1,702
*Emerging markets298
*Active/passive equity1,747
Global1,186
*Active equity accounts79
*Active bond accounts297
*Balanced810
Minimum separate account25
Baring Asset Management had $7.202 billion in international accounts and
$1.186 billion in global accounts as of March 31.
The firm's asset mix for international accounts was 73% equity, 23% bonds, 4% cash as of March 31; equity assets were committed most heavily to Japan, the United Kingdom, France, Germany and Singapore.
As of the same date, its global account asset mixwas 39% equity, 57% bonds, 4% cash; equity assets were committed most heavily to the United States, Japan, the United Kingdom, France and Singapore.
The firm seeks growing economies and companies at the right local valuation. Primary considerations for the equity process at both the country and stock levels are earnings growth, valuations and liquidity. The bond process focuses on high sustainable real returns while controlling credit and currency risk.
Analysts or portfolio managers are stationed in London, Boston, Hong Kong, Tokyo, Shanghai and Bombay.
The firm, a subsidiary of Baring Asset Management/ING Group, has been registered with the SEC since 1967.
James Williams is chief investment officer; Philip Bullen is client contact.
Batterymarch Financial
Management Inc.
200 Clarendon St., 49th Floor, Boston, Mass. 02116; phone: (617) 266-8300; fax: (617) 266-0633
(U.S. $ millions)
Total discretionary assets4,870
Non-U.S. pension assets1,013
U.S. discretionary tax-exempt assets managed:
Total international/global2,867
International2,867
*Active equity accounts1,509
*Emerging markets1,358
Minimum separate account10
Batterymarch Financial Management Inc. had $2.867 billion in international accounts as of March 31.
The firm's asset mix for international accounts was 98% equity, 2% cash as of March 31; equity assets were committed most heavily to Japan, the United Kingdom, Switzerland, Germany and France.
The firm follows value-oriented strategic themes. It uses bottom-up stock selection with a secondary focus on country selections. It has allocations to EAFE markets and to the most advanced emerging markets. It uses primarily small- and midcap issues.
Analysts or portfolio managers are stationed in Boston.
The firm, a subsidiary of Legg Mason, has been registered with the SEC since 1969.
Tania Zouikin is chief investment officer; F. Jerome Grimm is client contact.
BEA Associates
153 E. 53rd St., New York, N.Y. 10022; phone: (212) 832-2626; fax: (212) 421-0453
(U.S. $ millions)
Total discretionary assets21,801
U.S. discretionary tax-exempt assets managed:
Total international/global1,894
International1,812
*Active equity accounts1,232
*Active bond accounts30
*Emerging markets550
Global82
*Active equity accounts9
*Active bond accounts37
*Balanced36
Minimum separate account20
BEA Associates had $1.812 billion in international accounts and $82 million in global accounts as of March 31.
The firm's asset mix for international accounts was 98.3% equity, 1.7% cash as of March 31; equity assets were committed most heavily to Japan, the United Kingdom, France, Hong Kong and Germany.
As of the same date, its global account asset mix was 94.6% equity, 3.7% bonds, 1.7% cash; equity assets were committed most heavily to the United States, Japan, the United Kingdom, France and Hong Kong.
The firm, a top-down thematic investor, focuses on investment opportunities created by market inefficiencies. It emphasizes country selection.
The firm runs $1.918 billion of U.S. institutional, discretionary tax-exempt assets in currency hedging overlays; $22 million of the underlying assets are managed internally.
Analysts or portfolio managers are stationed in New York.
The firm has been registered with the SEC since 1968.
William W. Priest Jr. is chief investment officer; Timothy T. Taussig is client contact.
Sanford C. Bernstein & Co.
767 Fifth Ave., New York, N.Y. 10153; phone: (212) 486-5800; fax: (212) 756-4405
(U.S. $ millions)
Total discretionary assets28,305
Non-U.S. pension assets297
U.S. discretionary tax-exempt assets managed:
Total international/global2,846
International684
*Active equity accounts684
Global2,162
*Active equity accounts2,005
*Active bond accounts157
Minimum separate account5
Sanford C. Bernstein & Co. Inc. had $684 million in international accounts and $2.162 billion in global accounts as of March 31.
The firm's asset mix for international accounts was 100% equity as of March 31; assets were committed most heavily to Japan, Germany, France, the United Kingdom and Italy.
As of the same date, its global account asset mix was 93% equity, 7% bonds; equity assets were committed most heavily to the United States, Japan, Germany, France and the United Kingdom.
The firm employs a value-oriented style of active management that seeks to exploit security mispricings and the opportunities they create.
Analysts or portfolio managers are stationed in New York.
The firm has been registered with the SEC since 1975.
Andrew S. Adelson is chief investment officer; Harry E. Haynes is client contact.
