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Article: THE LARGEST MANAGERS; Group saw assets rise 18.9% in '06; UBS maintains lead; SSgA, AXA move up; and Allianz falls.(Special Report: World's Top 500 Money Managers)(Company overview)
- Article from:
- Investment News
- Article date:
- October 22, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Beatrix Payne
UBS AG remained the world's largest money manager in terms of assets under management, with $2.45 trillion, to lead the Pensions & Investments/Watson Wyatt Worldwide ranking of the world's 500 largest money managers in 2006.
The Zurich, Switzerland-based firm reported a 21.7% rise in assets under management in 2006, while the 500 firms combined saw an 18.9% increase in assets to $63.7 trillion.
Growth in assets was driven by continued strong equity market performance, while fixed-income gains were lackluster in comparison, said Craig Baker, senior investment consultant and global head of manager research at Watson Wyatt ...