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Article: Manager assets up 11.8; Outsourcing, sovereign fund inflows help firms withstand second-half turmoil.(Money Management)
- Article from:
- Pensions & Investments
- Article date:
- May 26, 2008
- Author:
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Copyright informationCOPYRIGHT 2008 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: Douglas Appell
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 $27.5 trillion, Pensions & Investments' annual money manager survey shows.
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.
For example, the Russell 3000 index rose ...
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