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Article: Money management firms: ranked by assets managed as of Dec. 31.(THE LIST)(Company rankings)
- Article from:
- Los Angeles Business Journal
- Article date:
- June 2, 2008
- Author:
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Copyright informationCOPYRIGHT 2008 CBJ, L.P. 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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* EXECUTIVE SUMMARY
THE 25 largest money management firms in L.A. County saw assets under management grow to $2.3 trillion as of Dec. 31, up $160 billion compared with the prior year.
No. 1 Capital Research and Management Co. and its sister company, No. 4 Capital Guardian Trust Co., accounted for more than half of the assets. The companies manage $1.4 trillion combined, although Capital Guardian Trust Co. reported a $34 billion decline in assets compared with 2006.
Most of the firms listed saw assets increase despite declines in equity and real estate markets domestically. Although return on assets may be lower than previous years, the companies saw assets grow ...