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Article: Asset managers seek higher returns.(B.E. ASSET MANAGERS)
- Article from:
- Black Enterprise
- Article date:
- June 1, 2009
CopyrightCOPYRIGHT 2009 Earl G. Graves Publishing Co., 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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FOR MOST ASSET MANAGERS, MARKET ACTIVITY IN 2008 WASN'T JUST volatile, it was downright brutal. With the deterioration of several of Wall Street's most venerable institutions--Lehman Bros. and Merrill Lynch among them--and the freezing of credit markets, investors panicked with each trading session.
Part of the story could be told on the BE ASSET MANAGERS list, which has had some of the biggest shifts in its nine- year history. Most of the list's returning firms realized significant declines, including last year's list leader EARNEST Partners L.L.C., which saw its assets under management fall nearly 37%. However, there was one bright spot: Houston-based Smith ...