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Article: Assets plummet 21%, worst in 30 years; Annual P&I survey also finds market volatility spurs changes in rankings of the nation's largest managers.
- Article from:
- Pensions & Investments
- Article date:
- May 18, 2009
CopyrightCOPYRIGHT 2009 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 suffered a 21% plunge last year in worldwide institutional assets to $21.364 trillion, Pensions & Investments' annual money manager survey shows.
And in a year where key domestic and international equity indexes plunged between 37% and 43%, the survey showed internally managed U.S. institutional tax-exempt assets dropping 23% to $8.452 trillion.
(Capital Research & Management Co. did not supply data for the latest survey, and the firm's totals were deducted from the prior year's numbers for the year-on-year comparisons.)
The unprecedented volatility of capital markets during ...