Fairly awe-inspiring growth in AUM (assets under management) during 2006 at the U.S.’s 300 largest money managers. Up 16.9% year-over-year, these firms collectively added roughly three-quarters of a million dollars in assets every working second last year.
Makes you feel like you were really slacking, doesn’t it.
For a third year in a row, San Francisco-based Barclays Global Investors tops the II 300, with assets of $1.81 trillion. â€œOur business was strong in 2006, with net new asset growth of approximately $68 billion,â€ CEO Blake Grossman tells II.
Bostonâ€™s State Street Global Advisors returns in second place, with $1.74 trillion under management. State Street gained more money – $307.2 billion â€“ than any other firm in the ranking except New York-based BlackRock, which zooms from 16th place last year to fifth place in this yearâ€™s II 300, thanks in part to its acquisition of Merrill Lynch Investment Managers last September.
The top five firms in this yearâ€™s II 300, their 2005 rank, and their assets under management as of December 31, 2006, are:
1 1 Barclays Global Investors $1.81 trillion
2 2 State Street Global Advisors $1.74 trillion
3 4 Capital Group Cos. $1.40 trillion
4 3 Fidelity Investments $1.38 trillion
5 16 BlackRock
[via II Magazine]