EUROPE - Barclays Global Investors ranks first in terms of European pension fund assets under management, according to Mercer Human Resource Consulting. The UK/US based fund manager has a total of 147.9 billion euros in segregated and pooled European pension fund assets.
In its “European Pension Fund Managers Guide 2002”, Mercer finds eight of the top 10 managers in 2001 were also in the top 10 the previous year, although the order has changed a lot.
While BGI retained its position of first place, German Deutsche Asset Management moved up from fourth to second place, with a total of 102 billion euros in European pension fund assets under management. Deutsche replaces Merrill Lynch Investment Managers, which drops to fifth place.
In third place sits UK-based Legal and General with 98.3 billion euros, and in fourth place, Switzerland’s Credit Suisse Asset Management (CSAM) with 84.8 billion euros. The acquisition of the Sun Life Canada investment business pushed CSAM up from 18th place in 2000.
In terms of region, France’s largest pension fund manager in terms of total assets under management is CDC Ixis AM with 17 billion euros in French pension assets, followed by AGF AM with 8.4 billion euros. In the Nordic regions, Nordea IM, Danske Capital and Carlson IM dominated the domestic pension markets.
In the Netherlands, F&C Management Ltd manages the majority of Dutch pension assets. totalling 36.7 billion euros, and in Belgium, Fortis IM with 3.7 billion euros in Belgian pensions assets.
In Spain and Portugal, BBVA Pensiones, and Pensoesgere ranked top for their countries pension funds respectively. Raiffeisen KaG is the leading Austrian pension fund asset manager with 4 billion euros, and in Ireland, Bank of Ireland Asset Management with 13.7 billion euros in Irish pension funds under management.
In Italy CSAM and Deutsche AM control the largest amounts of Italian pension assets managed.
Data for the guide was supplied by 180 fund managers from 18 countries, serving clients in 31 European countries, and is current as at 31 December 2001.