EUROPE – Munich-based Allianz Dresdner Asset Management (ADAM), with €1,139bn under management, tops the list of Europe’s top 400 asset management firms, according to figures compiled by Investment & Pensions Europe Magazine (IPE) in its first survey of Europe’s €24trn asset management market.

The survey ranks investment management firms operating in the European market by assets under management. IPE believes this is the first time this information has been brought together from a European perspective.

ADAM was created during the merger last summer of insurance company, Allianz and financial services group, Dresdner Bank and includes the activities of US operation PIMCO.

US investment house Fidelity runs ADAM a close second with €1,100bn under management, followed by the major indexed investors, Barclays Global Investors (E911bn), State Street Global Advisors (E758bn) and Vanguard Investments in fifth place with €660bn under management.

Overall Anglo-Saxon asset management groups dominate the list, accounting for over 200 rankings. Germany is next with 29 firms, followed closely by Switzerland with 26.

CDC IXIS Asset Management ranks as France’s number one, with €328bn under management and ING Investment Management is the Netherlands’ top ranked player, with €256bn under management. Altogether, there are 19 French and 26 Benelux firms ranked in IPE’s top 400.

Other prominent markets are the Nordic region (19 firms), Spain and Portugal (19), Italy (14), Ireland (13) and Austria (10).

“IPE drew on a wide range of sources in putting this listing together, in addition to our extensive surveys of the market,” says IPE editor Fennell Betson. “We know we are chasing a moving target in compiling such a list and that there are inevitable gaps and some double counting in the figures. Nonetheless, we believe it is an impressive and useful array of data and information about players of all sizes in the market.”

The IPE European Asset Management supplement is published with the April 2002 edition of IPE magazine and is available now. The survey sought the views of some 800 asset management groups operating in Europe, from which the top 400 were ranked by assets under management to form the centrepiece of the supplement.

Overall, the supplement gives essential data on 450 asset management firms.