IPE publishes Top 400 European asset managers
EUROPE - IPE has today published its 2004 ranking of the Top 400 asset managers active in the multi trillion-euro European marketplace, with Allianz, Fidelity and State Street Global Advisors retaining their top three places.
"The past year has seen assets under management reported by the Top 400 managers participating in IPE's annual European Asset Management Leaders survey rise to 24 trillion euros, up a mere two trillion euros on the amount asset managers said that had in their hands in 2003," said IPE Editor Fennell Betson.
"This is a welcome benchmark of progress, and shows we are in better times, but certainly not in boom times - yet!"
Germany's AllianzDresdner Asset Management tops the list and is the only manager ranked with more than a trillion euros under management.
Fidelity International and SSGA remain second and third, with 908 billion euros and 877 billion euros under management respectively.
Houses on the rise in the top 10 include Barclays Global Investors, at fourth (5th in 2003) and Vanguard Group at fifth (7th). Citigroup Asset Management is up to ninth from 10th last year.
Deutsche Asset Management has slipped to sixth from last year's fourth while Mellon Global Investments is down to seventh from sixth. J P Morgan Fleming Asset Management is at eighth (9th) and Merrill Lynch enters the top 10 in tenth slot.
A feature of this year's listing is the growth in socially responsible investing. The 50 SRI specialist firms account for 208 billion euros in assets under management. Seventy of the 400 managers said they are active in this area.
Other specialist ranking topics include: currency overlay, hedge funds and fund-of-funds, tactical asset allocation, private equity and real estate. And the list also includes country leaders as well.
The tables were compiled from extensive questionnaires sent to asset managers known to be active in the European marketplace earlier this year. The listing is currently being mailed and readers should receive it this week.