SWITZERLAND - Credit Suisse remains the largest manager of Swiss institutional assets, with 60% more assets under management than its nearest competitor, according to a new survey by IPE.
The company again came first in a ranking of largest asset managers, a position it has held since 2007, ahead of rivals BlackRock and UBS.
A total of 43% of assets, or €137.4bn, were managed on behalf of Swiss organisations by Credit Suisse, accounting for a quarter of respondents’ assets.
The company’s Swiss assets increased by over €26bn from the previous year, and almost €55bn compared to 2008.
UBS Global Asset Management ranked second, with €54bn in Swiss holdings, increasing by more than €15bn since 2009. BlackRock came third, increasing its share of the market by €35bn to €48.8bn overall.
The list of top five managers concluded with AXA Investment Managers with €46.1bn, as well as Pictet Asset Management with €42bn, seeing a slight improvement of €2bn from the previous year.
Other managers also showed significant asset increases. Lombard Odier Darier Hentsch almost doubled their assets held to €10.3bn from €5.7bn the previous year, while LGT Capital Partners’ assets nearly tripled to €1.9bn.
The 2010 survey results were based on the responses of 67 managers with combined assets under management of €539.9bn for Swiss institutions, an increase of €96.7bn since 2009 and €199bn since 2008.
The complete survey will be published in December’s edition of IPE.