The II 300
With $3.6 trillion in assets, BlackRock towers over the II300, Institutional Investor’s annual ranking of the 300 biggest U.S. money managers. For BlackRock, like many of the largest managers on the II300, success is no longer a purely American story. The New York–based firm is also significant a manager of non-U.S. securities; fully 42 percent of its money is invested outside the U.S. Similarly, Los Angeles’s Capital Group Cos., sponsor of the ubiquitous American Funds family and No. 7 on the II300, with $1.2 trillion, has 38.1 percent of its assets outside the U.S. San Mateo, California–based Franklin Templeton Investments, No. 11, with $670.7 billion, has 55.3 percent of its assets in non-U.S. markets.One of the keys to going global is figuring out how to crack China and profit from its appealing demographics. Atlanta-¬based Invesco — which moves up three spots to No. 15, with $616.5 billion in assets after its June 2010 acquisition of Morgan Stanley’s retail businesses, including Van Kampen Investments — has had a presence in China since 2003 through a Shenzhen-¬based joint venture called Invesco Great Wall Fund Management Co.
Picking the teamThe II 300 ranks America’s largest money managers by assets under management. In conformity with the traditional view of the money management business, assets are defined as discretionary assets under management for the account of customers for which an organization has contractual authority to make buy and sell decisions. We ask firms to report assets under management for their entire organization--including subsidiaries. The ranking includes insurance companies, banks, investment management firms, internally managed pension funds, mutual fund companies and hedge funds. Domestic and non-U.S. equities include convertibles. ADR’s are included in non-U.S. equities. Domestic and non-U.S. fixed income include preferred stock and mortgage backed securities. Real estate includes debt and equity. Alternative investments may include derivatives, venture capital, oil & gas, timberland, and hedge fund investments. Tax-exempt assets represent assets from tax-exempt sources, such as pension funds, foundations and endowments. The rankings were compiled by Researchers Emily Kaemmerlen and Valentina McKenzie under the supervision of Senior Editor Jane B. Kenney.