InterSec 250 rankings 1 to 50 and 101 to 250
InterSec 250: Foreign-owned, operating under a different name
At the end of 1997, the InterSec ranking shows the total assets under management by the top 250 managers domiciled outside the US to be $13.7 trillion. This represents only marginal growth over last year but, given the dollar's strength, and the exclusion of US-based managers, it is perhaps more remarkable that there has been any increase at all.
The proportion of funds managed from outside the domicile of the parent company has increased from 22% to 25%, indicating the continued rapid internationalization of the investment-management industry. A number of related trends contribute to this.
First, institutions have continued to buy and establish foreign subsidiaries. Second, in some cases asset management is becoming more decentralized with business moving to regional centres. Third, much asset management is converging on major centres (such as London) which may be outside the domicile of a group's headquarters. Fourth, management of funds is being outsourced to foreign managers (though some of this may not be declared, understating the total).
Excluding Japanese companies from the figures raises the foreign-managed percentage to 34%, again a significant increase over last year's figure.