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State Street Global Advisors has topped GMM's 2006 manager league tables with USD59.519 billion in net new assets gained from non-U.S. institutions. The manager stepped up from second place in 2005 when it brought in USD46.943 billion in new mandates. Its largest recorded mandate was a global currency overlay brief worth USD1.977 billion awarded by J. Sainsbury Plc. Pension Schemes last April.
2006 Manager Ranking By Assets Gained
Rank__ Manager Name__ Wins__ (USD) Ms
1__ State Street Global Advisors__ 405__ 59,519
2__ AXA Rosenberg__ 101__ 11,282
3__ AllianceBernstein Institutional Investment Management__ 45__ 9,872
4__ Record Currency Management__ 17__ 9,115
5__ AlpInvest Partners__ 2__ 7,774
Barclays Global Investors still managed to win 243 accounts worth USD6.968, earning it sixth place--down from first in 2005 when it brought in USD47.863 billion. The drop in mandates gained was partly due to pension funds switching to active management from passive. Last May the manager lost a GBP402 million passive multi-asset brief from Leicestershire County Council Pension Fund and in August lost a pair of passive mandates from the Southwark pension fund and the University of Oxford Staff Pension Scheme.
AXA Rosenberg has shot up to second place this year with 101 wins worth USD11.282 billion, having placed 31st with eight recorded wins worth USD1.049 billion in 2005. The majority of its account wins were in global, European and EAFE active
equity.
With 45 mandates recorded, AllianceBernstein Institutional Investment Management still managed to place third with USD9.872 billion. Its wins indicate increased interest in global and include a global bond brief from China's National Council for Social Security Fund (GMM, 29/11), a global value equity brief from South Africa's Sasol (GMM, 26/10) and two global equity mandates--one value and one growth--from the London Borough of Southwark Superannuation Fund (GMM, 21/9).
Keeping It In The Family
With just eight mandate wins Hermes Pensions Management still managed to place eighth with USD6.162 billion in assets gained--a huge jump from 43rd place in 2005 when it gained USD825. Of course, over USD5.4 billion of that sum came via its parent, BT Pension Scheme, in the form of a hedge fund mandate worth USD2.076 billion, a USD1.977 billion commodities brief and a USD1.384 billion private equity account. And Transamerica Investment Management, a U.S.-based...