MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, August 6, 2002 Head of the Class Frank Russell Company has been named the largest global manager-of-managers in Cerulli Associates' July 2002 report, The International Multimanager Marketplace, according to Frank Russell. The Cerulli Report states that "multimanager products (including fund-of-funds) are one of the fastest-growing sub segments of the asset management industry." In addition, the report says that multi-manager assets under management globally totaled $489 billion at year-end 2001 and have grown at a compound annual growth rate of 15% since year-end 1999. According to the report, "over the same period, mutual fund assets worldwide were nearly flat; and the global asset management industry grew at a stunted 3% CAGR." "The strong growth in the multi-manager segment in the past three years is not surprising," stated Mike Phillips, chairman and ceo of the company. "The market environment has taught some tough lessons about risk and strategic diversification to individual and institutional investors alike. Investors everywhere are realizing that having a single investment manager run your money is as strange as having a single stock in your portfolio." "The strong growth in the multi-manager segment in the past three years is not surprising," he added. "The market environment has taught some tough lessons about risk and strategic diversification to individual and institutional investors alike. Investors everywhere are realizing that having a single investment manager run your money is as strange as having a single stock in your portfolio." Printed from: MFWire.com/story.asp?s=3261 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |