Fundsters may not be surprised to hear that Pimco Funds
has enjoyed the largest growth in AUM in the last two years among firms with at least $50 billion under management, according to Fuse Research Network
. Among firms holding $5 billion to $50 billion, ProShares/ProFunds
comes out on top. The period measured was October 2007 (market peak) to August 2009.
Pimco was in fact one of only three large firms to actually grow in that period. Pimco's 45.4 percent increase dwarfed second-place State Street Global Advisors
' 17.5 percent and JPMorgan
's 1.7 percent. In addition, of the 32 large firms, only Pimco experienced an AUM increase between October 2007 (peak) and February 2009 (trough), at 11.2 percent. The average decrease in the large firm group between October 2007 and August 2009 was 20.8 percent, while the average decrease to February 2009 was 42.4 percent.
Among the 90 firms with $5 billion to $50 billion in AUM, 13 were able to increase assets from October 2007 to August 2009. ProFunds/ProShares led the way, more than doubling its business with 117 percent growth. Old Westbury
took second with an 86.5 percent increase, and Fairholme
took third with a 47.3 percent positive change.
On average, however, the medium-sized firms did worse than their larger peers, facing a 44.7 percent drop from peak to trough, and a 24 percent drop from peak to August 2009.
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