Allianz Takes Crown From UBS German insurer tops the Euro 100, II’s ranking of the region’s leading money managers
The turmoil of the financial crisis has produced some dramatic changes in Europe’s money management industry, enabling German insurer Allianz to displace longtime leader UBS at the top of the Euro 100, Institutional Investor’s exclusive ranking of the region’s largest asset managers.
Allianz grew its assets by 24.8 percent in 2009, to €1.4 trillion, reflecting big gains at its U.S.-
How We Compiled the Euro 100 To compile this ranking, Institutional Investor surveyed banks, insurance companies, pension funds, hedge fund managers, independent fund managers and foreign money management firms with registered offices in Europe. European companies and companies headquartered in Europe (for example, HSBC Global Asset Management) were asked to report global assets under management. Non-European companies were asked to report only European-derived assets (invested domestically or internationally) and non-European assets slated for investment in Europe. Senior Editor Jane B. Kenney and Researchers Emily Kaemmerlen and Valentina McKenzie gathered the data from questionnaires completed by the institutions themselves. This information was supported by annual reports, additional reporting and follow-up faxes and telephone calls.
The numbers are as comparable as possible, considering the different accounting practices in Europe. Assets are stated in euros. In some cases assets at continental European institutions are higher than reported because their accounting rules require that they value assets at the lower of cost or market value. As a result of currency conversion and rounding, not all columns add up. All information is as of December 31 of the respective year.