With the recent collapse we witnessed several major investment company giants collapse, or get swallowed up by other banks or investment companies. Having said that, a few of the big dogs that survived the crisis include State Street, Fidelity, and Vanguard in the United States. Companies such as Merill Lynch (they own Black Rock too) whom was recently acquired by Bank of America is still operating, but only because the government more or less forced BOA to acquire them with TARP funds. So, when considering who you want to work with – or whom you want handling your money – deeply consider their history, as some are much better than others. Below is a list of many more (including those above) you may be interested to research further in order of their size of assets (in millions) managed (not all are mentioned here, for example T. Rowe Price), rather the largest across the globe.
1. UBS AG – according to its website (31.03.09) 2059 Switzerland
2. Barclays Global Investors 1,400 UK
3. State Street Global Advisors 1,367 US
4. Fidelity Investments 1,299 US
5. The Vanguard Group 852 US
6. JPMorgan Chase 782 US
7. Capital Group 757 US
8. Deutsche Bank 723 Germany
9. Northern Trust 598 US
10. AllianceBernstein 516 US
11. Wellington Management Company 484 US
12. Merrill Lynch & Co. 473 US
13. Credit Agricole 461 France
14. Goldman Sachs 452 US
An investment company is a company whose main business is holding securities of other companies purely for investment purposes. The investment company invests money on behalf of its shareholders who in turn share in the profits and losses.
In United States securities law, there are at least three types of investment companies :
* Open-End Management Investment Companies (mutual funds)
* Closed-End Management Investment Companies (closed-end funds)
* UITs (unit investment trusts)
A fourth and lesser-known type of investment company under the Investment Company Act of 1940 is a Face-Amount Certificate Company.