Barclays Global Investors
- Barclays Global Investors
Barclays Global Investors is an investment management subsidiary of U.K.–based Barclays Bank. It is the largest corporate money manager in the world, with over £1.04 trillion (US$2.08 trillion) under management as of October 2007.[BGI site [http://www.barclaysglobal.com/about/index.jhtml "About us" page] , as of December 2007] The division is headquartered in San Francisco]The firm's chief executive is Blake Grossman.
History
Barclays Global Investors began as units of Wells Fargo Nikko and Barclays Bank which merged in 1996. It invented the first passive index investing strategy for major institutional investors under the leadership of Frederick L. A. Grauer. Later, it went on to help pioneer the exchange-traded fund business (through its iShares brand), which is a security that can be traded at any time, and whose value is based on the value of a basket of stocks, bonds or commodities. ETFs can give tax advantages and intraday trading mechanical benefits that other products such as mutual funds do not. Since the economics of indexed fund management are heavily influenced by economies of scale, Barclays grew to be the largest asset managing company in the world.
Since 2000, Barclays Global Investors' active fund management business has grown significantly, to the point where it accounted for approximately 50% of the firm's revenue in 2006.
Because the company is the largest asset manager, it is also the largest privately-held beneficial owner of companies in the world.
References
See also
*Barclays plc
*Barclays Capital
*Investment management
External links
* [http://www.barclaysglobal.com/ Official site]
* [http://www.ishares.com/ Official US iShares site]
* [http://www.ishares.net/ Official European iShares site]
* [http://www.ishares.ca/ Official Canadian iShares site]
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