JPMorgan Jumps To No. 2 U.S. Hedge Fund Manager For AUM

Sep 30 2006 | 9:05am ET

While other banks have struggled to expand their footholds in alternative investments, JPMorgan Chase has zoomed to near the top of the pile. Riding an 80% jump in assets under management from a year ago, JPMorgan is now the second-largest hedge fund manager in the U.S., behind only Goldman Sachs, according to Absolute Return magazine.

Last year, it ranked 12th; this year, it is one of only three banks (Barclays finished 10th) in the top ten.

Part of JPMorgan’s success is attributed to Highbridge Capital Management, which the bank acquired in 2004 and has seen its assets rise from $7 billion to $12 billion in that time. But the bulk of the growth has been in JPMorgan’s 38 hedge funds, which doubled in size over the last year to $12.6 billion.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of