3 ms·
Where does this funny number come from? >by an investment fund called State Street Global Advisors, which has assets in excess of US$2.4 trillion. This doesn'
by logicallee 10y ago
Where does this funny number come from?
>by an investment fund called State Street Global Advisors, which has assets in excess of US$2.4 trillion.
This doesn't seem like it can be correct. What does this number represent?
- icebraining 10y agoIt represents the money they manage on behalf of their clients. https://en.wikipedia.org/wiki/Assets_under_management https://en.wikipedia.org/wiki/Assets_under_management
- bboreham 10y agoIt should be "assets under management". Those assets are really owned by millions of ordinary people: they are savings, retirement funds, etc.
- logicallee 10y agoThanks. Perhaps a better way to put it is that it is fourth-largest fund in the word by assets managed (after BlackRock, Vanguard Group, and UBS), at least according to a quick search. It's not realy fair to call it their assets, though.
- mynewtb 10y agoBlackRock even has more than twice that. :/
- smsm42 10y agoThey hold huge indexes like SPY and are huge ETF vendor (in fact, Wikipedia says they invented the ETF), second only to BlackRock. So trillions under management (not to be confused with money they own!) entirely not surprising.