Top 500 houses see assets sink below 2006 levels

Assets managed by the world’s largest 500 fund managers sank to below 2006 levels by the end of last year, led by declines among the top 20 houses, finds a survey due to be released today. Meanwhile, passive assets managed by the largest players have grown by more than 12% annually since 2001, underlining how asset owners have become less tolerant of paying active management fees for simple market exposure, says consultancy Towers Watson. AsianInvestor is due to publish its 2012…