去年夏天开始随着次次抵押贷款爆炸而开始流失的时候，许多投资者出国寻找回报。虽然标准贸易额500指数年初占5.5％，但涵盖了美国以外发达经济体的MSCI EAFE指数上涨了11.2％。在一些新兴市场中，回报甚至更好。
金钱经理在一起受益。The 50 biggest U.S.-based managers of non-U.S. stocks and bonds that make up Institutional Investor’s annual America’s Largest Overseas Investors ranking saw combined foreign holdings surge 21.9 percent, to $7.8 trillion, from December 2006 to December 2007. That was slower than 2006’s 29.6 percent growth but still faster than the 16.8 percent of 2005. Some of that increase (roughly one third, estimates Julia Coronado, senior economist at Barclays Capital in New York) was a result of the weakening dollar; the rest came from net inflows and investment gains. Total global assets grew by 8.8 percent, to $24.7 trillion, with non-U.S. assets accounting for 31.6 percent of that total — 3.6 percentage points more than the year before.
Barclays Global Investors has been perched at the top of the II ranking every year since it first appeared, in 1996, except for 1998 and 1999, when BGI was No. 2. The San Francisco–based firm had $1.0 trillion in non-U.S. stocks and bonds under management as of December 31, 2007, about $340 billion more than -runner-up State Street Global Advisors of Boston. The increase of 22 percent from 2006, when BGI had $821.7 billion in international assets, pushed the non-U.S. portion of the firm’s asset mix from 45.3 percent in 2006 to 48.2 percent in 2007. Part of BGI’s asset growth came from its February 2007 acquisition of Germany’s Indexchange Investment, one of Europe’s biggest providers of exchange-traded funds. “There is a growing demand for global investment approaches,” says BGI CEO Blake Grossman.
富达投资去年以比其他十大排名最高的公司更快的步伐增长其国际资产。基于波士顿的共同基金巨头的非美国股份有395.0亿美元。截至2007年12月31日的股票和债券。从2006年增加64.3％，将坚定不移地推向第八次。该公司表示，国际资产现在占管理层的达到管理总额的26.0％，而达到管理总额的总资产。该公司表示，富达在国际资产中的增长率来自其他投资者，该公司涉及其国际共同基金的401（k）计划。“这是完全有机的。它不像他们收购了这些资产，“瑞士省晨星的分析师克里斯托弗·戴维斯说，他们涵盖富达。例如，64亿美元的资产富达新兴市场基金于2007年返回45.0％，击败其基准，MSCI EAFE，占33.9个百分点。与此同时，144亿美元的资产富达国际发现基金去年增长了19.0％，击败了MSCI EAFE，比例为7.8个百分点，收入五个晨星明星 - 该机构最高评级。
Blackrock在排名中从第五名到第六名，但巨大的固定收入经理仍然长期以来一年。资产筹集了24.3％，去年达到371.1亿美元，作为坚定的主权财富基金和其他大型海外投资者。在Blackrock，79％的净流入固定收入策略或215亿美元来自非美国。投资者，与美国投资者只有57亿美元相比。BlackRock CEO Laurence Fink expects that over the next five years more than half of the firm’s clients will live outside the U.S. “We are not just a New York–based company anymore,” says Fink, whose firm has offices in 29 cities outside the U.S. “The marketplace has evolved us and made us more global. Our culture has changed. I have to have big offices in London, Tokyo, Beijing — I’ve got to be everywhere.”
成为全球企业的战略目标也是驾驶邀请（以前的Amvescap），去年将其法律居住在U.K.向美国迁至美国。Invesco grew its non-U.S. assets by 7.3 percent, to $211.3 billion, as of December 31, 2007. Under the leadership of CEO Martin Flanagan, who joined three years ago from Franklin Resources with a mission to combine Invesco’s nearly 20 businesses around the world into a single integrated operating company headquartered in Atlanta, Invesco has established its global footprint so well that more than 40 percent of its assets are outside the U.S. Nearly half of those international assets are in the U.K., where London-based subsidiary Invesco Perpetual has a 6 percent share of the mutual fund market. Last year 94 percent of Perpetual’s investment funds outperformed their peers in the U.K., according to Invesco’s 2007 annual report. As a result, net flows in the U.K. nearly tripled, from $4.3 billion in 2006 to $12.2 billion in 2007. In addition, Invesco manages about $10 billion for sovereign wealth funds in -Asia and the Middle East, and it holds a 49 percent stake in a joint venture with a money management firm in Shenzhen, China, that manages about $15 billion.
投资海外有助于缓解2007年的投资者的痛苦。然而，2008年第一季度，MSCI EAFE下降了8.9％，而MSCI EAFE新兴市场指数下降了9.3％。Tim Scholefield, head of equities at London-based Baring Asset Management, a subsidiary of Springfield, Massachusetts’ MassMutual Financial Group — which grew its total non-U.S. assets by 19.5 percent, to $117.9 billion, last year, staying in 18th place — saw his firm’s investments in large-cap Euro-pean stocks fall 18 percent from January 1 to March 31. But Scholefield predicts large-cap stocks in Europe will rise by 5 to 10 percent from May to December this year and that emerging markets will be upby about 15 percent. “We’ll see a gradual improvement,” he says. “The desire to diversify into other markets is a recurring theme around the world.