Basic HTML Version
17
Year-End 2015 Report
| International Investing Trends
International Investing Trends
(continued)
The value of institutional holdings of DRs was $722.6 billion
as disclosed in September 2015. Approximately 73% of the
value of DRs was held by institutional investors in North
America followed by institutional investors in Europe (21%). In
terms of investor type, Investment Managers (Mutual Funds)
and Hedge Funds accounted for roughly 83% of the DR value
held. In terms of investment style, Growth, Value and GARP
investment style funds accounted for roughly 66% of the DR
value held.
Holder Name Investment
Style
Investor
Type
Value of
DRs Held
(USD Billions)
Fidelity Management
& Research Company
Growth Investment
Manager-
Mutual Fund
$19.7
Capital World
Investors (U.S.)
Value Investment
Manager-
Mutual Fund
$15.4
Dodge & Cox
Deep Value Investment
Manager-
Mutual Fund
$13.4
Fisher Investments
GARP Investment
Manager-
Mutual Fund
$12.0
Baillie Gifford &
Company, LTD
Growth Investment
Manager-
Mutual Fund
$10.9
T. Rowe Price
Associates, Inc.
Growth Investment
Manager-
Mutual Fund
$10.0
Dimensional Fund
Advisors, L.P.
(U.S.)
Value Investment
Manager-
Mutual Fund
$9.8
Lazard Asset
Management, LLC
(U.S.)
Value Investment
Manager-
Mutual Fund
$9.2
Capital Research
Global Investors
(U.S.)
GARP Investment
Manager-
Mutual Fund
$9.2
OppenheimerFunds,
Inc
Growth Investment
Manager-
Mutual Fund
$8.9
Top Institutional Holders of DRs
Source: IPREO
1
Investment Style and Investor Type as defined by IPREO. Data as of Q3 2015.
2
GARP Funds: Growth at a Reasonable Price (GARP) investors hold securities that are trading at a discount to the market, but are expected to grow at a higher than
the market or industry average. These companies are typically out of favor systematically or temporarily. This is a more conservative investment style compared
to an outright growth-oriented strategy. Dividend yield is generally not a concern of GARP investors.
By Region
Other
1%
Pacific
1% Asia
4%
Europe
21%
North America
73%
Source: IPREO
Total Value of DRs Held: $722.6 Billion
Source: IPREO
Total Value of DRs Held: $722.6 Billion
Source: IPREO
Total Value of DRs Held: $722.6 Billion
By Investor Type
1
Others
2%
Insurance
1%
Investment Advisor
Fund of Funds
1%
Sovereign Wealth Fund
1%
Pension Fund
State/Government
2%
Broker
4%
Investment Manager
6%
Hedge Fund
8%
Investment Manager
Mutual Fund
75%
By Investment Style
1, 2
Other
1%
Specialty
1%
Yield
1%
Externally Managed
2%
Aggressive
Growth
3% Broker
4%
Deep Value
7%
Index
7%
Alternative
8%
GARP
9%
Value
26%
Growth
31%