The emphasis is on building clients' wealth (and so Merrill's assets under management).

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Mr. Kapur also repeatedly inflated his firm's assets under management in investor reports and invented a nonexistent management team, the SEC alleged in its civil-fraud suit.

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Deals struck at the peak of the market comprise about a quarter of KKR's private-equity assets under management, while the company's efforts to diversify have yet to make much of an impact.

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United Arab Emirates, Saudi Arabia and Kuwait, the most influential members of the cartel, are home to three of the world's 10 largest SWFs by assets under management, according to estimates by the SWF Institute.

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BlackRock fell after the world's largest money manager posted earnings and assets under management that were largely unchanged from a year earlier.

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Rowe, which operates one of the largest no-load mutual fund complexes in the U.S. Some 75% of its assets under management is invested in equities and 25% in target-date retirement funds.

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Despite the global bear market, the ETF business outside the U.S. had a banner year in 2001, and assets under management continued to surge in the first quarter of 2002.

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The bank, formed when OCBC in 2010 bought ING's Asia private- banking business, has increased its NRI assets under management by 20% annually.

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Entering the asset-management business in Europe and the U.S. could help to expand its horizons there, and will push overall assets under management close to the total held by Nomura Asset Management, the biggest Japanese money manager, the company said.

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