Panagora Asset Management Inc (Boston)

Panagora Asset Management provides portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and asset allocation services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Panagora Asset Management: assets under management

The assets under management (AUM) of Panagora Asset Management Inc is $44.05 billion. The firm's AUM has grown by 175% since the beginning of its operation, and $30.67 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $43.7 billion in discretionary accounts and $353.32 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $273.1 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $88.33 million.

Panagora Asset Management has custody of $10.51 billion in cash and securities for 21 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 83% of the total AUM. The second-largest asset type is derivatives, which make up 11% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Panagora Asset Management Inc for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Eric Hevering Sorensen serves?

The firm provides services to investment companies, charitable organizations, pooled investment vehicles, corporations or other businesses, pension and profit sharing plans, state or municipal government entities, and sovereign wealth funds and foreign official institutions. The largest group of clients of Eric Hevering Sorensen is pooled investment vehicles with 34 clients and $13.2 billion of assets under management. Among the 12 most similar advisory firms, Panagora Asset Management has the 6th lowest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $42.51 billion for 156 clients. 100% of the firm’s clients are foreign persons or businesses.

Panagora Asset Management also advises several private funds. Namely, fourteen hedge funds and seven other private funds. The minimum investment commitment required of non-related persons ranges from $0 to $3,000,000.

Careers at Panagora Asset Management Inc

The company employs 158 people that are either part- or full-time employees. 27 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Eric Hevering Sorensen has been acting as President since 1 Jul 2004. Edward Enping Qian has served as the Chief Investment Officer since 1 May 2007. Mark Jonathon Anson joined the executive team most recently as the Director.

Direct owners and executive officers

Indirect Owners

The SEC currently registers 41 indirect owners.

Based in Boston

The principal office where Panagora Asset Management Inc performs its advisory services is located at One International Place, Boston, MA 02110, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-439-6300 or by fax 617-439-6355. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at panagora.com and its LinkedIn profile.

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