Top 300 money managers lost, on average, 23.4 % in 2008

If you lost less than 23.4 % last year, then you are in good company.

Institutional Investor has just published that the U.S.’s 300 largest money managers (the II300 ranked by the magazine) "saw its total assets tumble by 23.4 percent last year, to $26.7 trillion. The hardest hit asset classes were the riskiest — equity, which fell 41.3 percent, and alternatives, which fell 26.1 percent. Bonds, normally the darling of investors when stocks are in a tailspin, also fell, by 9.3 percent. The only asset class that actually grew last year was cash equivalents — and even then by only 3.9 percent, to $5.47 trillion".