Small Fries, Big Flows

Here's a list of the fastest growing asset managers, based on percent change in AUM among firms with assets between $1 billion and $10 billion for the 12-month period ending April 2007. Topping the list is Kinetics Asset Management, which is perhaps better known for its institutional research. But the firm's Kinetics Funds have been reporting sizzling returns in recent years with Kinetics Paradigm

Here's a list of the fastest growing asset managers, based on percent change in AUM among firms with assets between $1 billion and $10 billion for the 12-month period ending April 2007. Topping the list is Kinetics Asset Management, which is perhaps better known for its institutional research. But the firm's Kinetics Funds have been reporting sizzling returns in recent years with Kinetics Paradigm Fund boasting a five-year annualized return of 24.09 percent (No. 1 in the large-growth category) and Kinetics Small-Cap Opportunities Fund putting up a 21 percent gain (No. 6 in its category) over the last five years. The firm also has the highest sales-to-asset ratio of any mutual fund family over the last year at 121.6 percent.

FASTEST GROWING ASSET MANAGERS
Complex Name	Apr-06 Assets $MM	Apr-07 Assets $MM	% change	Net Flows Assets $MM	Sales/Asset Ratio
Kinetics Asset Mgmt.	$1,357	$3,893	186.9%	$1,650	121.6%
Keeley Asset Mgmt.	2,167	4,714	117.5	2,107	97.2
Henderson Global Funds	2,077	4,314	107.7	1,662	80.0
Fairholme Funds	2,421	4,896	102.3	1,970	81.4
Diamond Hill Capital	1,488	2,786	87.2	1,146	77.0
Highland Capital Mgmt.	2,793	4,957	77.5	1,912	68.5
Cohen & Steers	6,570	11,583	76.3	3,116	47.4
Mellon Institutional Funds	3,522	6,108	73.4	1,817	51.6
Metrop. West Asst Mgmt.	3,156	5,411	71.5	1,969	62.4
Alpine Mgmt & Research	2,399	4,071	69.7	1,113	46.4
Source: Financial Research Corp.

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