Woes on Wall Street Confound List of Money Managers

by Gwen Moritz  on Monday, Nov. 17, 2008 12:00 am  

• Foundation Resource Management Inc. of Little Rock with $1.5 billion as of March, an increase of 27 percent since December 2006;

• Arvest Asset Management of Lowell with $648.6 million as of July, up 23 percent since September 2007; and

• Forest Hill Capital Inc. of Little Rock with $403 million as of March, down 6 percent from a year earlier.

While the top five remained in the same order as last year, there was some jockeying for position in the next five. Sowell Management Services of North Little Rock, led by William C. Sowell, jumped over Ifrah Financial Services and Smith Capital Management, both of Little Rock, to take the No. 6 position.

Sowell Management had $317.4 million under management as of January 2008, up from $260.1 million in January 2007.

That doesn't mean Ifrah and Smith faltered. Ifrah, which made a high-profile split from No. 23 Hutchinson Financial Inc. of Little Rock in January 2006, increased its assets under management by about 1.5 percent between February 2007 and February 2008, while Smith Capital grew by almost 7 percent between March 2007 and October 2008.

Reprising their roles as Nos. 9 and 10 are Meridian Investment Advisors and Lathrop Investment Management, both of Little Rock. Meridian's assets under management were up 3.3 percent between March 2007 and September 2008. Lathrop reported asset growth of 8 percent between March 2007 and February 2008.



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