Top 500 asset managers reach new $131 trillion record
U.S. managers account for 15 of the 20 largest firms based on AuM
ARLINGTON, Va., Oct. 17, 2022 (GLOBE NEWSWIRE) -- Assets under management (AuM) at the world’s 500 largest asset managers reached a new record of over
The research also shows further concentration of assets managed by the very largest organizations. The world’s top 20 asset managers are now responsible for over
In addition, the research reveals that BlackRock is both the world’s largest asset manager and the first to exceed
The dominance of U.S. managers is increasingly apparent at the top of the rankings; they now account for 15 of the 20 largest firms and around
According to the research, passively managed funds grew by
“Investment managers are facing a combination of long-term headwinds from macroeconomic, geopolitical and climate risks — but are also spurred on by the driving factors of technology and industry innovation,” said Marisa Hall, co-head of the Thinking Ahead Institute. “This is a story of dark clouds on the horizon, potentially matched by a powerful engine room of innovation.
“Consolidation is an obvious symptom of a changing investment industry, but bigger is not always better. Specialism is still sought-after, with genuine boutiques and smaller global managers proving that standing out for the right reasons can be as strong a business model as offering standardization.
“Asset managers are adapting as organizations, and we’re seeing competitive pressures manifest in a reassessment of the skills and structures that drive success. For example, healthy scrutiny of sustainability claims is leading to enormous demand for climate and environmental specialists. Meanwhile, modern expectations for digital client service and a need for rigorous data-led investment processes is separately driving total reevaluations of operational technology. These trends mean we’re not seeing just a shift in the rankings but also a shift in what it means to be a successful asset manager.”
Following are additional research findings, from a subset of managers in the ranking:
- Assets allocated to environmental, social and governance principles increased by over four percentage points to reach over
60% of assets. - Allocations to LDI strategies slowed marginally to around
13.9% of total assets invested in LDI strategies, from14.2% a year before. - A majority (
56% ) of managers increased the number of women, and those of other protected minority groups, in high positions. - Technology and big data received additional resources among a strong majority (
76% ) of managers, while a similar75% boosted their resources focused on cybersecurity. - Product offerings are still expanding — with
72% increasing the number of investment products they offer to clients. - Aggregate investment management fee levels decreased for a third (
29% ) and increased for13% of managers.
The world’s largest money managers: Ranked by total AuM
Rank | Fund | Market | Total assets (US$ millions) | |
1 | BlackRock | U.S. | ||
2 | Vanguard Group | U.S. | ||
3 | Fidelity Investments | U.S. | ||
4 | State Street Global | U.S. | ||
5 | J.P. Morgan Chase | U.S. | ||
6 | Allianz Group | Germany | ||
7 | Capital Group | U.S. | ||
8 | Goldman Sachs Group | U.S. | ||
9 | BNY Mellon | U.S. | ||
10 | Amundi | France | ||
11 | UBS | Switzerland | ||
12 | Legal & General Group | U.K. | ||
13 | Prudential Financial | U.S. | ||
14 | T. Rowe Price Group | U.S. | ||
15 | Invesco | U.S. | ||
16 | Northern Trust | U.S. | ||
17 | Franklin Templeton | U.S. | ||
18 | Morgan Stanley Inv. Mgmt. | U.S. | ||
19 | BNP Paribas | France | ||
20 | Wellington Mgmt. | U.S. |
Source: Thinking Ahead Institute: World’s Largest Asset Managers 2022 report
Notes to editors:
Figures are the latest available as of Dec. 31, 2021. Additional research findings are based on a subset of asset managers in the 2021 ranking that provided relevant data for all years since 2019.
About the Thinking Ahead Institute
The Thinking Ahead Institute was established in January 2015 and is a global not-for-profit investment research and innovation member group made up of engaged institutional asset owners and service providers committed to changing and improving the investment industry for the benefit of the end saver. It has over 50 members around the world and is an outgrowth of WTW Investments’ Thinking Ahead Group, which was set up in 2002.
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