Total AuM at world's largest asset managers exceeds $100trn for first time

Written by Adam Cadle

19/10/2020

Assets under management (AuM) at the world’s 500 largest asset managers exceeded $100trn for the first time in 2019 – totalling $104.4trn, according to new research published by the Thinking Ahead Institute.

The latest figure represents an increase of 14.8% on the previous year when total AuM was $91.5trn and an almost three-fold increase from $35.2trn in 2000. A growing concentration exists among the top 20 managers whose market share increased during the period to 43% of total assets, up from 38% in 2000 and 29% in 1995.

According to the research, passively managed assets in the survey grew to $7.9trn in 2019, up from $4.9trn in 2015.

Roger Urwin, co-founder of the Thinking Ahead Institute, said: “The investment industry has always been dynamic, but the pace of change is speeding up, manifested notably through consolidation. In addition, rapidly advancing technology is changing the shape of mandates and producing products that require less governance and are more streamlined. This has led to the growth of passive and index tracking, factor-based strategies and solutions. Private markets have also continued a significant growth trend in the last decade, during which investors have sought higher returns involving higher risk.

“Most asset management processes – including investment, operating and decision-making – are also having to evolve. This is being driven by, in particular, asset owners seeking the benefits of outsourcing; the increased use of the Total Portfolio Approach, especially when targeting absolute return; and the use of index tracking in ETFs, where there is an active choice of the index.”

The world’s largest money managers
Ranked by total assets under management, in US millions, as of 31 December 2019.

1 BlackRock $7,429,632
2 Vanguard Group $6,151,920
3 State Street Global $3,116,424
4 Fidelity Investments $3,043,134
5 Allianz Group Germany $2,539,842
6 J.P. Morgan Chase $2,364,000
7 Capital Group $2,056,991
8 BNY Mellon $1,910,000
9 Goldman Sachs Group $1,859,000
10 Amundi France $1,617,280
11 Legal & General Group $1,568,891
12 Prudential Financial $1,550,982
13 UBS Switzerland $1,413,000
14 BNP Paribas France $1,257,603
15 Northern Trust $1,231,300
16 Invesco $1,226,173
17 T. Rowe Price $1,206,800
18 Wellington Mgmt. $1,154,735
19 Morgan Stanley $1,131,824
20 Wells Fargo $1,091,100

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