The world’s 500 largest asset managers controlled $128 trillion in total assets under management (AUM) at the end of 2023, according to the latest report released by WTW’s Thinking Ahead Institute, a global not-for-profit investment research and innovation member group made up of more than 55 institutional asset owners and service providers.
The report also showed that BlackRock remains the world’s largest asset manager, with its AUM having risen above $10 trillion again. Vanguard Group is in second place at almost $8.6 trillion AUM staying ahead of Fidelity Investments and State Street Global which are ranked third and fourth, respectively.
“Asset managers have experienced a year of consolidation and change. While there has been a return to strong market performance, the last year has also seen forces of change,” said Jessica Gao, director at the Thinking Ahead Institute. “Uncertainties looking ahead are now focused on geopolitical events and several major elections.”
The list of the top 20 investment managers are dominated by U.S.-based firms.
| Rank | Fund | Market | Total Assets (US$ millions) |
|---|---|---|---|
| 1 | BlackRock | U.S. | $10,008,995 |
| 2 | Vanguard Group | U.S. | $8,593,307 |
| 3 | Fidelity Investments | U.S. | $4,581,980 |
| 4 | State Street Global | U.S. | $4,127,817 |
| 5 | J.P. Morgan Chase | U.S. | $3,422,000 |
| 6 | Goldman Sachs Group | U.S. | $2,812,000 |
| 7 | UBS | Switzerland | $2,620,000 |
| 8 | Capital Group | U.S. | $2,532,813 |
| 9 | Allianz Group | Germany | $2,454,495 |
| 10 | Amundi | France | $2,250,226 |
| 11 | BNY Investments | U.S. | $1,974,322 |
| 12 | Invesco | U.S. | $1,585,344 |
| 13 | Legal & General Group | U.K. | $1,475,442 |
| 14 | Franklin Templeton | U.S. | $1,455,506 |
| 15 | Prudential Financial | U.S. | $1,449,673 |
| 16 | T. Rowe Price Group | U.S. | $1,444,500 |
| 17 | Northern Trust | U.S. | $1,434,500 |
| 18 | Morgan Stanley Inv. Mgmt | U.S. | $1,373,456 |
| 19 | BNP Paribas | France | $1,364,099 |
| 20 | Natixis Investment Managers | France | $1,288,581 |
Notable risers over the last 5 years include Charles Schwab Investment, up 34 places to reach 25th place from 59th place. Geode Capital Management, also U.S. based, is up 31 places to reach 23rd place from 54, while Canada’s Brookfield Asset Management is up 29 places from 60th to 31st.
Source: Willis Towers Watson US LLC
Image credit: Adobe Stock
