IPE - JP Morgan Asset Management (JPMAM) has nearly doubled the size of its European institutional mandates, posting one of the largest gains of any institutional manager active in the region, according to IPE's Top 400 Asset Managers survey.
The biggest losses were seen at Italy's Eurizon Capital and BNP Paribas Investment Management, which both saw institutional assets fall by at least €32bn.
Despite this, European assets managed by the 120 largest institutional managers rose to €5.7trn, a 21% increase over December 2009.
JPMAM's 82% increase in assets saw it jump 12 places to 25 over 2010's listings, now €3.2bn ahead of ING Investment Management.
In the ranking, BlackRock came first, with €544bn of its €2.7trn in assets managed on behalf of European pension funds, insurance companies, charities or foundations.
The world's largest asset manager also saw the second-largest leap in funds. With almost €79bn, BlackRock saw its assets under management double compared with Aberdeen Asset Management, a distant third with €41bn, a 46% increase.
The five largest European providers remained static, consisting of Legal & General, Nataxis Global Asset Management, Dutch pension manager APG and State Street Global Advisors, in addition to BlackRock at the top spot.
An 8% surge saw Allianz Global Investors rise two places to number six, replacing Amundi Group, which saw European outflows of close to €18bn, or 9% of assets under management (AUM).
Allianz leapfrogged BNP Paribas Investment Partners, now ranked ninth behind Deutsche Asset Management's €162bn in mandates, but ahead of Credit Suisse, which rounded out the top 10.
One manager gaining prominence was Man Group, with the company posting a 147% increase in assets to €15.8bn at the end of December.
Since then, it has won a €1.2bn mandate from Germany's largest pension fund, the Bayerische Versorgungskammer.
Züriche Kantonalbank Asset Management more than doubled its mandates to €14.6bn, while Investec's European AUM rose by 130% to €16.3bn.
Eurizon Capital, despite posting the largest outflows in this year's survey, still ranked 53rd in IPE's overall Top 400, with global business meaning AUM fell by just 2.5%.
A number of managers saw assets remain constant, such as Goldman Sachs, only reporting a 1.2% increase in business in Europe, mirroring its 1.8% increase globally.
[This article was updated 7 June, 2011].
IPE Top 400 Asset Managers 2011 is distributed with the June 2011 issue of IPE and can be ordered in Excel, digital and print format. For details, please contact Emma Morgan Jones at +44 20 72614617 or email@example.com.