IPE - The world’s largest asset managers enjoyed another year of growth in 2011, with assets at IPE’s Top 400 growing by 24%, from €29.1trn to €36.2trn - the highest total ever recorded for the survey.
IPE’s annual survey of leading global and European asset managers contains a ranking of asset managers and detailed breakdowns for individual businesses. The Top 400 survey for 2010 showed a nearly identical increase, with assets under management (AUM) growing by 24.3% year on year from €23.4trn in 2009 to €29.1trn.
Little surprise, BlackRock remained the largest manager, with its whopping €2.7trn in assets - up 15% from €2.3trn - accounting for more than 7.5% of overall assets.
What is more, the Top 10 asset managers all recorded sizeable increases in AUM, with second-place State Street Global Advisors’ assets growing by 12.5% to €1.5trn and third-place Allianz Global Investors’ assets increasing by 27.1% to approximately the same amount.
Vanguard Group, Fidelity Investments, JP Morgan Asset Management, PIMCO, BNY Mellon Asset Management, Amundi Group and Pramerica Investment Management rounded out the Top 10, with Pramerica posting a 26% increase, Vanguard 27.5% and PIMCO 33%.
Among the biggest winners of assets were Switzerland’s Sustainable Asset Management - whose AUM grew by 192% from €4bn to €11.8bn - and Fischer Francis Trees & Watts and Sweden’s Handelsbanken Asset Management, with both companies reporting a 187% increase in AUM.
On the down side, Denmark’s Nykredit Asset Management fared the worst, with AUM falling by nearly 70%, from €38.4bn to just over €12bn.
Other large losers of assets included Germany’s Oppenheim Asset Management (-48%), US-based Smith Breeden Associates (-47.5%) and UK-based Cushman & Wakefield Investors (-45.7%).
Overall, 48 companies in IPE’s Top 400 2011 reported a contraction in AUM, with 25 posting a loss of 10% or more.
In Europe, the Top 10 asset managers were BlackRock, Legal & General Investment Management, Natixis Global Asset Management, APG, State Street Global Advisors, Allianz Global Investors, Amundi Group, Deutsche Asset Management, BNP Paribas Investment Partners and Credit Suisse.
Total assets in Europe came to more than €5.7trn, a 21% increase on last year’s €4.7trn.
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 +44 20 72614617 or firstname.lastname@example.org