Top 400 Asset Managers 2016: Global assets now €56.3trn

June 2016 (Magazine)By Liam Kennedy

Related Asset Managers

BlackRock

• Total AUM of the top 400 managers is €56.3trn (2015= €50.3trn; 2014= €42.7trn; 2013= €39.2trn; 2012= €36.3trn).
• European institutional AUM: €8.7trn (up 19.2%)
• European pension AUM: €3.3trn (up 15.6%)
• Increase in AUM of 11.9% over last year’s figures.
• BlackRock (€4.4trn) accounts for 7.8% of overall assets.
• Top 10 managers account for a third (33.6%) of all assets.

View the 2016 data here

Assets managed by the leading global asset managers increased by nearly 12% over the course of last year, according to the 2016 IPE Top 400 Asset Managers survey. This is less than the 17.8% increase recorded over the course of 2014, although higher than 2013’s 8.9% increase.

Total assets managed for European pension funds, where stated by respondents, are some €3.3trn, while the total for all institutional investors is €8.7trn, up over 19%. Our survey shows that €5.7trn of institutional assets are managed on an active basis and €1.3trn passively.

For the first time, our survey breaks out alternative index (smart beta) investment assets: here the global total is €500bn, with €139bn managed for European institutions. We also calculate an European institutional ETF investment volume of €325bn and infrastructure assets of €58bn.

Legal & General Investment Management (LGIM) this year joins other managers of liability-driven investment strategies in stating an overall global AUM figure that includes notional derivative and advisory assets on which ad valorem fees are paid. This propels LGIM into the top 10 managers overall; this evolution of the methodology underlying our ranking is simply a reflection of changing reporting practice.

Top 400 Asset Managers 2016 (Top 25)

The top 25 asset managers 2016
	Company	Country	Total 2016	Total 2015
			31/12/15 (€m)	31/12/14 (€m)
1	BlackRock	US/UK	4,398,439	3,844,383
2	Vanguard Asset Management	US/UK	3,091,979	2,577,380
3	State Street Global Advisors	US/UK	2,066,479	2,023,149
4	Fidelity Investments	US	1,830,330	1,595,380
5	BNY Mellon Investment Management	US/UK	1,492,895	1,407,163
6	J.P. Morgan Asset Management	US/UK	1,361,178	1,266,805
7	PIMCO	US/Germany	1,321,158	1,162,583
8	Capital Group	US	1,272,080	1,167,231
9	Prudential Financial	US	1,089,737	968,628
10	Legal & General Investment Mngt.†	UK	1,012,389	893,900
11	Goldman Sachs Asset Management Int.	US/UK	996,651	846,182
12	Amundi	France	985,028	865,985
13	Wellington Management	US	853,274	755,108
14	Northern Trust Asset Management	US/UK	805,763	771,951
15	Natixis Global Asset Management	France/US	801,128	735,530
16	TIAA Global Asset Management	US	786,479	703,529
17	Deutsche Asset Management	Germany	777,091	721,747
18	Invesco	US/UK	714,070	654,645
19	Franklin Templeton Investments	US/UK	703,220	727,394
20	T. Rowe Price	UK	702,479	617,163
21	AXA Investment Managers	France	669,436	623,008
22	Legg Mason	US	618,397	586,004
23	Sumitomo Mitsui Trust Bank	Japan	614,762	512,279
24	UBS Asset Management	Switzerland/UK	597,234	552,089
25	Affiliated Managers Group	US	578,310	512,635

† Figures now include total value of assets on which LGIM earns ad valorem fees including notional derivative positions and advisory assets.

^{Click here to download the complete Top 400 table}

(To buy the Top 400 data, email Emma Morgan-Jones)

Our 2016 report on asset management opens with an assessment of the challenges facing the global investment management sector – in business models, investment, regulation, technology and client relationships. We also look at China, liquidity and multi-asset strategies. Articles on the role of asset management in boosting economic activity and the long-standing issue of trust round off the report.

view the 2016 data here

Liam Kennedy, Editor, IPE

• In New York’s gilded age at the end of the nineteenth century, just 400 people were counted among the members of fashionable society – reputedly the number who could fit into Mrs Astor’s ballroom. In this spirit, since 2002 IPE has collected data on the leading 400 asset managers both globally and in Europe. The data is compiled by IPE, on the most part based on information provided by the individual companies and in a few cases based on information from public sources.