• 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
 CompanyCountryTotal 2016Total 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.