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Top 400 Asset Managers: Global assets back on the rise

• Total AUM of top 400 managers = €39.2trn (2012 = €36.3trn; 2011 = €36.2trn).
• Increase in AUM of 8% over 2012.
• BlackRock is the largest manager (€2.9trn) and accounts for 7.4% of overall assets.
• Top 100 managers account for 83.7% of the assets (€32.8trn).

In New York’s gilded age at the end of the 19th century, just 400 people were counted among the members of fashionable society – reputedly the number that 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 our European market, charting AUM trends upwards and downwards as bull markets have followed bear markets.

Spurred by buoyant equity markets at the end of the year, 2012 saw a return of healthy growth in global assets under management, with AUM in the Top 400 at €39.2trn, up a healthy 8%. By contrast, 2011 saw total AUM becalmed with growth of just 0.3% over the course of the year.

In 2002, the year of the first Top 400, just two asset managers – Allianz Dresdner (now AGI) and Fidelity – topped the billing with more than €1trn of assets. Now that number has increased to seven.

BlackRock continues to consolidate its top place in the rankings, with almost €3trn in AUM as at the end of 2012. Its increase in AUM of more than €150bn over 2012 represents the addition of a business the size of Nuveen Investments or Santander Asset Management over the course of the year.

Complementing our data and directory section in this year’s report, we focus on the business of asset management with 11 contributions from leading commentators and organisations.

Like the asset management industry, the pharmaceutical sector has been a great generator of revenue for shareholders but also faces many challenges. The patent cliff will put pressure on revenues, just as commoditisation puts pressure on asset managers’ revenues. And like the financial sector, pharma companies have faced a crisis of trust in recent years. Mitesh Sheth’s opening article in this year’s editorial section is a fascinating account of the parallels between the two.

 

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