Biggest managers’ global assets hit $68trn

The world’s 500 biggest fund managers saw their assets rise by more than 8% in 2012, to $68trn, according to data published by the Pensions & Investments/Towers Watson World 500 report.

The gain recorded by the research suggests total assets are now almost back to 2007 levels – $69trn – and are about twice levels seen in 2002.

Managers owned by banks continue to dominate the top 20, while the number of independent managers remained static.

Twelve of the top 20 are US based managers, while eight are based in Euorpe. Japanese managers saw their collective assets decline by about 9% in 2012, although European and US managers saw their assets increase by more than 8% and 13% respectively through the year.

Despite these positive outcomes, Craig Baker, global head of research at Towers Watson Investment, sounded a warning to investors, saying that they should not abandon efforts to ensure the charges applied by managers are not just the result of market improvements.

“In addition, investors should not stop looking at lower-cost options, particularly if they have limited governance,” Baker added.

The research has found that US managers have increased their share of assets from 42% to about 50% over the past decade – mostly at the expense of Japanese and Swiss manager. Canadian and French managers have also grown through the period.

Passive assets managed by the biggest managers have grown by 13% annually.

Baker said this reflected moves by institutional investors to find more efficient ways to invest their assets, boosting interest in areas such as ‘smart beta’.

 

The world’s largest money managers
 
Ranked by total assets under management, in $m, as of Dec. 31, 2012
RankManagerCountryTotal assets ($m)
1.BlackRockUS$3,791,588
2.Allianz GroupGermany$2,447,820
3.Vanguard GroupUS$2,215,216
4.State Street GlobalUS$2,086,200
5.Fidelity InvestmentsUS$1,888,296
6.AXA GroupFrance$1,474,568
7.J.P. Morgan ChaseUS$1,431,165
8.Bank of New York MellonUS$1,385,863
9.BNP ParibasFrance$1,303,989
10.Deutsche BankGermany$1,247,477
11.Capital GroupUS$1,147,411
12.Prudential FinancialUS$1,060,250
13.UBSSwitzerland$999,758
14.Amundi Asset Mgmt.France$961,245
15.HSBC HoldingsUK$910,000
16.Goldman Sachs GroupUS$854,000
17.Franklin TempletonUS$781,769
18.NatixisFrance$779,317
19.Northern Trust GlobalUS$758,943
20.Wellington Mgmt.US$757,729

 

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