Despite the stock market doldrums since the beginning of the year, the pandemic has been generally good to investors. The S&P 500 finished 2020 up over 16% and 2021 with a near 27% return. Many asset manager firms were able to capitalize on this, as assets continued to balloon – a combination of investment returns and new client assets.
In fact, BlackRock’s assets under management surpassed $10 trillion for the first time in the fourth quarter of 2021, the company said when it reported its financial results on Jan. 14. The company reported $19.3 billion in revenue for the year and nearly $540 net inflows. BlackRock is the largest investment manager by assets under management.
To find the 20 asset managers with the most assets under management, 24/7 Wall St. reviewed and updated ADV Ratings World’s Top Asset Managers Firms list using recent company filings and company websites.
We included only assets under management as reported, though in the case of Bank of America, Morgan Stanley, and JPMorgan Chase, managed client assets may be considerably higher. These are noted.
Asset management companies help clients invest their money. Often, their clients include large institutional investors such as pension funds, government or corporate, and endowments. Many also manage mutual funds and other vehicles individual investors can invest in. High net worth investors are also among these firms’ clients. (These are the countries where the 1% holds the most wealth – countries with the richest rich people.)
The firms on the list are mostly American, but several are European based. Some, like Bank of America, offer consumer banking, while many also offer investment banking services. Most firms also reported double-digit increases in assets under management compared to a year ago.
Whether asset managers can repeat their recent success in 2022 remains to be seen. With inflation roaring at four-decade high and the Federal Reserve warning of different measures it plans to take, markets have been reeling. (The price of this household item is soaring.)
Click here to see the world’s biggest asset management firms in 2021
20. Franklin Resources (operating as Franklin Templeton)
> Assets under management, 12/31/2021: $1,578,100,000
> Year-over-year change in assets: 5%
> Country: US
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19. Bank of America
> Assets under management, 9/30/2021: $1,578,630,000*
> Year-over-year change in assets: 23%
> Country: US
*Total client balances were $3,692,833,000
18. Morgan Stanley
> Assets under management, 12/31/2021: $1,565,000,000*
> Year-over-year change in assets: N/A
> Country: US
*Including wealth management client assets of $4,900,000,000, total client assets under management were $6,465,000,000.
17. T. Rowe Price
> Assets under management, 9/30/2021: $1,612,300,000
> Year-over-year change in assets: 23%
> Country: US
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16. Edward Jones Investments
> Assets under management, 6/25/2021: $1,700,000,000
> Year-over-year change in assets: N/A
> Country: US
15. Prudential Financial
> Assets under management, 9/30/2021: $1,726,600,000
> Year-over-year change in assets: 5%
> Country: US
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14. Credit Suisse
> Assets under management, 9/30/2021: $1,736,610,000*
> Year-over-year change in assets: 10%
> Country: Switzerland
*Reported assets under management of 1.623 billion Swiss francs.
13. Legal & General
> Assets under management, 6/30/2021: $1,835,000,000*
> Year-over-year change in assets: N/A
> Country: UK
*Includes LGIM in the U.K., U.S., and Hong Kong. Conversion rate: 1 GBP = 1.3838 USD, as of June 30, 2021.
12. Amundi
> Assets under management, 9/30/2021: $2,120,000,000
> Year-over-year change in assets: N/A
> Country: France
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11. PIMCO
> Assets under management, 12/31/2021: $2,200,000,000
> Year-over-year change in assets: N/A
> Country: US
10. Bank of New York Mellon
> Assets under management, 9/30/2021: $2,310,000,000
> Year-over-year change in assets: 13%
> Country: US
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9. Goldman Sachs
> Assets under management, 9/30/2021: $2,372,000,000
> Year-over-year change in assets: 17%
> Country: US
8. Capital Group
> Assets under management, 6/30/2021: $2,600,000,000
> Year-over-year change in assets: N/A
> Country: US
7. Allianz Group
> Assets under management, 9/30/2021: $3,003,582,400*
> Year-over-year change in assets: 7%
> Country: Germany
*Total assets under management reported 2,548 billion euros.
Includes PIMCO and Allianz Global Investors
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6. State Street Global Advisors
> Assets under management, 9/30/2021: $3,862,000,000
> Year-over-year change in assets: 23%
> Country: US
5. JPMorgan Chase
> Assets under management, 12/31/2021: $3,113,000,000*
> Year-over-year change in assets: 15%
> Country: US
*Total client assets $4,295,000,000, up 18%
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4. Fidelity Investments
> Assets under management, 9/30/2021: $4,227,500,000
> Year-over-year change in assets: 22%
> Country: US
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3. UBS Group
> Assets under management, 9/30/2021: $4,432,000,000*
> Year-over-year change in assets: 16%
> Country: Switzerland
*Consists of invested assets for global wealth management at $3,198 billion, asset management at $1,154 billion, and personal & corporate banking.
2. Vanguard Group
> Assets under management, 12/1/2021: $8,200,000,000
> Year-over-year change in assets: 15%
> Country: US
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1. BlackRock
> Assets under management, 12/31/2021: $10,010,143,000
> Year-over-year change in assets: 15%
> Country: US
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