In this article, we will take a look at 25 of the biggest publicly traded asset managers in the world. If you want to see some more of the world’s biggest asset managers, go directly to the 5 Biggest Publicly Traded Asset Managers.
An asset manager handles combined funds for their clients, investing them accordingly. While hedge funds may be the most widely recognized type of asset management company, there exist various other categories of asset managers, including those overseeing mutual funds, ETFs, and index funds.
In 2022, asset managers encountered a challenging period as assets under management (AuM) plummeted to $115.1 trillion, marking a nearly 10% decrease from the 2021 peak of $127.5 trillion. This decline was the most substantial in a decade. Looking ahead to the coming two years, inflation, market volatility, and shifts in interest rates are the primary concerns for both investors and asset managers. Nonetheless, PwC, one of the Big Four accounting firms, anticipates a recovery by 2027, projecting AuM to attain a base case of $147.3 trillion, showcasing a compound annual growth rate (CAGR) of 5%.
As we move further into the second half of the year, the stock market is beginning to reflect the expected impacts of the impending recession, aligning with predictions from J.P. Morgan Research. The firm anticipates a gradual economic decline in the United States by late 2023, primarily due to the Federal Reserve’s cautious approach, resulting in tighter credit conditions that will gradually dampen economic growth. While many stocks are on a downward trend, certain industries are flourishing despite this economic strain, presenting attractive investment opportunities for global investors. Some noteworthy sectors include Utilities, Healthcare, Consumer Staples, Communication Services, and DIY, along with related industries.
The asset and wealth management sector is undergoing significant transformations due to a range of hurdles, including pressure on fees, escalating costs, and shifting investor preferences. These challenges are further heightened by market instability, increasing interest rates, inflation, and impending economic downturns. Nevertheless, the fundamental foundation of the industry remains robust, offering potential for appealing profitability. Moreover, there’s a growing interest in alternative investments, thematic investment demands, and a preference for digital engagement. To capitalize on opportunities within the asset management domain, some top publicly traded options for investors include the likes of Bank of America Corporation (NYSE:BAC), Blackstone Inc. (NYSE:BX), and BlackRock, Inc. (NYSE:BLK).
Photo by Ruben Sukatendel on Unsplash
Our Methodology
For this list of the 25 biggest publicly traded asset managers in the world, we used the rankings of The SWFI and ranked institutions by the total managed AUM. If a company is publicly listed on either the NYSE or NASDAQ, we also included the number of hedge fund holders in our database that also held shares as of Q3 2023.
25. Sumitomo Mitsui Trust Holdings, Inc. (TYO:8309)
AUM: $624 billion
Sumitomo Mitsui Trust Holdings, Inc. (TYO:8309), formerly known as Chuo Mitsui Trust Holdings, Inc., is a financial holding company based in Chiyoda, Tokyo, Japan. The company specializes in providing a variety of financial products to both retail and wholesale customers, emphasizing services in asset management, financial brokerage, and real estate. With a figure of $624 billion, Sumitomo Mitsui Trust Holdings, Inc. (TYO:8309) boasts one of the largest AUMs in all of Asia.
24. Royal Bank of Canada (TSX:RY)
AUM: $810.68 billion
The Royal Bank of Canada (TSX:RY) stands as a Canadian multinational financial services firm and holds the position of the largest bank in Canada based on market capitalization. With a vast clientele exceeding 17 million and a global workforce of over 89,000 employees, RBC is a significant player in the financial sector.
In the third quarter of 2023, the Royal Bank of Canada (TSX:RY) recorded a net income of $3.9 billion, marking an 8% increase compared to the previous year. Diluted earnings per share (EPS) also saw a rise to $2.73, representing a 9% growth over the same period. Adjusted net income and EPS stood at $4.0 billion and $2.84, respectively, showcasing an 11% increase from the prior year. The notable surge in these figures was primarily fueled by enhanced capital market returns, particularly in the realms of corporate and investment banking, as well as global markets.
23. Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)
AUM: $825 trillion
Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG), headquartered in Chiyoda, Tokyo, Japan, operates as a prominent Japanese bank holding and financial services company. It holds the position of being Japan’s largest financial group and ranks among the world’s largest banks, boasting a substantial portfolio with total assets approximately amounting to $2.96 trillion. Functioning as the bank holding entity for MUFG Bank, it delivers a wide array of financial products and services across Japan, the United States, Europe, Asia/Oceania, and various international markets.
According to Insider Monkey’s second quarter database, 13 hedge funds held stakes worth $51.34 million in Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG). Israel Englander’s Millennium Management held the biggest stake in the company, comprising 3.17 million shares worth approximately $23.38 million.
Much like the Bank of America Corporation (NYSE:BAC), Blackstone Inc. (NYSE:BX), and BlackRock, Inc. (NYSE:BLK), Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) stands as a prominent asset manager.
22. Manulife Financial Corporation (NYSE:MFC)
AUM: $856 billion
Manulife Financial Corporation (NYSE:MFC), based in Toronto, Ontario, is a multinational insurance company and financial services provider. Operating as “Manulife” in Canada and Asia, it primarily functions in the United States through its division known as John Hancock Financial. The corporation provides a diverse array of financial protection, asset management, and wealth management products and services tailored for both individuals and corporate clientele. Its insurance offerings encompass individual life insurance, creditor insurance, individual living benefits insurance, and group life and health insurance.
Manulife Financial Corporation (NYSE:MFC) saw an upward trend in hedge fund positions in the second quarter of 2023, with 18 funds tracked by Insider Monkey owning stakes in the company, compared with 15 in the previous quarter. The overall value of these stakes is more than $96.1 million.
21. Schroders plc (LON:SDR)
AUM: $889.2 billion
Schroders plc (LON:SDR) is a multinational asset management firm based in London, England. Established in 1804, the company has a workforce of over 6,000 individuals spread across 38 locations worldwide, spanning Europe, America, Asia, Africa, and the Middle East. The company provides investment, advisory, and platform services catering to individuals, family offices, and charities. Its operations are divided into two segments: Asset Management and Wealth Management. The Asset Management segment primarily focuses on investment management, offering advisory services for equity, fixed income, multi-asset, private assets, and alternative products.
20. Blackstone Inc. (NYSE:BX)
AUM: $1 trillion
Blackstone Inc. (NYSE:BX) is an American alternative investment management company based in New York City. Blackstone’s private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate.
On July 20th of the current year, Blackstone Inc. (NYSE:BX) reported its latest earnings. Notable points from the second quarter earnings call included exceeding projected earnings per share (EPS) expectations, achieving $0.93 compared to the estimated $0.92. Moreover, Blackstone Inc. (NYSE:BX) demonstrated a return on equity at 16.99% and a net margin of 17.92%. The revenue generated in the quarter amounted to $2.81 billion, outperforming the market consensus estimate of $2.43 billion for the analyzed period.
According to Insider Monkey’s first quarter database, 60 hedge funds were long Blackstone Inc. (NYSE:BX), compared to 45 funds in Q1. Thomas Steyer’s Farallon Capital is the biggest stakeholder of the company, with 3.05 million shares worth $284.3 million.
Baron Durable Advantage Fund made the following comment about Blackstone Inc. (NYSE:BX) in its Q2 2023 investor letter:
“Lastly, we also continued building two of our newer positions, the largest independent broker-dealer, LPL Financial Holdings Inc., which remains well positioned to win market share in a growing industry as advisors continue shifting to independent broker dealers; and the leading alternative asset manager, Blackstone Inc. (NYSE:BX), which we believe stands to benefit from the continued shift to alternative asset management. Jamie Dimon, JP Morgan’s CEO, described how the potential changes in regulatory requirements from banks (such as increasing capital rations to 20%) during the company’s most recent earnings could provide an additional boost for alternative asset managers: “This is great news for hedge funds, private equity, private credit, Apollo, Blackstone, and there’s dancing in the streets.”
19. AXA SA (EPA:CS)
AUM: $1.03 trillion
AXA SA (EPA:CS) is a multinational insurance corporation based in the 8th arrondissement of Paris, France. The company offers not only insurance but also investment management and various financial services. Its operations are primarily concentrated in Western Europe, North America, the Indian Pacific region, and the Middle East, with a notable presence in Africa as well.Earlier this August, AXA SA (EPA:CS) has finalized a definitive deal to acquire Laya Healthcare Limited, a subsidiary of Corebridge Financial, for a total cash consideration of €650 million. The transaction is anticipated to be completed in the fourth quarter of 2023, pending regulatory approvals and standard closing conditions, as stated in the announcement.
18. Ameriprise Financial, Inc. (NYSE:AMP)
AUM: $1.1 trillion
Ameriprise Financial, Inc. (NYSE:AMP) offers financial services and products to both individual and institutional clients globally, operating across four key segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other. On September 4, the company declared a quarterly dividend of $1.35 per share. This dividend was distributed on September 18 to shareholders of record as of September 7. Ameriprise Financial, Inc. (NYSE:AMP) stands out as a top choice for investment in the asset management sector.
According to Insider Monkey’s second quarter database, 42 hedge funds were long Ameriprise Financial, Inc. (NYSE:AMP), compared to 39 funds in the prior quarter. Andreas Halvorsen’s Viking Global is the biggest stakeholder of the company, with 1.12 million shares worth $373.3 million.
17. BNP Paribas SA (EPA:BNP)
AUM: $1.14 trillion
BNP Paribas (EPA:BNP), a prominent French multinational bank and financial services holding company, was established in 2000 through the merger of Banque Nationale de Paris and Paribas, previously known as Banque de Paris et des Pays-Bas. BNP Paribas structures its operations into three primary business divisions: Corporate & Institutional Banking (CIB), Commercial, Personal Banking & Services (CPBS), and Investment & Protection Services (IPS). As the largest French bank and one of the world’s leading financial institutions, it boasts total assets of $2.89 trillion and a substantial global presence, employing approximately 190,000 staff members across 65 countries.
16. UBS Group AG (NYSE:UBS)
AUM: $1.2 trillion
UBS Group AG (NYSE:UBS) is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial sphere’s as the largest Swiss banking institution and one of the largest private banks in the world.
On August 11, the stock price of UBS Group AG (NYSE:UBS) saw a 4.9% increase, attributed to the bank’s decision to terminate a CHF 9 billion ($10.3 billion) loss protection guarantee previously provided by the Swiss government. Initially part of the government-facilitated acquisition of Credit Suisse, this guarantee was reassessed by UBS Group AG (NYSE:UBS) following the completion of the Credit Suisse takeover. The review led to the determination that both the loss protection guarantee and a CHF 100 billion ($114.1 billion) public liquidity backstop were no longer necessary, given that all loans owed by Credit Suisse had been repaid.
According to Insider Monkey’s first quarter database, UBS Group AG (NYSE:UBS) was part of 30 hedge fund portfolios, up from 16 in the prior quarter. Richard S. Pzena’s Pzena Investment Management held a prominent stake in the company, comprising 3.78 million shares worth $80.85 million.
Bronte Amalthea Fund made the following comment about UBS Group AG (NYSE:UBS) in its first quarter 2023 investor letter:
“The biggest thing that happened in markets in the quarter was the collapse of three banks:—Credit Suisse, Silicon Valley Bank and Signature Bank. We have held short positions in each of these banks, but we traded them poorly and profits were smaller than they could have been.
We have also purchased the successor banks for two of them. We initiated positions in UBS Group AG (NYSE:UBS), which has purchased Credit Suisse under advantageous terms, and First Citizens Bank, which purchased much of Silicon Valley Bank on even more advantageous terms.
We will go through each of these banks in turn as they are (a) interesting in their own right and (b) have resulted in some changes in our portfolio.
Swiss banks were sharply weakened by the end of banking secrecy. Historically, Switzerland was a clean place to hide your dirty money and Swiss Banking was almost synonymous with tax avoidance.…” (Click here to read the full text)
15. T. Rowe Price Group, Inc. (NASDAQ:TROW)
AUM: $1.35 trillion
T. Rowe Price Group, Inc. (NASDAQ:TROW) is an international investment management corporation specializing in a variety of financial services primarily associated with investment and asset management. Presently, the company disburses a quarterly dividend of $1.22 per share, yielding 4.61% as of September 28. Notably, T. Rowe Price Group, Inc. has consistently increased its dividends annually for the last 37 years.
At the end of Q2 2023, 24 hedge funds in Insider Monkey’s database owned investments in T. Rowe Price Group, Inc. (NASDAQ:TROW), up from 21 in the previous quarter. The collective value of these stakes is over $309 million. With roughly 1.5 million shares, Citadel Investment Group was the company’s largest stakeholder in Q2.
14. Northern Trust Corporation (NASDAQ:NTRS)
AUM: $1.37 trillion
Northern Trust Corporation, based in Chicago, Illinois, is a prominent American financial services firm specializing in services for corporations, institutional investors, and individuals with ultra high net worth. Renowned as a market leader in wealth management, the company provides an extensive range of holistic solutions, encompassing financial planning, private banking, trust and estate services, philanthropy, and family office services.
On July 19, Northern Trust Corporation (NASDAQ:NTRS) declared a $0.75 per share quarterly dividend, in line with previous. The dividend was payable on October 1, to shareholders of record on September 8.
According to Insider Monkey’s second quarter database, 32 hedge funds held stakes worth $448.3 million in Northern Trust Corporation (NASDAQ:NTRS). John W. Rogers’ Ariel Investments is a prominent position holder in the company, with 2.5 million shares worth $185.8 million.
13. Franklin Resources, Inc. (NYSE:BEN)
AUM: $1.38 trillion
Franklin Resources, Inc. (NYSE:BEN) is a multinational holding corporation based in the United States, collectively known as Franklin Templeton alongside its subsidiaries. Originating as Franklin Distributors, Inc. in New York City in 1947, it has grown into a global investment firm. The company provides a diverse array of investment solutions, including equity, hybrid, fixed income, and alternative investment products, as well as mutual funds. The company pays a quarterly dividend of $0.30 per share and has raised its dividends consistently for the past 47 years. The stock’s dividend yield on October 7 came in at 5.00%.
At the end of Q2 2023, 19 hedge funds in Insider Monkey’s database owned stakes in Franklin Resources, Inc. (NYSE:BEN), compared with 28 a quarter earlier. The consolidated value of these stakes is roughly $170 million. With nearly 2 million shares, Balyasny Asset Management was the company’s leading stakeholder in Q2.
12. Bank of America Corporation (NYSE:BAC)
AUM: $1.4 trillion
Bank of America Corporation (NYSE:BAC) is a prominent American multinational investment bank and financial services holding company, headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. It serves a wide range of clients, including individual consumers, small and mid-sized businesses, institutional investors, large corporations, and governments globally. The bank currently pays a quarterly dividend of $0.24 per share, yielding 3.68% as of October 7.
On July 18, Bank of America Corporation (NYSE:BAC) disclosed its Q2 GAAP EPS, standing at $0.88, exceeding Wall Street forecasts by $0.05. Furthermore, the revenue for the quarter totaled $25.2 billion, showcasing a 2.9% year-over-year increase and outperforming market projections by $260 million.
Based on Insider Monkey’s database for the second quarter, 90 hedge funds expressed a bullish stance on Bank of America Corporation (NYSE:BAC), compared to 91 in the previous quarter. Warren Buffett’s Berkshire Hathaway holds the highest stake in the firm, with an ownership of nearly 1.03 billion shares valued at approximately $29.6 billion.
11. Prudential Financial, Inc. (NYSE:PRU)
AUM: $1.41 trillion
Prudential Financial, Inc. (NYSE:PRU) is a diversified financial services firm operating across various sectors within the financial industry, providing a wide array of services to its clientele. On August 8, the company announced a quarterly dividend of $1.25 per share, consistent with its previous dividend payout. One of the top asset managers on our list, the company has consistently increased its payouts for 15 consecutive years. The dividend yield for the stock stood at 5.38% as of October 7.
By the close of Q1 2023, 30 hedge funds monitored by Insider Monkey disclosed holdings in Prudential Financial, Inc. (NYSE:PRU), representing an increase from 29 in the preceding quarter. The combined value of these holdings exceeded $275.5 million.
10. Invesco Ltd. (NYSE:IVZ)
AUM: $1.48 trillion
Invesco Ltd. (NYSE:IVZ) is an independent investment management company based in Atlanta, Georgia, with supplementary branch offices spanning across 20 countries. The company provides an extensive array of actively-managed mutual funds, both domestic and international, specializing in various areas including fixed income. These offerings are designed to tailor investors’ portfolios to suit their specific requirements.
22 of the 910 hedge funds part of Insider Monkey’s database had owned Invesco Ltd. (NYSE:IVZ)’s shares during Q2 2023. Nelson Peltz’s Trian Partners is its largest investor through a $570.5 million stake.
9. Morgan Stanley (NYSE:MS)
AUM: $1.52 trillion
Morgan Stanley (NYSE:MS), based in Midtown Manhattan, New York City, is a multinational investment bank and financial services company. Operating in 41 countries with a workforce exceeding 75,000 employees, the firm serves a diverse clientele, ranging from corporations and governments to institutions and individuals.
On July 18, Morgan Stanley (NYSE:MS) announced a quarterly dividend of $0.85 per share, marking a notable 9.7% increase from its previous dividend of $0.78. The dividend is scheduled to be paid out on August 15 to shareholders recorded as of July 31.
As per Insider Monkey’s database for the second quarter, Morgan Stanley (NYSE:MS) was included in 54 hedge fund portfolios, an increase from 51 in the prior quarter. Adage Capital Management, managed by Phill Gross And Robert Atchinson, stands as a significant stakeholder in the company, holding 1.29 million shares valued at $110.85 million.
8. The Bank of New York Mellon Corporation (NYSE:BK)
AUM: $1.91 trillion
The Bank of New York Mellon Corporation (NYSE:BK), also referred to as BNY Mellon, is a financial services holding company based in New York City, specializing in investment banking. It was established in 2007 through the merger of The Bank of New York and Mellon Financial Corporation.
As of the end of the first quarter, 52 hedge funds in Insider Monkey’s database have stakes in The Bank of New York Mellon Corporation (NYSE:BK), compared to 56 in the preceding quarter. These stakes have a total value of roughly $1.41 billion. Among these hedge funds, First Eagle Investment Management was the company’s largest stakeholder at the end of June.
The Bank of New York Mellon Corporation (NYSE:BK) joins the ranks of Bank of America Corporation (NYSE:BAC), Blackstone Inc. (NYSE:BX), and BlackRock, Inc. (NYSE:BLK) as a notable player in the asset management industry.
7. Amundi S.A. (EPA:AMUN)
AUM: $2.1 trillion
Amundi S.A. (EPA:AMUN), a prominent asset management company in Europe and a top 10 global player, provides a comprehensive array of savings and investment solutions to its extensive client base of 100 million individuals, encompassing retail, institutional, and corporate clients. These solutions cover both active and passive management, involving traditional as well as real assets.
Amundi S.A. (epa:amun) reported higher-than-anticipated inflows for the second quarter, benefiting from a resurgence in Asia, where clients returned after several consecutive quarters of fund outflows. In total, its clients contributed €3.7 billion ($4.1 billion) during the three months ending in June, as disclosed by the Paris-based company on Friday. Analysts had projected inflows of €3.5 billion. Asia played a significant role, contributing €900 million of the total, especially noteworthy since investors had withdrawn billions of euros in the preceding quarters.
6. Allianz SE (ETR:ALV)
AUM: $2.43 trillion
Allianz SE (ETR:ALV), originally established in 1890 as “Allianz Versicherungs-Aktiengesellschaft,” is an insurance company headquartered in Munich, Germany. It operates across more than 70 countries, serving a customer base exceeding 122 million, facilitated by its workforce of 159,000 employees. The company is structured into three principal business segments: Property-Casualty, Life/Health, and Asset Management. The Asset Management division delivers investment management and advisory services to both institutional and retail clients. As of October 7, the Allianz SE (ETR:ALV) stock presents an annual forward dividend yield of 5.12%.
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Disclosure: None. 25 Biggest Publicly Traded Asset Managers is originally published on Insider Monkey.
