Top 500 investment managers see assets drop by $18 trillion
23 Outubro 2023 - 1:00PM
Total assets under management (AuM) at the world’s 500 largest
asset managers amounted to $113.7 trillion at the end of 2022,
according to new research from WTW’s Thinking Ahead Institute. This
represents a 13.7% drop on the previous year, which is the first
significant fall in assets managed since the global financial
crisis of 2008.
Differences exist among regions. While Japanese
managers within the world’s largest 500 fared much better than
average with a 5.5% decrease in assets, North American asset
managers saw a 14.2% decrease, and Europe (including the U.K.)
experienced an above-average 16.8% decrease.
The research also reveals the continued
evolution of active versus passive AuM among the largest investment
managers. Investment in passively managed funds has come to account
for 34.7% of the total as of 2022, up four percentage points from
the previous year. Notably, among the world’s largest managers,
this still leaves a considerable majority of 65.3% actively managed
assets.
Among asset classes, the fall in equity and bond
markets caused a gentle shift in weightings, with alternative
investments increasing to 7.1% of assets managed. The market falls
caused the combined equity and fixed-income allocation to decrease
by 2.4 percentage points from a very stable 79% – 80% share over
the past 10 years.
The falls in equities and bonds also impacted
the degree of consolidation within the top 20 managers. It is very
hard for extremely large managers to have an above-average exposure
to less liquid asset classes, and so the top 20 were
disproportionately hit by the mainstream market falls. The top 20
firms’ share of the total assets decreased from 45.2% in 2021 to
44.2% in 2022. Their total AuM decreased year-on-year to $50.3
trillion.
Turning to individual asset managers, the
research shows that BlackRock remains the world’s largest asset
manager, despite seeing a drop in AuM from just over $10 trillion
to just over $8 trillion in 2022. The Vanguard Group is still
significantly ahead of Fidelity Investments and State Street Global
— ranked third and fourth, respectively — which each saw assets dip
to below $4 trillion.
“Throughout 2022, amid significant turbulence,
high inflation and interest rates, and geopolitical tension,
investors faced losses that effectively erased most of the gains
achieved during the record-breaking 2021,” said Jessica Gao,
director at the Thinking Ahead Institute. “As we have conducted
this research, a common theme throughout our conversations with
managers has been to expect a higher-for-longer regime in interest
rates in which concerns about inflation and growth remain elevated,
suggesting investment managers are not out of the woods yet.
“The need to consider sustainability issues and
adapt to systemic risk means forward-thinking and robust investment
processes that are able to model and measure risks like never
before. Looking ahead, this awareness of system-level risks could
offer support to the investment world as it grapples with the
generational challenge of climate change impacts and other
sustainability issues.”
The world’s largest money managers Ranked by
total AuM, in US$ millions
Rank |
Fund |
Market |
Total assets (US$ millions) |
1. |
BlackRock |
U.S. |
$8,594,488 |
2. |
Vanguard Group |
U.S. |
$7,252,612 |
3. |
Fidelity Investments |
U.S. |
$3,655,574 |
4. |
State Street Global |
U.S. |
$3,481,473 |
5. |
J.P. Morgan Chase |
U.S. |
$2,766,000 |
6. |
Goldman Sachs Group |
U.S. |
$2,547,000 |
7. |
Allianz Group |
Germany |
$2,285,496 |
8. |
Capital Group |
U.S. |
$2,175,965 |
9. |
Amundi |
France |
$2,031,753 |
10. |
UBS |
Switzerland |
$1,845,000 |
11. |
BNY Mellon |
U.S. |
$1,836,032 |
12. |
Legal & General Group |
U.K. |
$1,444,393 |
13. |
Invesco |
U.S. |
$1,409,204 |
14. |
Franklin Templeton |
U.S. |
$1,387,686 |
15. |
Prudential Financial |
U.S. |
$1,377,417 |
16. |
T. Rowe Price Group |
U.S. |
$1,274,700 |
17. |
BNP Paribas |
France |
$1,269,246 |
18. |
Northern Trust |
U.S. |
$1,249,500 |
19. |
Morgan Stanley Inv. Mgmt |
U.S. |
$1,234,226 |
20. |
Natixis Investment Managers |
France |
$1,151,280 |
Notes to editors:
Figures were the latest available as of Dec. 31, 2022
About the Thinking Ahead
Institute
The Thinking Ahead Institute was established in
January 2015 and is a global not-for-profit investment research and
innovation member group made up of engaged institutional asset
owners and service providers committed to changing and improving
the investment industry for the benefit of the end saver. It has
over 55 members around the world and is an outgrowth of WTW
Investments’ Thinking Ahead Group, which was set up in 2002.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven,
insight-led solutions in the areas of people, risk and capital.
Leveraging the global view and local expertise of our colleagues
serving 140 countries and markets, we help organizations sharpen
their strategy, enhance organizational resilience, motivate their
workforce and maximize performance.
Working shoulder to shoulder with our clients,
we uncover opportunities for sustainable success—and provide
perspective that moves you.
Learn more at wtwco.com.
Media contacts
Ileana Feoli: +1 212 309 5504Ileana.feoli@wtwco.com
Ed Emerman: +1 609 240 2766Eemerman@eaglepr.com
Willis Towers Watson Pub... (NASDAQ:WTW)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Willis Towers Watson Pub... (NASDAQ:WTW)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024