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.)
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