French asset managers enjoy the largest amount of average European assets under management (AUM), according to Funds Europe research launched today that ranks the Top 200 global firms and Top 50 European firms.
French firms in our European Top 50 manage an average of €581 billion, followed by German firms with €411 billion per firm. Italian and UK firms follow.
Funds Europe’s exclusive research centres on asset management firms from around the world that have business in Europe.
The European Top 50 captures asset managers with €13,385 billion of European AUM. Europe’s firms managed €12,678 billion of this, while US firms manage €472 billion.
Average European AUM for all firms in the Top 50 is €273 billion.
The French figure is highly influenced by Amundi, which is the largest Top 50 firm in our ranking and the only firm to have over €1 trillion in European AUM. Alone, Amundi represents 12% of total European AUM.
However, the world’s largest asset manager – BlackRock – did not provide figures for European AUM. Yet this week, in his shareholder letter, Larry Fink, CEO of BlackRock, revealed that the firm manages $2.7 trillion for British and European clients, including around 500 pension schemes. That works out at around €2.5 trillion.
Top 200 global firms
Based on the survey criteria, the Top 200 global AUM research captures firms with an aggregate of €95 trillion of global assets under management, with just over half of them being European firms.
The US has 71 firms in the Top 200. However, with €62,938 billion of AUM, US firms control 66% of the Top 200 assets. This means that whereas average global AUM for European firms was €249 billion, US firms managed an average of €886 billion each at the time our survey took place.
“The fact that France has the largest average assets under management in Europe and that US firms have the greater average amount at the global level could show how these firms have attained greater efficiencies through scale, not only at the national level but also across borders,” said Nick Fitzpatrick, Funds Europe’s editor.
Luke Beacon, research editor and co-author of the report, said: “We wanted through this research to try and cast light on which countries have – for one reason or another – arguably fostered the healthiest firms from an operational point of view. This was a key aim of our research – as well as focusing on where European firms sit competitively in relation to US firms operating on the European continent”.
Among a number of other metrics, the Funds Europe Top 200 also considers EU asset sizes versus the AUM of European firms that are not in the EU.
