Total assets under management of the world’s largest 500 managers grew 15.6% to US$ 93.8 trillion (€82.4 trillion) in 2017, according to a report from the Thinking Ahead Institute.
The report showed that the concentration of assets managed by the 20 largest managers reached the highest level since 2000, and now accounts for over 43% of the top 500 managers’ total AuM.
The research also shows that North America-based managers represent the majority of total assets (58.1%), although their share fell slightly in 2017, the first fall since 2008.
European managers represent 31.8% of assets managed (the UK being 7.4%), Japan 4.8% and the rest of the world 5.2%.
Assets in each region grew in 2017. While the majority of total assets (77.6%) are still managed actively, the share of passive assets has grown from 19.5% to 22.4% in the last five years. In 2017 passive assets grew 25%.
BlackRock remains the largest asset manager in the rankings, a position it has held since 2008 and Vanguard and State Street complete the top three for the fourth successive year.
Bob Collie, head of research at the Thinking Ahead Institute, said: “On the surface, the numbers might appear to tell a story of steady growth and of stability. But when you look at broader developments within and beyond the industry, there are signs that the industry is facing significant change.”
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