The world's largest money managers

The P&I/Towers Watson World 500, ranked by total assets under management, in U.S. millions, as of Dec. 31, 2010.
RankManagerCountryTotal assets
1 BlackRock (BLK)U.S.$3,560,968
2State Street GlobalU.S.$2,010,447
3Allianz GroupGermany$2,009,949
4 Fidelity InvestmentsU.S.$1,811,901
5 Vanguard GroupU.S.$1,764,960
6Deutsche BankGermany$1,562,352
7AXA GroupFrance$1,462,966
8BNP ParibasFrance$1,313,882
9J.P. Morgan ChaseU.S.$1,303,372
10Capital GroupU.S.$1,223,412
11 Bank of New York Mellon (BK)U.S.$1,172,314
12UBSSwitzerland$933,209
13HSBC HoldingsU.K.$925,000
14 Amundi Asset Mgmt.1France$915,016
15 Goldman Sachs Group (GS)U.S.$840,000
16 Prudential FinancialU.S.$784,046
17NatixisFrance$719,336
18 Legg Mason (LM)U.S.$671,799
19 Franklin Templeton (BEN)U.S.$670,719
20Nippon Life InsuranceJapan$656,153
21Bank of AmericaU.S.$643,955
22Northern Trust GlobalU.S.$643,600
23Wellington Mgmt.U.S.$633,918
24Generali GroupItaly$623,997
25 Invesco (IVZ)U.S.$616,525
26 MetLifeU.S.$606,561
27Ameriprise FinancialU.S.$568,500
28Wells FargoU.S.$568,100
29Legal & General GroupU.K.$564,578
30Zenkyoren1Japan$539,578
31Mitsubishi UFJ FinancialJapan$533,094
32PrudentialU.K.$526,063
33 ING GroupNetherlands$512,846
34Old MutualSouth Africa$499,304
35T. Rowe PriceU.S.$482,000
36Manulife FinancialCanada$476,847
37Sun Life FinancialCanada$464,141
38 TIAA-CREFU.S.$463,140
39Credit SuisseSwitzerland$454,151
40MassMutual FinancialU.S.$448,300
41 Morgan Stanley (MS)U.S.$426,162
42AvivaU.K.$401,836
43Dai-ichi Life InsuranceJapan$380,168
44DZ BANKGermany$375,830
45APG Group2Netherlands$364,416
46Rabobank GroupNetherlands$358,321
47 Federated Investors (FII)U.S.$358,241
48Shinkin Central Bank3Japan $355,454
49Great-West LifecoCanada$349,534
50Affiliated Managers GroupU.S.$320,046
51Principal FinancialU.S.$318,800
52Intesa SanPaoloItaly$309,493
53Hartford FinancialU.S.$309,300
54Meiji Yasuda Life Insurance3Japan$306,745
55Sumitomo Trust & Banking3Japan$306,500
56 SchrodersU.K.$304,198
57Zurich Financial ServicesSwitzerland$303,845
58Northwestern MutualU.S.$297,088
59Lloyds Banking GroupU.K.$296,984
60Chuo Mitsui TrustJapan$296,120
61Aberdeen Asset Mgmt.U.K.$283,532
62Sumitomo Life Insurance3Japan$282,507
63Aegon GroupNetherlands$280,667
64Nomura HoldingsJapan$277,051
65MEAG Munich ERGO3Germany$267,680
66Royal Bank of CanadaCanada$265,819
67 New York Life InvestmentsU.S.$259,401
68Samsung GroupSouth Korea$252,748
69Macquarie Bank GroupAustralia$252,370
70Unicredit GroupItaly$247,406
71Standard LifeU.K.$245,607
72DekaBank GroupGermany$222,467
73Resona BankJapan$209,788
74 Dimensional Fund AdvisorsU.S.$206,427
75SEBSweden$206,241
76Caisse de Depot et PlacementCanada$199,084
77 Nuveen InvestmentsU.S.$196,802
78BBVASpain$196,695
79Charles Schwab InvestmentU.S.$192,486
80Banco Santander CentralSpain$191,867
81 Neuberger BermanU.S.$189,963
82Banco do BrazilBrazil$189,693
83 Dodge & CoxU.S.$189,354
84 Eaton Vance (EV)4U.S.$185,243
85TD Asset Mgmt.Canada$183,658
86Janus Capital GroupU.S.$169,500
87La Poste5France$165,646
88Daiwa Securities Group3Japan$164,284
89F&C Asset Mgmt.U.K.$163,592
90Lombard Odier Darier HentschSwitzerland$159,432
91LazardU.S.$155,337
92Commonwealth Bank GroupAustralia$155,262
93Itau-Unibanco Banco MultiploBrazil$153,510
94Credit MutuelFrance$151,995
95NordeaDenmark$144,042
96PGGMNetherlands$136,490
97Le Groupe LCF RothschildFrance$132,515
98Pictet Asset Mgmt.Switzerland$130,550
99IGM Financial GroupCanada$129,470
100CommerzbankGermany$127,214
101Banco SabadellSpain$127,212
102Swiss Life GroupSwitzerland$127,090
103Nikko Asset Mgmt.Japan$125,824
104GAM HoldingSwitzerland$125,207
105Brookfield Asset Mgmt.Canada$121,558
106GE Asset Mgmt.U.S.$119,452
107GroupamaFrance$119,126
108Banco BradescoBrazil$118,248
109Dexia Asset Mgmt.Belgium$115,910
110 SEI Investments (SEIC)U.S.$112,228
111SwedbankSweden$111,302
112Stifel FinancialU.S.$110,600
113U.S. BankU.S.$110,473
114Lord, AbbettU.S.$109,864
115Talanx GroupGermany$109,855
116Baillie GiffordU.K.$108,568
117PNC FinancialU.S.$107,965
118Danske BankDenmark$107,102
119Grantham, Mayo v. OtterlooU.S.$106,846
120Pearl Group6U.K.$106,728
121SunTrust BanksU.S.$105,100
122American CenturyU.S.$103,425
123 Nationwide FinancialU.S.$100,986
124Geode Capital Mgmt.U.S.$99,707
125AMPAustralia$99,611
126 Henderson Global InvestorsU.K.$95,282
127Mn ServicesNetherlands$93,756
128EFG GroupSwitzerland$93,085
129MS&AD Insurance Group3Japan$92,190
130Mitsui Life Insurance3Japan$92,141
131 Bridgewater AssociatesU.S.$89,330
132General Re - New EnglandU.S.$89,242
133Investec GroupSouth Africa$88,332
134DnB NORNorway$86,245
135Waddell & ReedU.S.$83,673
136Oaktree CapitalU.S.$82,449
137 PineBridge InvestmentsU.S.$82,075
138Regions FinancialU.S.$80,000
139SanlamSouth Africa$78,525
140Caixa Economica FederalBrazil$77,379
141CIBC GroupCanada$76,666
142Conning Asset Mgmt.U.S.$76,438
143Sumitomo Mitsui Asset Mgmt.Japan$75,882
144MapfreSpain$74,833
145Thornburg InvestmentU.S.$73,435
146CI FinancialCanada$72,808
147Davis AdvisorsU.S.$71,269
148NAB/MLCAustralia$70,772
149Baloise Asset Mgmt.Switzerland$70,420
150Korea Investment Holdings3South Korea$69,666
151PRIMECAPU.S.$69,267
152Union Bancaire PriveeSwitzerland$69,087
153Storebrand GroupNorway$68,949
154Asahi Mutual Life InsuranceJapan$68,693
155Fukoku Mutual Life Insurance7Japan$68,646
156Man InvestmentsU.K.$68,600
157Mondrian InvestmentU.K.$68,386
158IDUNA GroupGermany$67,583
159Monte dei Paschi di SienaItaly$66,982
160LSV Asset Mgmt.U.S.$64,212
161MMI HoldingsSouth Africa$63,791
162Tokio Marine HoldingsJapan$63,574
163Royal London GroupU.K.$62,274
164GuggenheimU.S.$61,065
165 Kohlberg Kravis RobertsU.S.$60,998
166SwisscantoSwitzerland$60,948
167 KeyCorpU.S.$59,816
168NISA InvestmentU.S.$57,729
169 Artisan PartnersU.S.$57,454
170QICAustralia$56,806
171SNS Asset Mgmt.Netherlands$56,186
172 Payden & RygelU.S.$55,084
173NKSJ Holdings3Japan$54,664
174Metzler Seel SohnGermany$54,331
175Royal Bank of ScotlandU.K.$54,138
176Artio Global Mgmt.U.S.$53,407
177Mirae Asset Financial GroupSouth Korea$53,033
178Marathon Asset Mgmt.U.K.$52,790
179Hanwha GroupSouth Korea$52,532
180First Eagle InvestmentU.S.$51,961
181 Mesirow FinancialU.S.$50,845
182Caja EspanaSpain$50,672
183Versicherungskammer BayernGermany$49,320
184SegurCaixa HoldingSpain$48,486
185Warburg GroupGermany$47,870
186Brandes InvestmentU.S.$47,768
187Bayerischen LandesbankGermany$47,475
188 American Beacon AdvisorsU.S.$46,831
189Ashmore InvestmentU.K.$46,700
190 Jarislowsky FraserCanada$46,589
191STANLIBSouth Africa$46,408
192KBC Asset Mgmt.Belgium$44,499
193 William BlairU.S.$44,186
194 AGF InvestmentsCanada$44,079
195Vontobel Asset Mgmt.Switzerland$43,835
196China Asset Mgmt.China $43,820
197 Wilmington TrustU.S.$43,640
198Allan GraySouth Africa$43,326
199Westpac/BTAustralia$43,185
200LaSalle InvestmentU.S.$43,023
201Raiffeisen Capital8Austria$42,405
202Irish Life & Permanent GroupIreland$41,766
203Banco Popolare SocietÓItaly$41,580
204 Fisher InvestmentsU.S.$41,323
205MediolanumItaly$40,984
206Desjardins GroupCanada$40,970
207Cutwater Asset Mgmt.U.S.$40,730
208PFM Asset Mgmt.U.S.$40,368
209 Brown Brothers HarrimanU.S.$40,199
210FolksamSweden$39,803
211HermesU.K.$39,635
212GoodmanCanada$39,291
213Connor, Clark & LunnCanada$39,004
214Manning & NapierU.S.$38,836
215Ares Mgmt.U.S.$38,763
216Fort WashingtonU.S.$38,148
217 CB Richard Ellis InvestorsU.S.$37,602
218Wiener StadtischeAustria$37,315
219JupiterU.K.$37,278
220Harvest Fund Mgmt.China $37,060
221City NationalU.S.$36,754
222BB&TU.S.$36,669
223Berenberg BankGermany$36,547
224PaulsonU.S.$36,204
225AQR Capital Mgmt.U.S.$35,800
226 HarbourVest PartnersU.S.$35,653
227Greystone ManagedCanada$35,392
228 Calamos Advisors (CLMS)U.S.$35,144
229Northern CrossU.S.$35,076
230Southeastern Asset Mgmt.U.S.$34,639
231Cohen & SteersU.S.$34,462
232Bank of IrelandIreland$34,454
233 Research AffiliatesU.S.$34,421
234 Arrowstreet CapitalU.S.$34,179
235Caixa Gestao de ActivosPortugal$34,042
236SafraBrazil$33,809
237Coronation Fund ManagersSouth Africa$33,669
238Marshall & IlsleyU.S.$33,600
239Raymond James FinancialU.S.$33,363
240Bank Degroof7Belgium$32,864
241LGT GroupSwitzerland$32,696
242 GAMCO Investors (GBL)U.S.$32,522
243Uniqa Finanz GroupAustria$32,130
244Gruppo BipiemmeItaly$31,757
245Clifton GroupU.S.$31,433
246Record CurrencyU.K.$31,400
247 Van Eck AssociatesU.S.$31,275
248Stone Harbor InvestmentU.S.$29,930
249E Fund Mgmt.China $29,856
250Ohio NationalU.S.$29,626
251Virtus InvestmentU.S.$29,473
252Fiera SceptreCanada$29,260
253Helaba InvestGermany$28,715
254Bosera Asset Mgmt.China $28,528
255 Partners GroupSwitzerland$28,374
256UMB FinancialU.S.$27,900
257Industry Funds Mgmt.Australia$27,771
258SCORFrance$27,667
259Co-operators GroupCanada$27,347
260NurnbergerGermany$26,912
261 Strategic Investment GroupU.S.$26,742
262PerpetualAustralia$26,724
263OP Bank GroupFinland$26,503
264Bank SyzSwitzerland$26,359
265Income Research & Mgmt.U.S.$26,290
266Challenger FinancialAustralia$26,186
267 CommonfundU.S.$25,910
268 Inland GroupU.S.$25,800
269Highland Capital (Texas)U.S.$25,663
270National Bank of CanadaCanada$25,658
271 DuPont CapitalU.S.$25,540
272Silchester InternationalU.S.$25,462
273ESAFPortugal$25,178
274Alexander ForbesSouth Africa$25,121
275 Fifth Third BancorpU.S.$25,000
276American United LifeU.S.$24,400
277Gartmore1U.K.$24,308
278Pathway CapitalU.S.$24,198
279 Security Global InvestorsU.S.$24,195
280Arca SGRItaly$23,788
281 HinesU.S.$23,749
282 RhumbLine AdvisersU.S.$23,713
283Beutel GoodmanCanada$23,368
284 Fayez SarofimU.S.$23,253
285Angelo, GordonU.S.$23,000
286Royal & SunAllianceU.K.$22,892
287Kyobo Life Insurance3South Korea$22,450
288 HeitmanU.S.$22,386
289Gruppo Bancario EmilianoItaly$22,380
290Perennial InvestmentAustralia$22,370
291Reliance Capital1India$22,327
292 ICMA RetirementU.S.$22,294
293Brown Advisory HoldingsU.S.$22,178
294 Commerce TrustU.S.$21,700
295Advantus CapitalU.S.$21,396
296 Adams Street PartnersU.S.$21,367
297F Van LanschotNetherlands$20,900
298Alte Leipziger HoldingGermany$20,818
299 First ReserveU.S.$19,817
300Aronson + Johnson + OrtizU.S.$19,804
301King Street CapitalU.S.$19,800
302 RS InvestmentsU.S.$19,797
303Caja Madrid9Spain$19,612
304Boston Private FinancialU.S.$19,549
305PetercamBelgium$19,458
306Gruppo AzimutItaly$19,364
307Sprucegrove InvestmentCanada$19,361
308Pirelli & C.Italy$19,347
309HDFC Asset Mgmt.1India$18,939
310Rainier InvestmentU.S.$18,792
311VotorantimBrazil$18,413
312 TT InternationalU.K.$18,321
313COMGEST1France$18,287
314Gulf International BankU.K.$18,200
315 Hotchkis & WileyU.S.$18,144
316Platinum Asset Mgmt.Australia$18,101
317Turner InvestmentU.S.$17,975
318Robert W. BairdU.S.$17,917
319China Southern FundChina $17,899
320Bentall KennedyU.S.$17,694
321Munder CapitalU.S.$17,559
322 Baron Capital GroupU.S.$17,553
323 Martin CurrieU.K.$17,479
324 EARNEST PartnersU.S.$17,310
325 Starwood CapitalU.S.$17,300
326Artemis InvestmentU.K.$17,228
327Oddo et CieFrance$17,227
328Mirabaud GroupSwitzerland$16,860
329BI HoldingDenmark$16,723
330Goodwin CapitalU.S.$16,681
331 BOK FinancialU.S.$16,635
332Beacon CapitalU.S.$16,484
333Carnegie InvestmentSweden$16,216
334Svenska HandelsbankenSweden$16,216
335Hamilton LaneU.S.$15,937
336GF Fund Mgmt.China $15,647
337BCVSwitzerland$15,518
338Grupo Banco PopularSpain$15,515
339 Westbrook PartnersU.S.$15,500
340Fred Alger Mgmt.U.S.$15,357
341World Asset Mgmt.U.S.$15,261
342Wentworth, Hauser & ViolichU.S.$15,218
343Madison InvestmentU.S.$15,191
344Westfield CapitalU.S.$15,137
345Da Cheng Fund Mgmt.China $15,014
346 Montag & CaldwellU.S.$14,950
347CaserSpain$14,852
348UTI Asset Mgmt.1India$14,748
349Calvert Asset Mgmt.U.S.$14,692
350 First Pacific AdvisorsU.S.$14,525
351 Cramer Rosenthal McGlynnU.S.$14,489
352 Edinburgh PartnersU.K.$14,399
353 Huntington Asset AdvisorsU.S.$14,399
354 Epoch Investment PartnersU.S.$14,326
355McDonnell InvestmentU.S.$14,284
356BPIPortugal$14,198
357Axiom InternationalU.S.$13,815
358Gruppo Banca CarigeItaly$13,704
359 Guardian CapitalCanada$13,697
360Mutual of AmericaU.S.$13,662
361GoldenTree Asset Mgmt.U.S.$13,400
362MTB InvestmentU.S.$13,321
363Prescient Invesment ManagerSouth Africa$12,978
364Yinhua Fund Mgmt.China $12,917
365Close Brothers Group10U.K.$12,865
366Oak Hill AdvisorsU.S.$12,840
367Grupo MarchSpain$12,670
368Emerging Markets Mgmt.U.S.$12,632
369Maple-Brown AbbottAustralia$12,600
370 Colchester Global InvestorsU.K.$12,581
371Westwood HoldingsU.S.$12,477
372Hua An Fund Mgmt.China $12,467
373Universal-InvestmentGermany$12,456
374Annaly Capital Mgmt.U.S.$12,400
375Liverpool Victoria FriendlyU.K.$12,374
376Piper JaffrayU.S.$12,297
377Causeway CapitalU.S.$12,181
378IbercajaSpain$12,127
379Insurance Australia GroupAustralia$11,990
380Gresham InvestmentU.S.$11,914
381McKinley CapitalU.S.$11,910
382 Atalanta Sosnoff CapitalU.S.$11,899
383 Amalgamated BankU.S.$11,844
384 Horsley Bridge PartnersU.S.$11,752
385 Logan Circle PartnersU.S.$11,708
386 C.S. McKeeU.S.$11,594
387UnigestionSwitzerland$11,500
388Neptune InvestmentU.K.$11,213
389KDB AMCSouth Korea$10,969
390Tocqueville Asset Mgmt.U.S.$10,944
391 Prime AdvisorsU.S.$10,921
392Maverick CapitalU.S.$10,920
393AIB Investment ManagersIreland$10,846
394UBI BancaItaly$10,846
395Leith Wheeler InvestmentCanada$10,832
396Charter Hall GroupAustralia$10,568
397 MGPABermuda$10,518
398 Walton Street CapitalU.S.$10,515
399STW Fixed IncomeU.S.$10,499
400SulAmerica InvestimentosBrazil$10,476
401Balanced Equity Mgmt.Australia$10,246
402Fiduciary Mgmt./MilwaukeeU.S.$10,233
403 Kimco RealtyU.S.$10,200
404Wintrust FinancialU.S.$10,200
405J O Hambro CapitalU.K.$10,056
406Marathon AssetU.S.$10,000
407 Wasatch AdvisorsU.S.$9,945
408Pacific Alternative AssetU.S.$9,872
409Lend LeaseAustralia$9,856
410Sit InvestmentU.S.$9,752
411 Numeric InvestorsU.S.$9,714
412Jacobs Levy EquityU.S.$9,674
413 Sage Advisory ServicesU.S.$9,453
414Ersel GroupItaly$9,409
415 Colony CapitalU.S.$9,400
416 K2 AdvisorsU.S.$9,394
417Fullgoal Fund Mgmt.China $9,388
418Financial Risk Mgmt.U.S.$9,311
419Synovus FinancialU.S.$9,250
420BankinterSpain$9,201
421State Bank of India1India$9,147
422WEDGE CapitalU.S.$9,088
423 RamiusU.S.$9,041
424Denver InvestmentsU.S.$8,989
425 DRA AdvisorsU.S.$8,954
426International Fund Mgmt.China $8,934
427 Landmark PartnersU.S.$8,925
428Portfolio AdvisorsU.S.$8,802
429ICBC Credit SuisseChina $8,738
430 Lee Overlay PartnersU.K.$8,684
431Diamond Hill CapitalU.S.$8,613
432China Universal Asset Mgmt.China $8,597
433Iridian Asset Mgmt.U.S.$8,521
434Penghua Fund Mgmt.China $8,520
435Burgundy Asset Mgmt.Canada$8,387
436Lupus Alpha Asset Mgmt.11Germany$8,312
437 JER PartnersU.S.$8,140
438Titanium Asset Mgmt.U.S.$8,125
439Luther King CapitalU.S.$8,111
440ASB Capital Mgmt.U.S.$8,077
441Bank of Comm. SchrodersChina $8,000
442 FX ConceptsU.S.$7,965
443Rongtong Fund Mgmt.China $7,960
444Mawer InvestmentCanada$7,946
445Value PartnersHong Kong$7,937
446SPARX GroupJapan $7,783
447 SkyBridge CapitalU.S.$7,776
448MillenniumPortugal$7,691
449Acuity Investments Mgmt.Canada$7,688
450Fortune SG Fund Mgmt.China $7,452
451Eagle CapitalU.S.$7,379
452 M.D. Sass GroupU.S.$7,363
453CCB Principle Asset Mgmt.China $7,333
454Mercator Asset Mgmt.U.S.$7,314
455 Rock Creek GroupU.S.$7,300
456 Segall Bryant & HamillU.S.$7,237
457Aletheia Research & Mgmt.U.S.$7,235
458Kornitzer CapitalU.S.$7,175
459Guotai Fund Mgmt.China $7,146
460European InvestorsU.S.$7,136
461Cadiz HoldingsSouth Africa$7,124
462Samson CapitalU.S.$7,122
463Lion Fund Mgmt.China $7,090
464 Renaissance TechnologiesU.S.$7,082
465Kotak Mahindra Asset Mgmt.1India$7,068
466 KBS Realty AdvisorsU.S.$7,037
467 Invesco Great WallChina $7,013
468Odey Asset Mgmt.U.K.$7,000
469Abbott CapitalU.S.$6,964
470 AREA Property PartnersU.S.$6,931
471Driehaus CapitalU.S.$6,886
472Sound Shore Mgmt.U.S.$6,839
473Progress InvestmentU.S.$6,819
474Oechsle Int'lU.S.$6,737
475Northcape CapitalAustralia$6,706
476Los Angeles CapitalU.S.$6,696
477Congress Asset Mgmt.U.S.$6,678
478AEGON-INDUSTRIALChina $6,659
479Sanderson Asset Mgmt.U.K.$6,529
480Lloyd George Mgmt.British Virgin Islands$6,524
481JCP Investment PartnersAustralia$6,518
482Paradice InvestmentAustralia$6,507
483Smith BreedenU.S.$6,435
484KTB AMCSouth Korea$6,408
485Opportunity12Brazil$6,400
486 PCCPU.S.$6,390
487HFT China $6,352
488Silvercrest Asset Mgmt.U.S.$6,334
489Philadelphia Int'l AdvisorsU.S.$6,318
490Changsheng Fund Mgmt.China $6,225
491Keeley Asset Mgmt.U.S.$6,206
492Beach Point CapitalU.S.$6,200
493China Merchants Fund Mgmt.China $6,136
494Tortoise CapitalU.S.$6,119
495 EnTrust CapitalU.S.$6,089
496UBS SDIC Fund Mgmt.China $6,082
497Kairos PartnersItaly$6,073
498SBI Group3Japan$5,976
499Bank of China InvestmentChina $5,908
500 Crestline InvestorsU.S.$5,858
Total$64,710,808
1: As of March 31, 2011; 2: As of June 30, 2011; 3: As of March 31, 2010; 4: As of Oct. 31, 2010; 5: As of April 30, 2011; 6: As of June 30, 2010; 7: As of Sept. 30, 2010; 8: As of Jan. 30, 2011; 9: As of Nov. 30, 2010; 10: As of Jan. 31, 2011; 11: As of Oct. 12, 2010; 12: As of April 30, 2010

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