INTERACTIVE

The P&I/Thinking Ahead Institute World 300

Ranked by total assets, in U.S. millions. U.S. fund data are from the P&I 1,000, published Feb. 5, 2018; non-U.S. fund data are as of Dec. 31, 2017, unless otherwise noted.
RankFundCountryTotal assetsDB assetsDC assets
1Government Pension InvestmentJapan$1,443,554 $1,443,554
2Government Pension FundNorway$1,063,456
3National PensionSouth Korea$582,938 $582,938
4Federal Retirement ThriftU.S.$531,489 $531,489
5ABPNetherlands$494,796 $494,796
6National Social SecurityChina$456,853
7California Public EmployeesU.S.$336,684 $335,083 $1,601
8Canada Pension1Canada$283,454 $283,454
9Central Provident FundSingapore$269,133 $269,133
10PFZW1Netherlands$235,995 $235,995
11California State TeachersU.S.$216,193 $215,318 $875
12Local Government OfficialsJapan$209,880 $209,880
13New York State CommonU.S.$201,263 $201,263
14Employees Provident FundMalaysia$200,265 $200,265
15New York City RetirementU.S.$189,794 $189,794
16Florida State BoardU.S.$167,900 $157,562 $10,338
17Ontario Teachers2Canada$150,730 $150,730
18Texas TeachersU.S.$146,326 $146,326
19Employees’ ProvidentIndia$134,272 $134,272
20GEPF2South Africa$133,944 $133,944
21ATPDenmark$129,741 $129,741
22BoeingU.S.$121,717 $63,553 $58,164
23New York State TeachersU.S.$115,637 $115,637
24AT&TU.S.$113,582 $55,885 $57,697
25Wisconsin Investment BoardU.S.$109,960 $105,155 $4,805
26Future FundAustralia$108,545
27North CarolinaU.S.$106,946 $96,094 $10,852
28Nat’l Federation of Mutual AidJapan$106,629 $106,629
29Pension Fund Association1Japan$105,204 $105,204
30Washington State BoardU.S.$104,260 $86,615 $17,645
31IBMU.S.$103,676 $52,249 $51,427
32AustralianSuperAustralia$103,180
33AlectaSweden$101,415 $101,415
34Ohio Public EmployeesU.S.$97,713 $96,304 $1,409
35Labor Pension FundTaiwan$96,539 $31,281 $65,258
36General MotorsU.S.$96,284 $67,167 $29,117
37California UniversityU.S.$87,452 $64,378 $23,074
38Bayerische Versorgungskammer3Germany$86,556 $86,556
39Metaal/tech. BedrijvenNetherlands$86,185 $86,185
40PFA PensionDenmark$83,158 $83,158
41Universities Superannuation2U.K.$81,078 $81,078
42New JerseyU.S.$80,486 $76,361 $4,125
43Virginia RetirementU.S.$79,238 $76,023 $3,215
44General ElectricU.S.$78,839 $49,360 $29,479
45Public Service Pension Plan2Canada$78,330
46Royal Dutch Shell4Netherlands$78,105 $78,105
47Oregon Public EmployeesU.S.$77,495 $75,454 $2,041
48Ohio State TeachersU.S.$76,458 $75,148 $1,310
49BouwnijverheidNetherlands$76,091 $76,091
50Ontario Municipal EmployeesCanada$75,730 $75,730
51Michigan RetirementU.S.$75,550 $67,496 $8,054
52Georgia TeachersU.S.$73,089 $73,089
53Minnesota State BoardU.S.$72,672 $64,116 $8,556
54National Public ServiceJapan$71,662 $71,662
55Lockheed MartinU.S.$71,001 $32,544 $38,457
56Public Inst. for Social SecurityKuwait$70,710
57Massachusetts PRIMU.S.$69,496 $69,496
58BT Group 1U.K.$68,857 $68,857
59First State SuperAustralia$67,610 $67,610
60Royal Bank of Scotland Group 5U.K.$67,222 $67,222
61National Wealth Fund 6Russia$65,076
62Healthcare of OntarioCanada$61,854 $61,854
63United Nations Joint StaffU.S.$61,457 $61,457
64Lloyds Banking Group 5U.K.$60,664 $60,664
65QSuperAustralia$60,629
66Ford MotorU.S.$59,813 $43,561 $16,252
67United Parcel ServiceU.S.$59,560 $36,929 $22,631
68AMF PensionSweden$57,665 $57,665
69AFP HabitatChile$57,513 $57,513
70KevaFinland$57,048 $57,048
71PMENetherlands$56,378 $56,378
72Bank of AmericaU.S.$55,875 $19,375 $36,500
73Quebec PensionCanada$55,205 $55,205
74Tennessee ConsolidatedU.S.$55,112 $48,330 $6,782
75Quebec Government & PublicCanada$54,698 $54,698
76VarmaFinland$54,514 $54,514
77PreviBrazil$54,465 $54,465
78Los Angeles County EmployeesU.S.$53,832 $53,832
79AFP ProvidaChile$52,940 $52,940
80Pennsylvania School EmployeesU.S.$52,891 $52,891
81Organization for Workers 1Japan$52,129 $52,129
82Colorado EmployeesU.S.$51,476 $47,300 $4,176
83UniSuperAustralia$51,227
84Wells FargoU.S.$51,062 $10,621 $40,441
85Northrop GrummanU.S.$50,541 $26,975 $23,566
86Maryland State RetirementU.S.$50,297 $50,297
87KaiserU.S.$50,058 $29,697 $20,361
88Illinois TeachersU.S.$49,863 $49,863
89Electricity Supply PensionU.K.$49,847
90VerizonU.S.$49,780 $18,718 $31,062
91United TechnologiesU.S.$49,030 $26,644 $22,386
92IlmarinenFinland$47,246 $47,246
93AP Fonden 7Sweden$46,966
94Public School EmployeesJapan$46,081 $46,081
95FRR7France$43,698
96SampensionDenmark$43,280
97AP Fonden 3Sweden$43,083
98DowDuPontU.S.$43,028 $19,283 $23,745
99AP Fonden 4Sweden$43,001
100Missouri Schools & EducationU.S.$42,307 $42,307
101FedExU.S.$42,033 $25,729 $16,304
102AP Fonden 2Sweden$41,826
103AFP CuprumChile$41,105 $41,105
104B.C. MunicipalCanada$40,968 $40,968
105J.P. Morgan ChaseU.S.$40,841 $15,304 $25,537
106Bundes PensionskasseSwitzerland$40,815
107Barclays Bank U.K.U.K.$40,690 $40,690
108AFP CapitalChile$40,559 $40,559
109Private Schools EmployeesJapan$40,377 $40,377
110AP Fonden 1Sweden$39,874
111Illinois MunicipalU.S.$39,811 $39,811
112Teamsters, Western ConferenceU.S.$39,773 $39,773
113Nevada Public EmployeesU.S.$39,721 $39,721
114RESTAustralia$39,178 $39,178
115Alabama RetirementU.S.$38,800 $36,686 $2,114
116SunsuperAustralia$38,576
117HSBC BankU.K.$38,265 $38,265
118Afore XXI Banorte8Mexico$37,883 $37,883
119Arizona State RetirementU.S.$37,753 $37,753
120Exxon MobilU.S.$37,665 $13,933 $23,732
121South Carolina Public EmployeesU.S.$37,263 $31,057 $6,206
122Railways PensionsU.K.$37,165
123Utah State RetirementU.S.$37,100 $31,699 $5,401
124State FarmU.S.$36,631 $24,288 $12,343
125National Pension Association9Japan$36,368 $36,368
126PensionDanmarkDenmark$36,334 $36,334
127RaytheonU.S.$36,200 $18,700 $17,500
128BPU.K.$35,091 $35,091
129British AirwaysU.K.$34,841 $34,333 $508
130 Johnson & JohnsonU.S.$34,792 $18,053 $16,739
131ERAFP10France$34,694
132Retirement Fund-KWAPMalaysia$34,665 $34,665
133HoneywellU.S.$34,552 $19,619 $14,933
134Delta Air LinesU.S.$34,363 $14,299 $20,064
135Alberta Local AuthoritiesCanada$33,991 $33,991
136CbusAustralia$33,985 $33,985
137CSCAustralia$33,969 $33,969
138HESTAAustralia$33,938 $33,938
139BVK des Kantons ZurichSwitzerland$33,913 $33,913
140BVVGermany$33,728 $33,728
141Nokia USAU.S.$33,692 $25,778 $7,914
142State SuperAustralia$33,688
143Connecticut RetirementU.S.$33,461 $33,461
144RabobankNetherlands$32,859 $715 $32,144
145 ING PensioenfondsNetherlands$32,782 $32,782
146Indiana Public RetirementU.S.$32,743 $27,386 $5,357
147PorvenirColombia$32,579 $32,579
148VervoerNetherlands$32,566 $32,566
149ABN AMRO PensioenfondsNetherlands$32,092 $32,092
150ChevronU.S.$31,878 $10,409 $21,469
151Alaska RetirementU.S.$31,828 $25,827 $6,001
152Iowa Public EmployeesU.S.$31,524 $31,524
153Greater ManchesterU.K.$31,087 $31,087
154Pennsylvania EmployeesU.S.$30,964 $27,649 $3,315
155Grafische BedrijvenNetherlands$30,933 $30,933
156Texas EmployeesU.S.$30,539 $27,532 $3,007
157Afore Citibanamex8Mexico$30,409 $30,409
158BAE SystemsU.K.$30,323 $30,323
159Mississippi EmployeesU.S.$29,446 $27,675 $1,771
160British Coal Pension Schemes11U.K.$29,184 $29,184
161DaimlerGermany$29,048 $29,048
162Texas County & DistrictU.S.$28,643 $28,643
163Strathclyde Pension FundU.K.$28,610 $28,610
164Mitsubishi UFJ Financial1Japan$28,386
165PfizerU.S.$27,992 $13,569 $14,423
166Japan Police Personnel Mutual AidJapan$27,724 $27,724
167Elo Mutual Pension InsuranceFinland$27,675 $27,675
168American AirlinesU.S.$27,614 $11,126 $16,488
169Texas Municipal RetirementU.S.$27,570 $27,570
170ProteccionColombia$27,472 $27,472
171FCA U.S.U.S.$27,388 $20,891 $6,497
172VBLGermany$27,066 $27,066
173WalmartU.S.$26,964 $26,964
174Social Insurance FundsVietnam$26,820
175San Francisco City & CountyU.S.$26,666 $23,428 $3,238
176UBSSwitzerland$26,662 $26,662
177Industriens PensionDenmark$26,608 $26,608
178Shell OilU.S.$26,501 $15,138 $11,363
179National RailroadU.S.$26,494 $26,488 $6
180Ireland Strategic InvestmentIreland$26,469
181ExelonU.S.$26,076 $18,320 $7,756
182 CitigroupU.S.$26,012 $12,701 $13,311
183Nestle5Switzerland$25,300 $25,300
184Government Pension11Thailand$25,242 $25,242
1853MU.S.$25,226 $15,348 $9,878
186Afore Sura8Mexico$24,853 $24,853
187General DynamicsU.S.$24,736 $9,788 $14,948
188Federal Reserve EmployeesU.S.$24,681 $15,912 $8,769
189New Zealand Superannuation12New Zealand$24,420
190Migros-Genossenschafts-BundSwitzerland$24,417
191Labor Insurance FundTaiwan$24,374 $24,374
192AvivaU.K.$23,977 $23,977
193Afore Profuturo GNP8Mexico$23,826 $23,826
194ENPAMItaly$23,697
195HOSTPLUSAustralia$23,693 $23,693
196State PensionFinland$23,513 $23,513
197B.C. Public Service2Canada$23,233 $23,233
198CaterpillarU.S.$23,050 $12,182 $10,868
199PG&EU.S.$22,812 $16,117 $6,695
200PepsiCoU.S.$22,638 $13,194 $9,444
201BBCU.K.$22,598 $22,598
202B.C. TeachersCanada$22,384 $22,384
203New York State Deferred Comp.U.S.$22,205 $22,205
204ESSSuperAustralia$22,021
205United Continental HoldingsU.S.$21,900 $3,700 $18,200
206Government Service InsurancePhilippines$21,810
207Los Angeles Fire & PoliceU.S.$21,742 $21,742
208Procter & GambleU.S.$21,678 $1,970 $19,708
209Illinois State BoardU.S.$21,651 $17,318 $4,333
210PetrosBrazil$21,651 $21,651
211MerckU.S.$21,580 $11,851 $9,729
212Public Service Pension FundTaiwan$21,420 $21,420
213 Prudential FinancialU.S.$21,300 $12,826 $8,474
214Louisiana TeachersU.S.$21,250 $19,129 $2,121
215National ElectricU.S.$21,181 $13,876 $7,305
216Mizuho Financial Group1Japan$21,108
217Ontario Pension BoardCanada$21,066 $21,066
218Laegernes PensionskasseDenmark$20,892
219PKADenmark$20,806
220Illinois State UniversitiesU.S.$20,724 $18,572 $2,152
221National Grid1U.K.$20,715 $20,715
222GESBAustralia$20,686 $20,686
223Super SAAustralia$20,553 $20,553
224British Steel Pension Scheme2U.K.$20,353 $20,353
225World BankU.S.$20,222 $20,222
226HPU.S.$19,933 $10,838 $9,095
227Canada PostCanada$19,910 $19,910
228Kansas Public EmployeesU.S.$19,898 $18,838 $1,060
229Magistrenes PensionskasseDenmark$19,873 $19,873
230Fonds de Comp./Securite SocialeLuxembourg$19,655
231Hydro-QuebecCanada$19,654 $19,654
232SpoorwegpensioenfondsNetherlands$19,610 $19,610
233Fujitsu1, 5Japan$19,509
234Wespath (UMC)U.S.$19,475 $8,549 $10,926
235Walt DisneyU.S.$19,338 $12,082 $7,256
236West Midlands Metropolitan2U.K.$19,316 $19,316
237Kentucky TeachersU.S.$19,268 $19,268
238New York City Deferred Comp.U.S.$19,231 $19,231
239Bell CanadaCanada$19,048 $19,048
240Integra13Peru$18,961 $18,961
241FEFSSPortugal$18,930
242MicrosoftU.S.$18,849 $18,849
243FUNCEFBrazil$18,617 $18,617
244National Rural ElectricU.S.$18,522 $8,592 $9,930
245Nippon Telegraph & Telephone1Japan$18,500
246West Yorkshire2U.K.$18,421 $18,421
247Rolls-RoyceU.K.$18,387 $18,387
248IntelU.S.$18,332 $1,132 $17,200
249SBB PensionskasseSwitzerland$18,256 $18,256
250Consolidated EdisonU.S.$18,101 $14,238 $3,863
251Teachers’ PensionSouth Korea$17,994 $17,994
252AkzoNobel5U.K.$17,913 $17,913
253Tesco5, 14U.K.$17,884 $17,884
254Quebec Construction IndustryCanada$17,810
255International PaperU.S.$17,809 $12,156 $5,653
256 GlaxoSmithKlineU.K.$17,775 $17,775
257City of ZurichSwitzerland$17,763
258Duke EnergyU.S.$17,580 $9,298 $8,282
259 Southern Co.U.S.$17,572 $11,772 $5,800
260SiemensGermany$17,554 $17,554
261Credit SuisseSwitzerland$17,492
262Panasonic 1Japan$17,389
263DeereU.S.$17,300 $10,700 $6,600
264PK PostSwitzerland$17,298
265Georgia EmployeesU.S.$17,147 $15,583 $1,564
266 MetLifeU.S.$17,100 $9,675 $7,425
267Idaho Public EmployeesU.S.$17,039 $16,180 $859
268 Operating Engineers Int’lU.S.$16,942 $16,942
269 Ernst & YoungU.S.$16,920 $7,544 $9,376
270Air CanadaCanada$16,857 $16,857
271BWVAGermany$16,766 $16,766
272Los Angeles City EmployeesU.S.$16,708 $16,708
273Government Employees PensionSouth Korea$16,640 $16,640
274CenturyLinkU.S.$16,584 $11,005 $5,579
275DeloitteU.S.$16,464 $4,956 $11,508
276Hawaii EmployeesU.S.$16,321 $16,321
277 FMRU.S.$16,317 $16,317
278BASFGermany$16,298 $16,298
279 Nebraska Investment CouncilU.S.$16,197 $15,089 $1,108
280HCA HoldingsU.S.$16,188 $576 $15,612
281OPSEUCanada$16,141 $16,141
282RWEGermany$16,122 $16,122
283Arkansas TeachersU.S.$16,120 $16,120
284 National Grid USAU.S.$16,109 $11,730 $4,379
285Oklahoma TeachersU.S.$15,980 $15,803 $177
286New York City TeachersU.S.$15,924 $15,924
287Banco Santander (U.K.)U.K.$15,893 $15,893
288Telstra SuperAustralia$15,860
289VicSuperAustralia$15,860 $15,860
290New Mexico Public EmployeesU.S.$15,847 $15,264 $583
291Ohio Police & FireU.S.$15,390 $15,390
292West Virginia InvestmentU.S.$15,228 $15,228
293 Abbott LaboratoriesU.S.$15,215 $8,277 $6,938
294Liberty MutualU.S.$15,209 $7,700 $7,509
295Hitachi1Japan$15,184
296Prima13Peru$15,150 $15,150
297BP AmericaU.S.$15,113 $7,455 $7,658
298Nordrheinische ArzteversorgungGermany$15,075 $15,075
299Eli LillyU.S.$15,007 $8,060 $6,947
300Zenkoku Shinyo Kinko1Japan$14,955 $14,955
Total$18,109,120 $11,152,257 $3,906,108
Defined benefit and defined contribution breakouts were not available for or applicable to all non-U.S. funds.
Notes: 1 As of March 31, 2018; 2 As of March 31, 2017; 3 As of Jan. 31, 2018; 4 Global figure (ex-U.S.); 5 Global figure; 6 As of Jan. 1, 2018; 7 As of Dec. 29, 2017; 8 As of May 31, 2018; 9 Estimate; 10 As of Feb. 28, 2018; 11 As of Sept. 30, 2017; 12 As of June 30, 2017; 13 As of April 30, 2018; 14 As of Feb. 24, 2018