J.P. Morgan Asset Management says the firm’s institutional assets under management grew at twice the rate of the overall industry between 2009 and 2013. Its institutional AUM grew 14% annually vs. 7% for the industry over that period, according to a presentation at the company’s investor day Tuesday.
Mary Erodes, head of J.P. Morgan’s asset management business, said the firm has seen “outstanding growth” with business from insurance companies and endowments and foundations. Growth rates were highest among insurance clients (26%), defined contribution plans (24%) and endowments and foundations (20%).
She also noted the company has “only 2% market share out of this $28 trillion market,” and that “each 10 basis points worth of additional market share is the potential for an extra $100 million in revenues.”