In Pensions & Investments latest money manager survey, there were 343 managers that had subadvisory AUM with $4.489 trillion in combined assets. Wellington Management Group ranked first and was just shy of $500 billion in subadvisory AUM, representing 53.8% of Wellington's total AUM. Vanguard Group passed more than $500 billion to subadvisers, including Wellington. Subadvisory AUM represented around 11% of the 343 managers' total AUM.