INTERACTIVE

The P&I/Thinking Ahead Institute World 500: World’s largest money managers

Ranked by total assets under management, in millions, as of Dec. 31, 2017.
RankManagerCountryAssets
1 BlackRock (BLK)U.S.$6,288,195
2 Vanguard GroupU.S.$4,940,350
3State Street GlobalU.S.$2,781,693
4 Fidelity InvestmentsU.S.$2,448,807
5Allianz GroupGermany$2,358,037
6J.P. Morgan ChaseU.S.$2,034,000
7BNY MellonU.S.$1,892,941
8Capital GroupU.S.$1,778,134
9AXA GroupFrance$1,731,232
10 AmundiFrance$1,709,475
11 Goldman Sachs Group (GS)U.S.$1,494,000
12Deutsche BankGermany$1,453,321
13BNP ParibasFrance$1,432,968
14 Prudential FinancialU.S.$1,393,628
15Legal & General GroupU.K.$1,333,162
16UBSSwitzerland$1,254,401
17Northern TrustU.S.$1,161,000
18Wellington Mgmt.U.S.$1,080,307
19Wells FargoU.S.$1,040,900
20Natixis Investment Mgrs.France$997,849
21T. Rowe PriceU.S.$991,100
22Aegon GroupNetherlands$982,916
23 NuveenU.S.$970,459
24HSBC HoldingsU.K.$943,000
25 Invesco (IVZ)U.S.$937,598
26 Morgan Stanley (MS)U.S.$935,501
27M&G PrudentialU.K.$907,457
28Affiliated Managers GroupU.S.$836,300
29Sumitomo Mitsui Trust HoldingsJapan$791,467
30Standard Life AberdeenU.K.$780,551
31Sun Life FinancialCanada$778,161
32MassMutualU.S.$771,000
33 Legg Mason (LM)U.S.$767,241
34Manulife/John HancockCanada$756,477
35 Franklin Templeton (BEN)U.S.$753,766
36Ameriprise FinancialU.S.$714,300
37Nippon Life InsuranceJapan$701,396
38Principal FinancialU.S.$668,600
39Mitsubishi UFJ Financial GroupJapan$663,782
40 MetLifeU.S.$663,451
41Schroder Invesment Mgmt.U.K.$589,470
42 Dimensional Fund AdvisorsU.S.$577,096
43Great-West LifecoCanada$557,839
44Generali GroupItaly$555,823
45 New York Life InvestmentsU.S.$542,890
46Asset Management OneJapan$520,400
47Royal Bank of CanadaCanada$515,871
48Credit SuisseSwitzerland$464,156
49Blackstone GroupU.S.$434,100
50 Eaton Vance (EV)U.S.$432,200
51AvivaU.K.$426,634
52 Federated Investors (FII)U.S.$397,570
53NordeaDenmark$397,498
54Union InvestmentGermany$392,685
55LBBWGermany$387,445
56Eurizon Capital SGRItaly$384,909
57Nomura Asset Mgmt.Japan$371,212
58Macquarie GroupAustralia$368,912
59Charles Schwab InvestmentU.S.$360,662
60Geode Capital Mgmt.U.S.$359,367
61Janus Henderson GroupU.K.$356,953
62Meiji Yasuda Life Insurance1Japan$327,188
63Shinkin Central Bank1Japan$326,060
64 Dodge & CoxU.S.$315,953
65Voya FinancialU.S.$307,980
66MEAGGermany$303,753
67 Russell InvestmentsU.S.$296,589
68Zurcher KantonalbankSwitzerland$296,242
69NN Investment PartnersNetherlands$295,958
70 Neuberger BermanU.S.$295,170
71Brookfield Asset Mgmt.Canada$283,141
72Zurich Financial ServicesSwitzerland$282,341
73Societe GeneraleFrance$276,708
74Banco do Brasil2Brazil$274,366
75Stifel FinancialU.S.$272,600
76BMO Global Asset Mgmt.Canada$260,000
77La PosteFrance$259,865
78Sumitomo Life Insurance1Japan$256,320
79Dekabank GroupGermany$253,356
80Guggenheim InvestmentsU.S.$250,831
81LazardU.S.$249,459
82TD Asset Mgmt.Canada$244,175
83Baillie GiffordU.K.$235,336
84 SEI Investments (SEIC)U.S.$232,037
85Swiss Life Asset ManagersSwitzerland$229,410
86 MercerU.S.$227,455
87AQR Capital Mgmt.U.S.$224,043
88SEBSweden$223,827
89Banco Santander CentralSpain$218,961
90Samsung GroupSouth Korea$205,272
91 TCW GroupU.S.$204,592
92Pictet Asset Mgmt.Switzerland$197,530
93 Robeco GroupNetherlands$193,401
94Itau UnibancoBrazil$190,318
95Banco Bradesco2Brazil$178,201
96American CenturyU.S.$173,312
97Colonial First StateAustralia$170,829
98Resona HoldingsJapan$170,813
99 Kohlberg Kravis RobertsU.S.$168,471
100Scotiabank3Canada$164,987
101NISA InvestmentU.S.$162,809
102GAM HoldingSwitzerland$162,807
103 Bridgewater AssociatesU.S.$161,131
104Lord, AbbettU.S.$157,708
105Landesbank Hessen-Thuringen4Germany$156,400
106Mn ServicesNetherlands$155,197
107Royal London GroupU.K.$153,987
108SwedbankSweden$153,132
109China Asset Mgmt.China$153,023
110NAB Asset Mgmt.5Australia$152,900
111Harvest Fund Mgmt.China$151,807
112PNC FinancialU.S.$151,053
113Danske BankDenmark$147,218
114EFG InternationalSwitzerland$145,687
115Edmond de Rothschild GroupFrance$140,939
116Investec Asset Mgmt.South Africa$140,500
117NationwideU.S.$140,480
118BBVASpain$137,815
119PRIMECAPU.S.$135,333
120CIBC Asset Mgmt.Canada$133,034
121Raymond JamesU.S.$130,310
122Talanx GroupGermany$129,789
123Union Bancaire PriveeSwitzerland$128,528
124Vontobel Asset Mgmt.Switzerland$127,282
125IGM Financial GroupCanada$124,943
126Groupama Asset Mgmt.France$120,113
127LSV Asset Mgmt.U.S.$118,358
128Covea GroupFrance$117,782
129 Payden & RygelU.S.$117,100
130CaixabankSpain$116,160
131Willis Towers WatsonIreland$115,700
132 Artisan Partners (APAM)U.S.$115,494
133First Eagle InvestmentU.S.$114,493
134CI FinancialCanada$114,178
135 Mesirow FinancialU.S.$114,084
136Man GroupU.K.$109,100
137Fidelity WorldWide Invest.U.K.$108,276
138Caixa Economica Federal2Brazil$107,386
139Ares Mgmt.U.S.$106,491
140 CBRE Global InvestorsU.S.$103,200
141Pearl GroupU.K.$100,331
142 Fiera CapitalCanada$100,260
143Oaktree CapitalU.S.$100,228
144Anima HoldingItaly$99,863
145 Arrowstreet CapitalU.S.$97,465
146Mirae Asset Financial GroupSouth Korea$97,013
147Bayerischen LandesbankGermany$96,246
148Robert W. BairdU.S.$96,006
149 Fisher InvestmentsU.S.$95,713
150OP Financial GroupFinland$93,840
151Metzler Asset Mgmt.6Germany$91,434
152Virtus InvestmentU.S.$90,963
153Baloise Asset Mgmt.Switzerland$90,949
154Pacific LifeU.S.$90,000
155 Wilmington TrustU.S.$89,230
156Storebrand GroupNorway$88,826
157BCVSwitzerland$88,718
158Hanwha GroupSouth Korea$86,769
159Pacific Century GroupHong Kong$85,300
160China Universal Asset Mgmt.China$84,261
161OFI AMFrance$84,216
162New England Asset Mgmt.U.S.$83,784
163Waddell & ReedU.S.$81,082
164RothschildFrance$80,967
165PFM Asset Mgmt.U.S.$80,608
166IFM InvestorsAustralia$78,781
167Securian Financial GroupU.S.$78,600
168Erste-Sparinvest KapitalanlageAustria$76,179
169Credit MutuelFrance$75,794
170Sumitomo Mitsui Asset Mgmt.Japan$75,781
171Bank of China InvestmentChina$75,708
172Banco BPM5Italy$75,072
173BT Investment Mgmt.5Australia$75,002
174Svenska HandelsbankenSweden$74,854
175 Partners GroupSwitzerland$74,471
176E Fund Mgmt.China$73,976
177 William BlairU.S.$73,554
178SanlamSouth Africa$73,122
179OddoFrance$72,185
180Guardian LifeU.S.$71,500
181CCB Principal Asset Mgmt.China$71,169
182F Van LanschotNetherlands$70,861
183Industrial Alliance InsuranceCanada$70,850
184Monte dei Paschi di SienaItaly$70,500
185Grantham, Mayo v. OtterlooU.S.$70,353
186 Ashmore GroupU.K.$69,500
187Income Research & Mgmt.U.S.$69,256
188CarmignacFrance$68,039
189Jupiter Asset Mgmt.U.K.$67,982
190QICAustralia$66,493
191UBI BancaItaly$66,458
192ASRNetherlands$66,169
193ACTIAMNetherlands$65,087
194KBLLuxembourg$64,846
195 Brown Brothers HarrimanU.S.$64,407
196Record Currency Mgmt.U.K.$63,927
197 Marathon-LondonU.K.$63,012
198 Mondrian Investment PartnersU.K.$62,751
199Cohen & SteersU.S.$62,106
200LGT GroupLiechtenstein$62,098
201Victory CapitalU.S.$61,771
202Versicherungskammer BayernGermany$61,541
203Brown AdvisoryU.S.$60,893
204Reliance CapitalIndia$59,590
205Fukoku Mutual Life InsuranceJapan$59,502
206Connor, Clark & Lunn FinancialCanada$59,288
207Truvalue Asset Mgmt.China$59,127
208LaSalle InvestmentU.S.$59,026
209Causeway CapitalU.S.$58,964
210 HinesU.S.$58,878
211 American Beacon AdvisorsU.S.$57,813
212MediolanumItaly$57,247
213Tokio Marine Holdings5Japan$57,000
214AchmeaNetherlands$56,857
215Fort WashingtonU.S.$56,303
216 Starwood CapitalU.S.$55,939
217Sterling CapitalU.S.$55,908
218 Renaissance TechnologiesU.S.$55,305
219 Daiwa SB InvestmentsJapan$55,008
220Challenger7Australia$54,814
221Bosera Asset Mgmt.China$54,200
222 RhumbLine AdvisersU.S.$53,619
223Old Mutual Investment GroupSouth Africa$53,165
224Sompo Japan Nipponkoa1Japan$52,868
225National Bank of Canada3Canada$52,321
226China Southern Fund Mgmt.China$52,253
227KB Asset Mgmt.South Korea$51,096
228Northill CapitalU.K.$51,018
229 Hamilton LaneU.S.$50,295
230Berenberg Asset Mgmt.Germany$49,928
231Coronation Fund ManagersSouth Africa$49,677
232ICBC Credit Suisse Asset Mgmt.China$49,570
233 HarbourVest PartnersU.S.$49,565
234Thornburg InvestmentU.S.$49,441
235Asahi Mutual Life InsuranceJapan$49,231
236STANLIBSouth Africa$49,000
237Pathway CapitalU.S.$48,262
238FolksamSweden$48,205
239Warburg GruppeGermany$47,281
240Lombard Odier Investment7Switzerland$47,185
241J. Safra Sarasin Group2Switzerland$46,582
242Patrizia ImmobilienGermany$46,559
243Desjardins GroupCanada$46,476
244D.E. Shaw GroupU.S.$46,272
245PrologisU.S.$46,219
246HDFC Asset Mgmt.India$45,573
247Magellan Asset Mgmt.Australia$45,307
248 Van Eck AssociatesU.S.$44,534
249Hermes Investment Mgmt.U.K.$44,067
250River and MercantileU.K.$43,981
251Shinhan BNPParibasSouth Korea$43,842
252 GAMCO Investors (GBL)U.S.$43,063
253KBC GroupBelgium$42,666
254SECOR Asset Mgmt.U.S.$42,643
255Korea ITMCSouth Korea$42,340
256Gruppo AzimutItaly$42,318
257Westpac Banking5Australia$41,572
258Alan BillerU.S.$40,843
259Universal-InvestmentGermany$40,562
260 Colchester Global InvestorsU.K.$40,499
261Bank Degroof PetercamBelgium$40,490
262DNBNorway$40,400
263GF Fund Mgmt.China$40,202
264Raiffeisen ZentralbankAustria$39,581
265 HeitmanU.S.$38,874
266HUK CoburgGermany$38,548
267Pzena InvestmentU.S.$38,543
268Silchester International8U.K.$38,371
269 Strategic Investment GroupU.S.$38,194
270Arca SGRItaly$38,065
271Birla Sun Life Asset Mgmt.India$37,998
272Orbis InvestmentsBermuda$37,840
273CommerzbankGermany$37,295
274Bank SyzSwitzerland$37,235
275 Fifth Third BancorpU.S.$37,000
276Kiwoom AMCSouth Korea$36,782
277NurnbergerGermany$35,499
278Quoniam Asset Mgmt.Germany$35,488
279 StepStone GroupU.S.$35,105
280Fullgoal Fund Mgmt.China$34,958
281Royal Bank of ScotlandU.K.$34,709
282Mirabaud GroupSwitzerland$34,158
283COMGESTFrance$34,047
284Matthews InternationalU.S.$33,966
285Stone Harbor InvestmentU.S.$33,948
286Mawer Investment Mgmt.Canada$33,732
287Breckinridge CapitalU.S.$33,359
288Northern CrossU.S.$33,202
289Alexander Forbes1South Africa$32,635
290Caixa Geral de Depósitos7Portugal$32,628
291Banco SabadellSpain$32,576
292State Bank of IndiaIndia$32,351
293Allan Gray ProprietarySouth Africa$32,278
294Jarislowsky, FraserCanada$32,147
295 Hotchkis & WileyU.S.$32,037
296Tian Hong Asset Mgmt.China$31,887
297 Adams Street PartnersU.S.$31,848
298Uniqa Finanz GroupAustria$31,047
299 First Pacific AdvisorsU.S.$31,035
300Boston Private FinancialU.S.$30,485
301Penghua Fund Mgmt.China$30,454
302Ameritas Mutual HoldingU.S.$30,300
303IbercajaSpain$30,051
304 Commerce TrustU.S.$29,954
305Los Angeles CapitalU.S.$29,878
306Ruffer9U.K.$29,828
307AGF Mgmt.Canada$29,356
308Davis AdvisorsU.S.$29,196
309 DuPont CapitalU.S.$29,040
310Brandes InvestmentU.S.$28,935
311 Lexington PartnersU.S.$28,844
312Intermediate Capital Group1U.K.$28,633
313Lendlease Investment Mgmt.Australia$28,300
314NH-CASouth Korea$28,263
315Angelo, GordonU.S.$28,000
316 ICMA RetirementU.S.$27,919
317Eagle CapitalU.S.$27,912
318KutxabankSpain$27,595
319Burgundy Asset Mgmt.Canada$27,474
320ASB Capital Mgmt.U.S.$27,469
321BankiaSpain$27,097
322AJOU.S.$27,060
323Beutel, GoodmanCanada$27,048
324DexusAustralia$27,000
325Greystone ManagedCanada$26,918
326Shenkman CapitalU.S.$26,587
327Blue Sky GroupNetherlands$26,468
328UnigestionSwitzerland$26,443
329Gruppo Credito EmilianoItaly$26,329
330Fiduciary Mgmt./MilwaukeeU.S.$26,141
331Lombarda China Fund Mgmt.China$26,028
332Tactical Global Mgmt.Australia$25,925
333VinvaAustralia$25,917
334 CallanU.S.$25,795
335Kyobo Life InsuranceSouth Korea$25,795
336QBEAustralia$25,554
337Yinhua Fund Mgmt.China$25,534
338GoldenTree Asset Mgmt.U.S.$25,529
339Manning & NapierU.S.$25,113
340PerpetualAustralia$24,940
341BTG PactualBrazil$24,590
342 CommonfundU.S.$24,539
343Hungkuk ITMCSouth Korea$24,404
344Letko BrosseauCanada$24,240
345Westwood HoldingsU.S.$24,229
346UTI Asset Mgmt.India$24,170
347Woodford10U.K.$24,134
348 Highland AssociatesU.S.$23,576
349Knights of Columbus AssetU.S.$23,494
350Canyon PartnersU.S.$23,400
351Sarofim GroupU.S.$23,185
352AlgerU.S.$23,097
353SCORFrance$22,353
354Diamond Hill CapitalU.S.$22,317
355 EARNEST PartnersU.S.$22,138
356Jackson Square PartnersU.S.$21,779
357ABSA Asset Mgmt.South Africa$21,767
358 Guardian CapitalCanada$21,753
359Co-operators GroupCanada$21,706
360Lansdowne PartnersU.K.$21,305
361Portfolio AdvisorsU.S.$21,140
362Platinum Asset Mgmt.Australia$21,000
363 Calamos Advisors (CLMS)U.S.$20,788
364China Post FundChina$20,297
365Bank of Comm. SchrodersChina$20,267
366TortoiseU.S.$20,244
367King Street CapitalU.S.$20,200
368Tongyang Investment Mgmt.South Korea$20,093
369PAGHong Kong$20,000
370Majedie Asset Mgmt.U.K.$19,660
371China Fund Mgmt.China$19,494
372Rongtong Fund Mgmt.China$19,459
373 International Value AdvisersU.S.$19,094
374Kotak Mahindra Asset Mgmt.India$18,880
375Grupo Novo BancoPortugal$18,803
376Lindsell TrainU.K.$18,792
377Providence EquityU.S.$18,691
378Kepler Fonds2Austria$18,419
379Glenmede InvestmentU.S.$18,316
380BankinterSpain$18,222
381Independent Franchise11U.K.$18,187
382AristotleU.S.$18,012
383Canso Investment CounselCanada$17,968
384 Amalgamated BankU.S.$17,813
385Royal & SunAllianceU.K.$17,639
386HuntU.S.$17,496
387Polen CapitalU.S.$17,422
388GPT GroupAustralia$16,945
389PAAMCO Prisma HoldingsU.S.$16,633
390Value PartnersHong Kong$16,594
391 Wasatch AdvisorsU.S.$16,571
392T&D Asset Mgmt.Japan$16,485
393Sprucegrove InvestmentCanada$16,102
394Harrison StreetU.S.$16,061
395Wiener Städtische VersicherungAustria$16,045
396EdgePoint Investment GroupCanada$16,000
397Silvercrest Asset Mgmt.U.S.$16,000
398Shinyoung ITMCSouth Korea$15,516
399Charter Hall7Australia$15,501
400HexavestCanada$15,500
401Leith Wheeler InvestmentCanada$15,453
402Luther King CapitalU.S.$15,298
403Adrian Lee & PartnersU.K.$15,000
404RWC Asset Mgmt.9U.K.$15,000
405Gulf International Bank5U.K.$14,700
406CQSU.K.$14,584
407World Asset Mgmt.U.S.$14,474
408Iridian Asset Mgmt.U.S.$14,386
409Hana Financial GroupSouth Korea$14,140
410 Cambiar InvestorsU.S.$14,009
411Synovus FinancialU.S.$14,000
412 Cantillon Capital Mgmt.U.S.$13,975
413Sit InvestmentU.S.$13,952
414Westfield CapitalU.S.$13,927
415Highland Capital (Texas)U.S.$13,828
416Gruppo Banca CarigeItaly$13,712
417HayfinU.K.$13,700
418WEDGE CapitalU.S.$13,573
419DB Asset Mgmt.South Korea$13,557
420 Rockpoint GroupU.S.$13,513
421Perella WeinbergU.S.$13,463
422Carnegie InvestmentSweden$13,454
423IBK AMCSouth Korea$13,326
424BOCI-PrudentialHong Kong$13,139
425 Ariel InvestmentsU.S.$13,132
426CIM GroupU.S.$13,073
427Renta 4Spain$13,049
428Troy Asset Mgmt.12U.K.$13,016
429Lupus Alpha Asset Mgmt.Germany$13,000
430Votorantim Asset Mgmt.2Brazil$12,740
431 Sage Advisory ServicesU.S.$12,713
432Maple-Brown AbbottAustralia$12,588
433Polar Capital Holdings1U.K.$12,569
434 Segall Bryant & HamillU.S.$12,469
435Beach Point CapitalU.S.$12,417
436MapfreSpain$12,375
437Hyundai Investment AMCSouth Korea$12,335
438Banco BPIPortugal$12,179
439Axiom InvestorsU.S.$12,116
440Kairos PartnersItaly$12,080
441QV InvestorsCanada$12,068
442Close Brothers Group13U.K.$12,067
443SulAmerica InvestimentosBrazil$11,756
444Paradice InvestmentAustralia$11,744
445KGALGermany$11,718
446Polaris CapitalU.S.$11,718
447Tocqueville Asset Mgmt.U.S.$11,680
448Mitsui Fudosan Investment1Japan$11,677
449OpportunityBrazil$11,676
450H/2 CapitalU.S.$11,596
451Axis Mutual FundIndia$11,563
452KBSU.S.$11,541
453 Stockbridge Capital GroupU.S.$11,533
454Westwood GlobalU.S.$11,344
455IDFC Asset Mgmt.India$11,251
456UNICAJASpain$11,151
457Longfellow InvestmentU.S.$11,123
458Cowen InvestmentU.S.$11,005
459Aetos CapitalU.S.$10,979
460Fisch Asset Mgmt.Switzerland$10,926
461 Bahl & GaynorU.S.$10,903
462 CornerStone PartnersU.S.$10,870
463CCLA Investment Mgmt.U.K.$10,847
464SPARX GroupJapan$10,809
465 London Co.U.S.$10,683
466Impax Asset Mgmt.U.K.$10,649
467 Westbrook PartnersU.S.$10,637
468Millennium bcpPortugal$10,577
469Seamark Asset Mgmt.Canada$10,500
470Opus InvestmentU.S.$10,478
471Navigator Global Invest.Australia$10,460
472Alte Leipziger HoldingGermany$10,446
473Johnson Investment CounselU.S.$10,421
474 SkyBridge CapitalU.S.$10,300
475ReichmuthSwitzerland$10,258
476KTBSouth Korea$10,231
477Verde Asset Mgmt.14Brazil$10,143
478Garcia HamiltonU.S.$10,071
479 Edinburgh PartnersU.K.$10,062
480 C.S. McKeeU.S.$10,032
481 Sustainable Growth AdvisersU.S.$9,985
482 Rockwood CapitalU.S.$9,894
483Affin Hwang Asset Mgmt.12Malaysia$9,848
484Brown CapitalU.S.$9,702
485CaserSpain$9,700
486 DRA AdvisorsU.S.$9,592
487Champlain InvestmentU.S.$9,524
488Cooper InvestorsAustralia$9,395
489Bridgeway CapitalU.S.$9,388
490Quadrant Real EstateU.S.$9,381
491Advent CapitalU.S.$9,350
492Grupo MarchSpain$9,341
493HI Asset Mgmt.South Korea$9,260
494 Great Lakes AdvisorsU.S.$9,179
495Credito Valtellinese5Italy$9,141
496Gruppo Bancario IccreaItaly$9,135
497Midas Asset AMCSouth Korea$9,097
498 TOBAMFrance$9,012
499DGB AMCSouth Korea$8,929
500Yurie AMCSouth Korea$8,914
Total$93,827,543
Notes: 1 As of March 31, 2017; 2 As of Feb. 28, 2018; 3 As of Oct. 31, 2017; 4 As of Nov. 12, 2017; 5 As of Sept. 30, 2017; 6 As of May 31, 2018; 7 As of June 30, 2017; 8 As of May 30, 2017; 9 As of March 31, 2018; 10 As of May 31, 2017; 11 As of Feb. 1, 2018; 12 As of April 30, 2017; 13 As of July 31, 2017; 14 As of March 29, 2018.