The 10 largest publicly traded asset managers' their assets under management grew an average of 3.7% during the fourth quarter to an estimated $21.9 billion.
T. Rowe Price Group and BlackRock had the largest quarter-over-quarter rise, increasing assets under management by 7.1% and 6.6%, respectively. T. Rowe Price ended the quarter with $1.2 trillion in AUM, while BlackRock continued to add to its $7.4 billion pool. Affiliated Managers Group was the only manager in the group to see its AUM decline during the quarter, dropping 3.8% to $723 billion.
During the quarter, U.S. equities rose 8.6% (Russell 3000 index) while global equities followed close behind at 8.5% (MSCI ACWI ex-U.S. index).