Investing The 10 Largest Investment Management Companies Worldwide What are these giants worth? By Tim Lemke Tim Lemke Twitter Tim Lemke has more than 20 years of experience as a writer. He specializes in writing about investing, cryptocurrency, stocks, banking, business, and more. He has also been published in The Washington Times, Washington Business Journal, Wise Bread, and Patch. In 2019, he joined investment management company T. Rowe Price as a senior writer. learn about our editorial policies Updated on March 17, 2022 Reviewed by Akhilesh Ganti Reviewed by Akhilesh Ganti Website Akhilesh Ganti is a forex trading expert and registered commodity trading advisor who has more than 20 years of experience. He is directly responsible for all trading, risk, and money management decisions made at ArctosFX LLC. He has Master of Business Administration in finance from Mississippi State University. learn about our financial review board Fact checked by David Rubin Fact checked by David Rubin Facebook Instagram Twitter David J. Rubin is a fact checker for The Balance with more than 30 years in editing and publishing. The majority of his experience lies within the legal and financial spaces. At legal publisher Matthew Bender & Co./LexisNexis, he was a manager of R&D, programmer analyst, and senior copy editor. learn about our editorial policies In This Article View All In This Article How Do Big Asset Management Firms Work? 10 Largest Investment Management Companies Frequently Asked Questions (FAQs) Photo: Jack Taylor/Getty Images Many investors or organizations invest with the help of an asset management company. These firms take control of investments and make investment decisions. An asset management company invests and manages portfolios of mutual funds and other securities. Some are geared toward very wealthy individuals, in that these investors usually hand over full control of their portfolios to managers, who handle their assets. In this article, learn about some of the largest investment management firms in the world, plus what you need to know about how they work. How Do Big Asset Management Firms Work? Many asset managers will only deal with large institutions. These might be other corporations, big nonprofit organizations, or associations. But many of the most recognizable firms will offer services for average investors. In many cases, asset management firms make money by charging fees based on the value of assets they manage. Others will charge flat fees. Note Asset management companies will often have other business lines other than asset management. Sometimes, this includes brokerage services. In some cases, asset management makes up only a fraction of the company’s revenue, and they often partner with each other in various ways, even though they are also competitors. For example, one asset management firm may use its online platform to allow investors to buy and sell the mutual funds of a competing company. 10 Largest Investment Management Companies Here’s a look at the top asset management companies. These rankings are based on the number of funds (assets under management or AUM) under their control, based on their most recently reported balance sheets as of February 2022. You may recognize some of these companies, as they are some of the largest financial institutions in the world. Note Some companies may have much higher reported assets under custody, which would include money still managed by clients themselves. 1. BlackRock AUM: $9.464 trillion BlackRock is not just the world’s largest asset manager, but one of the world’s largest financial institutions. The company was founded in 1988 and went public in 1999. The firm has been influential in advancing the growth of exchange-traded funds (ETFs) through its iShares products. iShares comprised more than a quarter of BlackRock’s assets under management in 2021. 2. The Vanguard Group AUM: $8.4 trillion Vanguard is known for its strategy of passive investing. This means that money is placed in mutual funds designed to mirror the activity of a specific index or the broader stock market. Vanguard boasts of low expense ratios for most of its funds. Along with asset management, Vanguard offers brokerage services, financial planning, annuities, and other services. 3. UBS Group AUM: $4.432 trillion UBS Group has four divisions that operate around the world. The Switzerland-based firm describes itself as the "only truly global wealth manager." UBS offers both wealth management and asset management services. 4. Fidelity AUM: $4.23 trillion Fidelity is an asset manager and a discount broker with more than 30 million customers as of 2021 third quarter. It offers an online platform for individual investors to buy and sell securities. Fidelity also manages entire portfolios on behalf of clients. In the summer of 2018, it made headlines when it began offering mutual funds with a zero expense ratio and minimum investment requirement. 5. State Street Global Advisors AUM: $3.86 trillion Boston-based State Street is a subsidiary of State Street Corporation. It manages investments for a wide range of institutional clients, including non-profits, local governments, associations, and even educational groups. 6. Morgan Stanley AUM: $3.274 trillion Partners and staffers from the J.P. Morgan and Drexel companies formed Morgan Stanley on Wall Street in 1935. When it acquired the investment platform E*TRADE in late 2020, Morgan Stanley had about 68,000 employees in 39 countries. 7. JPMorgan Chase AUM: $2.996 trillion Most people think of JPMorgan Chase as an investment bank, but it also has a robust asset management business. In 2017, it had $1.3 trillion in assets moved from BlackRock as part of a new custody arrangement. 8. Allianz AUM: $2.953 trillion This German firm is primarily an insurer. It also operates two asset management divisions: Allianz Global Investors and PIMCO. Together, Global Investors and PIMCO manage about $2.17 trillion of third-party assets as of October 2021. 9. Capital Group AUM: $2.6 trillion Capital Group was founded in 1931 in Los Angeles. It employed over 7,800 associates in 29 offices worldwide as of February 2022. 10. Goldman Sachs AUM: $2.372 trillion Asset management is just one of many services offered by Goldman Sachs. The types of clients it serves include: Hedge fundsBanks and brokeragesPensionsEndowments and foundationsCorporationsGovernments In December 2020, Goldman Sachs announced a 10-year $750 billion climate transition and inclusive growth initiative. Frequently Asked Questions (FAQs) What do real estate investment companies do? Real estate investment companies operate similarly to the other investment companies listed here, they just have a sole focus on real estate assets. In fact, the companies listed here offer some of the best real estate investment trusts (REITs) on the market today. These REITs essentially function as small real estate investment companies within the broader organization. How are "high-net-worth individuals" determined by investment companies? The definition is set by each investment company individually, but high-net-worth individuals are generally those with at least $1 million in liquid assets. High-net-worth individuals can significantly add to an investment company's total assets under management, so companies will seek out and fight to keep these clients. Was this page helpful? Thanks for your feedback! Tell us why! Other Submit Sources The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Read our editorial process to learn more about how we fact-check and keep our content accurate, reliable, and trustworthy. ADV Ratings. "World's Top Asset Management Firms." BlackRock. "History." BlackRock. "2020 Annual Report: Moving Forward Together," Pages 4-5. Vanguard. "Expense Ratios: What They Are & How They Work." UBS. "Our Firm." Fidelity. "Q3 2021 Business Update," Page 1. New York Times. "Fidelity Tries Luring Investors With 2 No-Fee Funds. So What’s the Catch?" State Street Global Advisors. "Who We Are." Morgan Stanley. "The Founding of Morgan Stanley." Morgan Stanley. "Annual Report on Form 10-K for the Year Ended December 31, 2020," Pages 1, 9. JPMorgan Chase & Co. "JPMorgan Chase & Co. 2017 Annual Report," Page 53. Allianz. "Allianz Brand Value Climbs 17 Percent to Over 15 Billion USD in One Year." Capital Group. "Capital Group History." Capital Group. "Who We Are." Goldman Sachs. "What We Do." Goldman Sachs. "The Future, Now: Goldman Sachs 2020 Sustainability Report," Pages 3, 9.