Asset Management Industry Profile

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Excerpt from Asset Management Industry Profile

Companies in this industry manage the financial assets of corporate, institutional, and individual clients. Major companies include BlackRock, Fidelity Investments, State Street Corporation, and Vanguard Group (all based in the US), as well as Allianz Group (Germany), Amundi (France), and UBS (Switzerland). In addition, most major banks have asset management divisions.

Worldwide, total assets under management (AuM) grew by 15%, to $89 trillion in 2019, according to Boston Consulting Group (BCG). The world's largest asset management regions with the strongest growth include North America and China.

The US asset management industry includes about 75,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $340 billion. The industry includes hedge funds, financial advisers, mutual funds, and venture capital firms, all of which are covered in separate industry profiles. Investment banks and securities brokerages, which are not included in the industry, also are covered in separate profiles.

COMPETITIVE LANDSCAPE

Demand is driven by demographic and market trends such as the growing population of retirees and the accumulation of wealth and investable assets, as well as returns on investments. The profitability of individual companies depends on the volume and performance of the assets they manage. Large companies have advantages in providing expertise in a wide range of investment options. Small companies can compete by focusing on a single product or type of client. The US industry is concentrated: the 50 largest ...

 
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