Largest Asset Managers by AUM

The largest asset managers by AUM are firms that oversee the biggest pools of capital across ETFs, mutual funds, fixed income, retirement portfolios, institutional mandates, alternatives, and wealth management strategies. Their scale reflects global distribution, deep client relationships, broad product coverage, and the ability to serve both individual investors and large institutions.

The rankings below are based on the latest publicly available AUM figures for major global asset managers. Since AUM changes with market movement, client flows, currency shifts, and reporting updates, this list should be read as a current snapshot rather than a permanent ranking.

1. BlackRock

BlackRock ranks as the largest asset manager by AUM, with $11.55 trillion in assets under management in the 2025 ranking. It has remained the world’s largest asset manager for many years, making it the clearest benchmark in the global asset management industry.

Its scale comes from a broad investment platform covering index funds, ETFs, active strategies, fixed income, institutional portfolios, retirement solutions, and private market strategies. For anyone comparing the largest asset managers by AUM, BlackRock usually sits at the top because of its reach across both retail and institutional investing.

2. Vanguard Group

Vanguard Group ranks second, with $10.10 trillion in AUM in the 2025 ranking. Its position reflects the long-term growth of low-cost index funds, ETFs, mutual funds, and retirement-focused investing.

Vanguard is especially known for passive investing and cost-efficient portfolio products. Its size shows how strongly investors have moved toward simple, diversified, lower-fee investment options across global equity and fixed income markets.

3. Fidelity Investments

Fidelity Investments ranks third, with $5.52 trillion in AUM. It remains one of the most important names in global asset management because it combines investment management, retirement services, brokerage, and institutional solutions.

Fidelity’s platform covers active funds, index funds, retirement products, fixed income, equity strategies, and wealth-linked investment services. Its position near the top of the ranking shows the strength of firms that serve both individual investors and large institutional clients.

4. State Street Investment Management

State Street Investment Management ranks fourth, with $4.72 trillion in AUM. It is one of the largest institutional asset managers in the world and has a major presence in ETFs, index strategies, and large-scale portfolio management.

Its strength comes from serving institutions that need efficient exposure across global markets. State Street’s position in the ranking shows the importance of scale, passive investing, and institutional distribution in the modern asset management industry.

5. J.P. Morgan Asset Management

J.P. Morgan Asset Management ranks fifth, with $4.05 trillion in AUM. Its position reflects the strength of a large global investment platform connected to institutional clients, wealth management, retirement solutions, and advisory relationships.

The firm is relevant across active management, fixed income, multi-asset strategies, alternatives, liquidity solutions, and global investment portfolios. Its size shows how bank-affiliated asset managers can compete strongly with standalone investment firms.

6. Goldman Sachs Asset Management

Goldman Sachs Asset Management ranks sixth, with $3.14 trillion in AUM. Its ranking reflects its global reach across public markets, private markets, institutional mandates, wealth-linked portfolios, and alternative investment strategies.

The firm is especially relevant for clients looking for investment management connected to broader institutional and advisory capabilities. Its place among the largest asset managers by AUM shows the importance of diversified investment platforms that serve sophisticated global clients.

7. UBS Asset Management

UBS Asset Management ranks seventh, with $2.86 trillion in AUM. Its scale is closely tied to the firm’s global wealth management and institutional investment presence.

UBS is especially important in cross-border wealth, institutional investing, fund solutions, and global portfolio management. Its ranking shows how wealth-led investment platforms can hold a major position in the global asset management market.

8. Capital Group

Capital Group ranks eighth, with $2.84 trillion in AUM. It is one of the largest independent asset managers and is widely associated with long-term active investment management.

Its position in the ranking shows that active managers still hold major global market share despite the growth of passive investing. Capital Group remains relevant for investors looking for long-term equity, fixed income, and multi-asset strategies managed through a research-driven approach.

9. Allianz Group

Allianz Group ranks ninth, with $2.55 trillion in AUM. Its position reflects the strength of large insurance-linked investment platforms and their role in managing institutional, fixed income, and global investment assets.

Allianz’s asset management scale is supported by broad investment capabilities across public markets, fixed income, institutional mandates, and global fund strategies. Its place in the top 10 shows how insurer-backed asset managers can compete at the highest level of the industry.

10. Amundi

Amundi ranks tenth, with $2.32 trillion in AUM. It is one of the largest European asset managers and holds a major position across institutional investing, retail funds, ETFs, fixed income, and multi-asset strategies.

Amundi’s ranking shows the strength of large European asset managers in a market heavily led by U.S.-based firms. Its platform is especially relevant for clients looking for scale, diversified investment products, and global portfolio access.

Let’s Recap: Largest Asset Managers by AUM

The largest asset managers by AUM stand out because they manage capital at global scale across ETFs, mutual funds, retirement assets, fixed income strategies, institutional mandates, and wealth management portfolios. Their size reflects broad distribution, long-standing client relationships, and the ability to serve both individual investors and large institutions.

Still, AUM is only one way to compare asset managers. Some firms lead through passive investing, some through active management, some through institutional portfolios, and others through wealth-linked or multi-asset strategies. The right fit depends on the investor’s goals, risk profile, fee expectations, and preferred investment approach.

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Explore the largest asset managers by AUM with AI Search at Private Equity List, and identify firms by assets under management, location, strategy focus, and market presence.

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Frequently Asked Questions

AUM means assets under management. It refers to the total value of money an asset manager oversees for clients across funds, portfolios, institutional mandates, ETFs, retirement products, and other investment strategies.
BlackRock is generally ranked as the largest asset manager by AUM. Its scale comes from a wide investment platform across ETFs, index funds, fixed income, institutional portfolios, retirement solutions, and other investment products.
AUM rankings change because financial markets move and client assets rise or fall in value. They also change when investors add money, withdraw money, shift strategies, or when asset managers update their reporting.
No. The biggest asset manager is not always the best fit for every investor. AUM shows scale, but investors should also compare fees, investment strategy, risk approach, performance history, product range, and client needs.
The ranking usually includes firms that manage large pools of money across ETFs, mutual funds, pension mandates, fixed income, active strategies, passive strategies, retirement assets, institutional portfolios, and wealth management solutions.
Passive asset managers often rank high because index funds and ETFs attract large amounts of capital due to low fees, broad diversification, and simple market exposure. This allows some firms to manage trillions of dollars across many investors.
No. AUM can include money from retail investors, institutions, pension funds, sovereign wealth funds, insurance companies, endowments, foundations, financial advisors, and corporate clients. That is why large asset managers often serve many client types at once.