Fundsters may not be surprised to hear that BlackRock
[see profiles here
] is still the largest asset manager in the world, with almost $3.35 trillion in assets under management. That's one of the findings included in a new report
from Pensions & Investments
and Towers Watson
, drawn from data for year-end 2009. And Investment Executive
's James Langton also reported
on the news.
According to the research, the top 20 assets manager now hold 40 percent of the assets, up from 38 percent.
"The larger firms were again the main beneficiaries of the rebound and increased their share of total assets to the highest levels since the research began," stated Carl Hess
, global head of investment at Towers Watson.
At least 17 of the top 20 asset managers (ranked by assets) have their own U.S.-based mutual fund arms. State Street Global Advisors
(see profiles here
] and Vanguard
] round out the top five.
Neil Anderson, Managing Editor
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