What is the size of asset management industry in China?
As at the end of 2022, the aggregate assets under management of China's asset management industry reached 131 trillion yuan, which was slightly lower than the 133.7 trillion yuan at the end of 2021.
Global Asset Management Market size was valued at USD 277.42 billion in 2021 and is poised to grow from USD 373.69 billion in 2022 to USD 5455.24 billion by 2030, growing at a CAGR of 34.7% in the forecast period (2023-2030).
China's first FMCs opened for business in 1998 and by the end of 2020, 134 FMCs were active in the market. These companies have a total AUM of EUR 3.9 trillion, accounting for about 25.39% of the industry total.
Total AuM in the asset management market in APAC reached $27.2 trillion in 2022, showing positive growth despite turbulent market conditions.
BlackRock remains the world's largest asset manager overall.
BlackRock, Inc. is an American multinational investment company. It is the world's largest asset manager, with $9.42 trillion in assets as of June 30, 2023. Headquartered in New York City, Blackrock has 70 offices in 30 countries, and clients in 100 countries.
The United States, along with the United Kingdom, is a key center in both the source of assets under management, and, even more importantly, as a dominant force in the asset management industry itself.
The level of assets under management (AUM) in Europe underwent steady growth from 2011 to 2022, despite a slight decrease from the previous peak experienced in 2021. The total amount of assets under management (AUM) in Europe amounted to 28.4 trillion euros by the third quarter of 2022.
India Asset Management Market Analysis
In 2022, the AUM of the Indian mutual fund industry stood at INR 37.22 trillion (USD 449 billion). Although individual investors hold 55% of industry assets, institutional investors account for 45%.
In China, the Wealth Management market is anticipated to witness a significant growth in the coming years. By 2024, the Assets under Management in this market are projected to reach a staggering US$6,011.00bn.
Is Vanguard leaving China?
However, Vanguard's exit from China follows a series of executive resignations in its Asia and China divisions in 2020 and the relocation of its Asian headquarters from Hong Kong and Japan to Shanghai.
Hong Kong is a major regional fund management centre with a large concentration of international fund managers, advisory businesses and private banks. Specifically, Hong Kong is the largest international asset management hub in Asia.
The largest asset owner in the world was Japan's massive Government Pension Investment Fund, holding over $1.4 trillion.
Market Overview
The APAC Wealth Management Market size in terms of assets under management value is expected to grow from USD 20.77 trillion in 2024 to USD 37.05 trillion by 2029, at a CAGR of 12.27% during the forecast period (2024-2029).
Top 10 Global Asset Managers
The ranking of the top 10 global managers was almost unchanged from last year. BlackRock retained the top spot with €7.1trn of AUM, with Vanguard, Fidelity, SSGA, Capital Group and JPMAM also keeping their positions.
BlackRock's competitors and similar companies include Charles Schwab, Northern Trust, Fidelity Investments, State Street, Vanguard, Berkshire Hathaway and Edward Jones. BlackRock is a company that provides investment advisory and risk management solutions.
BlackRock is not owned by a single individual or company. Instead, its shares are owned by a large number of individual and institutional investors. The biggest institutional shareholders such as The Vanguard Group and State Street are merely custodians of the stock for their clients.
BlackRock now reigns as the world's largest asset manager; as of the second quarter of 2023, BlackRock had total assets under management (AUM) of around 9.4 trillion U.S. dollars. To put this into perspective, if BlackRock were a country, it would have the third-highest GDP globally.
Within the world of corporate governance, there has hardly been a more important recent development than the rise of the 'Big Three' asset managers—Vanguard, State Street Global Advisors, and BlackRock.
As expected, BlackRock's top equity holdings include America's most established tech companies: Apple, Microsoft, Amazon, and Google. BlackRock also has large positions in Nvidia and Broadcom, which happen to be America's two largest semiconductor companies.
How big is the UK asset management industry?
UK asset management firms hold more assets under management (AUM) than those in any other European nation, with £6.6 trillion held. Globally, only the United States has a higher AUM than UK firms.
The digital asset management market size was valued at USD 3.45 billion in 2022 and market is projected to grow from USD 3.97 billion in 2023 to USD 12.29 billion by 2030, exhibiting a CAGR of 17.5% during the forecast period. North America dominated the global market with a share of 40.58% in 2022.
Top managers of sponsored funds include China Asset Management Co, E Fund Management Co, China Southern Asset Management Co and Fullgoal Fund Management, according to Z-Ben Advisors.
In 2023, the industrial sector generated around 31.7 percent of China's GDP. It was by far the largest contributor, followed by the wholesale and retail industry that was responsible for 9.8 percent and the financial sector that produced 8.0 percent of the country's economic output.
Manufacturing, services and agriculture are the largest sectors of the Chinese economy – employing the majority of the population and making the largest contributions to GDP. Since 1949, the Chinese Government has been responsible for planning and managing the national economy.
