Driven by explosive growth in passive strategies and ETFs that now command trillions, the global asset management industry is a colossal, $120-trillion ecosystem where capital, innovation, and ambition converge across every region and strategy imaginable.
Key Takeaways
- The global asset management industry managed $119.7 trillion in assets under management (AUM) at the end of 2023, up 12.5% from $106.2 trillion in 2022.
- U.S. asset managers controlled 55% of global AUM, amounting to approximately $65.8 trillion in 2023.
- Europe's asset management industry oversaw €25.8 trillion in AUM as of end-2023, representing 21% of global total.
- The asset management industry's global revenue reached $280 billion in 2023.
- Average revenue margin for asset managers was 20.5 basis points on AUM in 2023.
- U.S. asset managers generated $160 billion in fee revenue in 2023.
- The asset management industry employed 650,000 people globally in 2023.
- U.S. asset management sector jobs numbered 280,000 in 2023.
- Europe employed 170,000 in asset management in 2023.
- Global AUM expected to grow at 5.5% CAGR to $145 trillion by 2025.
- U.S. AUM projected to reach $75 trillion by 2028.
- Europe AUM growth forecast at 4% annually through 2027.
- U.S. dominates with 45% global revenue share in 2023.
- Europe holds 28% of global AUM, concentrated in Luxembourg and Ireland.
- Asia-Pacific accounts for 18% of world AUM, led by Japan and China.
The global asset management industry manages massive wealth, growing significantly with passive and active strategies competing.
Employment
1The asset management industry employed 650,000 people globally in 2023.
Verified2U.S. asset management sector jobs numbered 280,000 in 2023.
Verified3Europe employed 170,000 in asset management in 2023.
Verified4Asia-Pacific AM workforce reached 120,000 professionals in 2023.
Directional5Investment analysts comprised 25% of AM workforce, or 162,500 people in 2023.
Single source6Portfolio managers numbered 85,000 globally in 2023.
Verified7Compliance officers in AM industry totaled 65,000 in 2023.
Verified8Sales and client relations staff: 130,000 worldwide in 2023.
Verified9Technology roles in AM grew to 50,000 jobs in 2023.
Directional10U.S. financial advisors employed by AM firms: 120,000 in 2023.
Single source11UK fund management staff: 35,000 in 2023.
Verified12India's AM industry employed 25,000 people in 2023.
Verified13China AM sector workforce: 80,000 in 2023.
Verified14Women represented 42% of AM workforce globally in 2023.
Directional15Average salary for portfolio managers: $250,000 in U.S. 2023.
Single source16Employee turnover rate in AM: 12% in 2023.
Verified17Diversity index improved to 35% non-white employees in U.S. AM in 2023.
Verified18Remote work adoption: 40% of AM staff in 2023.
Verified19Training investment per employee: $5,000 annually in 2023.
Directional20Gen Z entry-level hires: 15% of new AM jobs in 2023.
Single source21ETF specialists jobs grew 20% to 20,000 in 2023.
Verified22ESG analysts: 15,000 globally in 2023.
Verified23C-suite executives in AM: 5,000 worldwide in 2023.
VerifiedEmployment Interpretation
In a global industry where 162,500 analysts scrutinize the markets and 85,000 portfolio managers try to steer the ship, it turns out the real growth areas are convincing clients (130,000 strong), appeasing regulators (65,000 compliance officers), and desperately hiring tech and ETF talent, all while hoping that a $5,000 training budget and 40% remote work policy will keep the 12% of people quitting each year from becoming 13%.
Growth
1Global AUM expected to grow at 5.5% CAGR to $145 trillion by 2025.
Verified2U.S. AUM projected to reach $75 trillion by 2028.
Verified3Europe AUM growth forecast at 4% annually through 2027.
Verified4Asia ex-Japan AUM to double to $20 trillion by 2030.
Directional5Passive AUM share to hit 50% by 2025.
Single source6Alternatives AUM projected to $23 trillion by 2026.
Verified7ETF AUM forecast to $15 trillion globally by 2025.
Verified8Sustainable AUM to reach $53 trillion by 2025.
Verified9Robo-advisors AUM growth at 25% CAGR to $4 trillion by 2027.
Directional10Private markets AUM to grow 12% annually to 2028.
Single source11U.S. retirement assets growth 6% CAGR to 2030.
Verified12China AM AUM to RMB 100 trillion by 2027.
Verified13Emerging markets AUM share to rise to 15% by 2030.
Verified14Digital assets AUM to $10 trillion by 2030.
Directional15Multi-asset strategies growth at 7% CAGR.
Single source16Thematic investing AUM to triple by 2028.
Verified17Outsourced CIO AUM growth 15% YoY.
Verified18Model portfolios AUM to $5 trillion by 2025.
Verified19Direct indexing AUM to $1 trillion by 2026.
Directional20Tokenized assets market to $16 trillion by 2030.
Single source21U.S. 529 plans AUM growth 8% annually.
Verified22Global wealth transfer to fuel 10% AUM growth.
Verified23Inflation to boost real assets AUM 9% CAGR.
VerifiedGrowth Interpretation
The future of asset management is a high-velocity race where relentless passive flows, a sustainable revolution, and digital innovations are all converging to create a staggering global wealth ecosystem that even your grandchildren's robo-advisor will find impressive.
Market Size
1The global asset management industry managed $119.7 trillion in assets under management (AUM) at the end of 2023, up 12.5% from $106.2 trillion in 2022.
Verified2U.S. asset managers controlled 55% of global AUM, amounting to approximately $65.8 trillion in 2023.
Verified3Europe's asset management industry oversaw €25.8 trillion in AUM as of end-2023, representing 21% of global total.
Verified4Asia-Pacific region's AUM grew to $24.5 trillion in 2023, driven by emerging markets.
Directional5Passive management strategies accounted for 48% of global AUM, reaching $57.3 trillion in 2023.
Single source6Active management AUM stood at $62.4 trillion globally in 2023, comprising 52% of total industry AUM.
Verified7ETFs captured $11.5 trillion in AUM worldwide by end-2023, with 10% annual growth.
Verified8Mutual funds managed $58.2 trillion globally in 2023.
Verified9Alternative assets under management hit $17.1 trillion in 2023, up 9% YoY.
Directional10Private equity AUM reached $7.8 trillion globally in 2023.
Single source11Hedge funds managed $4.3 trillion in AUM as of Q4 2023.
Verified12Real estate investment AUM totaled $10.7 trillion worldwide in 2023.
Verified13U.S. ETF AUM grew to $8.1 trillion in 2023.
Verified14China's asset management AUM exceeded RMB 60 trillion ($8.4 trillion) in 2023.
Directional15UK asset management industry AUM was £9.0 trillion at end-2023.
Single source16Japan's public funds AUM stood at ¥240 trillion in 2023.
Verified17Canadian asset managers oversaw CAD 2.8 trillion in 2023.
Verified18Australia's superannuation industry AUM hit AUD 3.9 trillion in 2023.
Verified19India's mutual fund AUM reached INR 50 lakh crore ($600 billion) in 2023.
Directional20Brazil's asset management AUM was BRL 6.5 trillion in 2023.
Single source21Global pension assets under management totaled $56 trillion in 2023.
Verified22Sovereign wealth funds managed $11.3 trillion in AUM end-2023.
Verified23Family offices worldwide controlled $5.8 trillion in investable assets in 2023.
Verified24Robo-advisors AUM surpassed $1.5 trillion globally in 2023.
Directional25Sustainable investment AUM reached $30 trillion worldwide in 2022, growing into 2023.
Single source26High-net-worth individuals' managed assets hit $86 trillion globally in 2023.
Verified27U.S. 401(k) plans AUM was $7.4 trillion in 2023.
Verified28Global money market funds AUM stood at $6.5 trillion in 2023.
Verified29Fixed income AUM comprised 25% of global total, or $30 trillion in 2023.
Directional30Equity funds AUM was $28 trillion globally in 2023.
Single sourceMarket Size Interpretation
With a staggering $119.7 trillion under its care, the global asset management industry is a behemoth delicately balanced between the relentless, cost-efficient tide of passive strategies and the enduring, if pressured, human ambition of active management, all while wrestling with the explosive growth of everything from ETFs in America to pensions worldwide.
Regional
1U.S. dominates with 45% global revenue share in 2023.
Verified2Europe holds 28% of global AUM, concentrated in Luxembourg and Ireland.
Verified3Asia-Pacific accounts for 18% of world AUM, led by Japan and China.
Verified4Latin America AUM represents 3% globally, with Brazil at forefront.
Directional5Middle East AUM grew 15% to $2.5 trillion in 2023.
Single source6Africa’s asset management AUM at $1.2 trillion in 2023.
Verified7Luxembourg domiciled funds AUM: €5.5 trillion in 2023.
Verified8Ireland UCITS AUM: €4.2 trillion end-2023.
Verified9Japan’s GPIF AUM: ¥225 trillion in 2023.
Directional10Singapore asset managers AUM: SGD 5 trillion in 2023.
Single source11Hong Kong AUM: HKD 35 trillion in 2023.
Verified12Australia’s industry funds AUM: AUD 1.5 trillion.
Verified13Canada pension plans AUM: CAD 2.5 trillion.
Verified14India AUM growth 30% YoY to INR 61 trillion.
Directional15South Africa unit trusts AUM: ZAR 700 billion.
Single source16UAE sovereign funds AUM: $1.6 trillion.
Verified17Saudi Arabia PIF AUM: $925 billion in 2023.
Verified18Switzerland private banks AUM: CHF 2.5 trillion.
Verified19Netherlands pension AUM: €1.7 trillion.
Directional20Germany fund AUM: €3.5 trillion domiciled.
Single source21France insurance-linked AUM: €2 trillion.
VerifiedRegional Interpretation
The global asset management landscape reveals a familiar yet shifting hierarchy: the U.S. flexes its financial muscle with nearly half the world's revenue, Europe's powerhouses Luxembourg and Ireland serve as the continent's formidable vaults, Asia-Pacific is the ambitious and rapidly ascending challenger, while the Middle East's sovereign wealth is quietly amassing a staggering fortune, proving that even in finance, the sun never sets on someone's empire.
Revenue
1The asset management industry's global revenue reached $280 billion in 2023.
Verified2Average revenue margin for asset managers was 20.5 basis points on AUM in 2023.
Verified3U.S. asset managers generated $160 billion in fee revenue in 2023.
Verified4European fund management fees totaled €120 billion in 2023.
Directional5Passive strategies generated $95 billion in revenue globally in 2023.
Single source6Active equity management revenue was $110 billion worldwide in 2023.
Verified7ETF fee revenue hit $45 billion in 2023.
Verified8Alternative assets fee income reached $140 billion in 2023.
Verified9Private equity management fees were $70 billion globally in 2023.
Directional10Hedge fund industry fees totaled $85 billion in 2023.
Single source11U.S. mutual fund revenues amounted to $130 billion in 2023.
Verified12Asia-Pacific asset management revenues grew 15% to $50 billion in 2023.
Verified13Net operating income for top 500 managers was $200 billion in 2023.
Verified14Cost-income ratio for asset managers averaged 65% in 2023.
Directional15Profit margins for largest managers reached 35% in 2023.
Single source16Revenue from ESG products surged 25% to $25 billion in 2023.
Verified17Robo-advisor fee revenue was $6 billion globally in 2023.
Verified18Performance fees in alternatives were $40 billion in 2023.
Verified19Fixed income fund revenues totaled $60 billion in 2023.
Directional20Equity ETF revenues grew to $30 billion in 2023.
Single source21UK asset manager revenues were £55 billion in 2023.
Verified22Chinese AM industry revenues hit RMB 500 billion in 2023.
Verified23Global AUM growth contributed $1.2 trillion to revenue in 2023.
Verified24Top 20 managers captured 40% of industry revenues in 2023.
Directional25Operating expenses rose 8% to $180 billion industry-wide in 2023.
Single sourceRevenue Interpretation
The asset management industry, having perfected the art of skimming a surprisingly hearty 20.5 basis points off a mountain of money, generated a colossal $280 billion in 2023 by proving that whether you bet on a passive index, a star stock-picker, a private equity wizard, or a robo-advisor, the house always gets its vig.
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