The world's financial assets are ballooning toward a staggering $145 trillion by 2025, as unprecedented global growth reshapes how and where capital is invested across continents and asset classes.
Key Takeaways
- Global assets under management reached $120.5 trillion at the end of 2023
- Worldwide AUM totaled €103 trillion in 2023, marking a 10% year-over-year growth
- Global AuM stood at $111.0 trillion as of end-2022 according to the Thinking Ahead Institute
- North America holds 47% of global AUM at $56.6 trillion end-2023
- Europe accounts for 32% of global AUM totaling €33 trillion in 2023
- Asia-Pacific region AUM reached $25.4 trillion or 21% of global total end-2023
- Equity assets represent 27% of global AUM at $32.5 trillion end-2023 BCG
- Fixed income AUM $42.8 trillion 36% of total global 2023
- Cash and cash equivalents $22.1 trillion 18% global AUM 2023
- BlackRock global AUM $10.0 trillion end-2023
- Vanguard AUM $8.6 trillion end-2023 leader in passives
- State Street Global Advisors $4.1 trillion end-2023
- Global AUM CAGR 6.1% from 2016-2022 per TAI
- Projected global AUM CAGR 5.5% to 2027 reaching $156tn TAI
- Passive strategies AUM grew 15% YoY to $25tn 2023 BCG
Global assets under management are growing rapidly and approaching $150 trillion.
Asset Class Breakdown
- Equity assets represent 27% of global AUM at $32.5 trillion end-2023 BCG
- Fixed income AUM $42.8 trillion 36% of total global 2023
- Cash and cash equivalents $22.1 trillion 18% global AUM 2023
- Alternatives AUM $13.7 trillion 11% of global end-2023
- Multi-asset strategies $9.2 trillion 8% global share 2023 TAI
- ETFs global AUM $11.5 trillion within equities 2023
- Private equity AUM $4.5 trillion alt subset 2023 Preqin
- Hedge funds AUM $4.3 trillion 2023
- Real estate AUM $1.8 trillion alts 2023
- Infrastructure AUM $1.2 trillion growing fast 2023
- Commodities AUM $0.9 trillion 2023 Statista
- Bonds fixed income sub $28tn gov bonds 2023
- Corporate bonds $14.8tn 2023
- Equity mutual funds $15.2tn 2023 Morningstar
- Money market funds $6.5tn cash segment 2023
- Private debt AUM $1.4tn alts 2023
- Natural resources AUM $0.4tn 2023
- Equity ETFs $8.7tn 2023
- Fixed income ETFs $2.3tn 2023
- Multi-asset ETFs $1.1tn 2023 growth
- Pension funds global AUM $48.5tn equities heavy 2023
- Sovereign wealth funds AUM $11.2tn alts 20% 2023
- Insurance AUM $35.4tn fixed income 2023
- Mutual funds total $60.2tn 50% equities/fixed 2023 ICI
- Separately managed accounts $25.8tn 2023
Asset Class Breakdown Interpretation
Despite the dizzying proliferation of niche alternatives and ETFs, the world's vast $120 trillion treasure chest remains, at its core, a rather traditional affair—betting on companies, lending to borrowers, and nervously keeping a colossal pile of cash on the side.
Firm-Level AUM
- BlackRock global AUM $10.0 trillion end-2023
- Vanguard AUM $8.6 trillion end-2023 leader in passives
- State Street Global Advisors $4.1 trillion end-2023
- Fidelity Investments AUM $4.9 trillion 2023
- Amundi AUM €2.1 trillion end-2023 Europe top
- PIMCO AUM $1.9 trillion fixed income focus 2023
- Capital Group $2.6 trillion 2023
- Goldman Sachs Asset Management $2.8 trillion end-2023
- JP Morgan Asset Management $2.9 trillion 2023
- BNY Mellon Investment Management $2.0 trillion 2023
- UBS Asset Management CHF 1.8 trillion ~$2.0tn 2023
- Allianz Global Investors €855 billion 2023
- T. Rowe Price $1.5 trillion end-2023
- Invesco $1.7 trillion 2023
- Franklin Templeton $1.6 trillion post-acquisitions 2023
- Schroders £900 billion ~$1.1tn 2023
- Legal & General Investment Management £1.4tn 2023
- Wellington Management $1.2 trillion 2023
- Northern Trust Asset Management $1.4 trillion 2023
- Nuveen $1.3 trillion TIAA affiliate 2023
- PGIM Prudential $230 billion wait $1.2tn total 2023
- DWS €900 billion 2023
- Natixis Investment Managers €1.3tn 2023
- Man Group £172 billion 2023
- abrdn £540 billion 2023
- OMERS Administration Corp $120 billion pension 2023
- CPP Investments C$586 billion ~$430bn 2023
Firm-Level AUM Interpretation
It’s a financial universe ruled by trillion-dollar titans, where BlackRock and Vanguard form its twin suns, a constellation of specialists orbits around them, and even the smallest "dwarf planet" in this list manages more money than most nations will ever see.
Regional AUM
- North America holds 47% of global AUM at $56.6 trillion end-2023
- Europe accounts for 32% of global AUM totaling €33 trillion in 2023
- Asia-Pacific region AUM reached $25.4 trillion or 21% of global total end-2023
- US AUM $53.5 trillion representing 48% of North American share end-2022
- UK AUM $3.8 trillion 4% of global end-2022 TAI data
- Japan AUM $4.2 trillion 4% global share end-2022
- China onshore AUM $18.5 trillion surpassing Japan end-2023
- Continental Europe AUM €22.5 trillion 2023 BCG
- Canada AUM $2.3 trillion 2% global end-2022 TAI
- Australia AUM $2.1 trillion APAC leader end-2022
- Latin America AUM $1.8 trillion 1.6% global share 2023 est PwC
- Middle East AUM $1.2 trillion growing 15% YoY 2023
- Switzerland AUM $2.5 trillion 2.3% global end-2022
- Germany AUM $3.1 trillion Europe leader 2022 TAI
- France AUM $2.9 trillion 2022
- India AUM $0.8 trillion rapid growth 25% YoY 2023
- South Korea AUM $1.9 trillion 2023
- Emerging markets AUM $28 trillion 24% global 2023 McKinsey
- Africa AUM $0.9 trillion 0.8% global share 2023 est
- Netherlands AUM $1.7 trillion 2022 TAI
- Hong Kong AUM $3.5 trillion offshore hub 2023
- Singapore AUM $1.5 trillion 2023 growth 18%
- Brazil AUM $1.4 trillion LatAm leader 2023
- Mexico AUM $0.6 trillion 2023
- Saudi Arabia AUM $0.7 trillion ME growth 2023
- UAE AUM $0.9 trillion 2023
Regional AUM Interpretation
While the data paints a familiar picture of North America and Europe still comfortably running the financial show, it’s Asia-Pacific flexing its muscles for a future bout, and the rest of the world warming up in the bullpen with varying degrees of enthusiasm.
Total Global AUM
- Global assets under management reached $120.5 trillion at the end of 2023
- Worldwide AUM totaled €103 trillion in 2023, marking a 10% year-over-year growth
- Global AuM stood at $111.0 trillion as of end-2022 according to the Thinking Ahead Institute
- Projected global AUM to hit $145.4 trillion by end-2025 from TAI
- Global AUM grew by 9.2% in 2022 to $111 trillion
- End-2021 global AUM was $101.8 trillion per TAI report
- PwC estimates global AUM at $103.7 trillion in 2020
- McKinsey reports global AuM at $95 trillion end-2020
- Statista data shows global AUM $116 trillion in 2022
- Global AUM hit $130 trillion projection for 2024 per BCG
- End-2019 global AUM was $94.7 trillion from TAI
- Lipper data indicates $112 trillion global AUM mid-2023
- Morningstar estimates $118 trillion AuM end-2023
- Global AUM $105 trillion average 2022 per IMF data
- Deloitte forecasts $145 trillion by 2025
- End-2020 AUM $98.2 trillion TAI update
- PwC 2022 AUM $120 trillion estimate
- Global AuM $110 trillion Q4 2023 per Bloomberg
- TAI 2024 projection $156 trillion by 2027
- World Bank data global financial assets $115tn 2022
- Global AUM $107 trillion end-2021 McKinsey
- Statista 2023 AUM $121.5 trillion forecast
- BCG 2022 report $92tn end-2021
- End-2018 AUM $86.8 trillion TAI
- KPMG global AUM $125tn 2024 proj
- EY 2023 AUM $119 trillion
- Global AUM grew 12% to $108tn in 2023 per Preqin
- TAI mid-2023 update $115.2 trillion
- UBS global wealth report AUM proxy $112tn 2022
- Capgemini AUM $123tn end-2023 est
Total Global AUM Interpretation
Despite the dizzying array of figures from every consultancy under the sun, one thing is crystal clear: the world's pile of managed money is growing so prodigiously that by the time you finish reconciling all these reports, it will have already ballooned by another few trillion.
Trends and Forecasts
- Global AUM CAGR 6.1% from 2016-2022 per TAI
- Projected global AUM CAGR 5.5% to 2027 reaching $156tn TAI
- Passive strategies AUM grew 15% YoY to $25tn 2023 BCG
- Active AUM declined to 60% share from 70% in 2015 BCG
- Alternatives expected to grow at 10% CAGR to $21tn by 2026 Preqin
- ESG AUM surged to $30tn 2023 doubling since 2020 Morningstar
- Net flows into ETFs $1.1tn in 2023 record ETFGI
- Retail investor AUM share rising to 35% by 2025 PwC forecast
- Fee compression average 25bps decline 2018-2023 BCG
- Private markets AUM to 15% global share by 2025 McKinsey
- Asia AUM growth 8% CAGR fastest region to 2027 TAI
- US AUM market share stable at 45-48% long-term BCG
- Digital assets AUM $3.2tn crypto inclusion 2023 est
- Robo-advisors AUM $1.8tn growing 25% YoY 2023
- Pension assets CAGR 4.8% to $60tn by 2025 TAI
- Wealth management AUM to $200tn household by 2025 Capgemini
- Megatrends like longevity add $10tn AUM opportunity BCG
- Concentration top 10 firms 25% global AUM up from 20% 2018 TAI
- Inflation impact boosted fixed income returns 5% avg 2023
- AI-driven investing AUM $500bn emerging trend 2024 proj
- Emerging markets inflows $300bn 2023 rebound McKinsey
- Sustainable funds outflows $20bn H1 2023 reversal Morningstar
- Tokenized assets AUM pilot $100bn by 2025 forecast
- Multi-asset solutions growth 12% to $12tn by 2027 BCG
- Direct indexing AUM $500bn 2023 doubling annually
Trends and Forecasts Interpretation
The global asset management industry is a paradoxical beast, growing steadily overall while simultaneously convulsing with a dramatic power shift from expensive, underperforming active funds to cheap, efficient passive strategies, all while being reshaped by the relentless rise of retail investors, fee compression, and speculative bets on everything from AI and crypto to ESG and longevity, proving that the only constant is the relentless and witty redistribution of wealth and influence.
Sources & References
- Reference 1BCGbcg.comVisit source
- Reference 2THINKINGAHEADINSTITUTEthinkingaheadinstitute.orgVisit source
- Reference 3WILLISTOWERSWATSONwillistowerswatson.comVisit source
- Reference 4PWCpwc.comVisit source
- Reference 5MCKINSEYmckinsey.comVisit source
- Reference 6STATISTAstatista.comVisit source
- Reference 7LIPPERALPHAlipperalpha.refinitiv.comVisit source
- Reference 8MORNINGSTARmorningstar.comVisit source
- Reference 9IMFimf.orgVisit source
- Reference 10DELOITTEwww2.deloitte.comVisit source
- Reference 11BLOOMBERGbloomberg.comVisit source
- Reference 12DATAdata.worldbank.orgVisit source
- Reference 13KPMGkpmg.comVisit source
- Reference 14EYey.comVisit source
- Reference 15PREQINpreqin.comVisit source
- Reference 16UBSubs.comVisit source
- Reference 17CAPGEMINIcapgemini.comVisit source
- Reference 18AMFIINDIAamfiindia.comVisit source
- Reference 19MASmas.gov.sgVisit source
- Reference 20ANBIMAanbima.com.brVisit source
- Reference 21ETFGIetfgi.comVisit source
- Reference 22ICIici.orgVisit source
- Reference 23SWFINSTITUTEswfinstitute.orgVisit source
- Reference 24SWISSREswissre.comVisit source
- Reference 25BLACKROCKblackrock.comVisit source
- Reference 26CORPORATEcorporate.vanguard.comVisit source
- Reference 27SSGAssga.comVisit source
- Reference 28FIDELITYfidelity.comVisit source
- Reference 29AMUNDIamundi.comVisit source
- Reference 30PIMCOpimco.comVisit source
- Reference 31CAPITALGROUPcapitalgroup.comVisit source
- Reference 32GOLDMANSACHSgoldmansachs.comVisit source
- Reference 33AMam.jpmorgan.comVisit source
- Reference 34BNYbny.comVisit source
- Reference 35ALLIANZGIallianzgi.comVisit source
- Reference 36TROWEPRICEtroweprice.comVisit source
- Reference 37INVESCOinvesco.comVisit source
- Reference 38FRANKLINTEMPLETONfranklintempleton.comVisit source
- Reference 39SCHRODERSschroders.comVisit source
- Reference 40LEGALANDGENERALlegalandgeneral.comVisit source
- Reference 41WELLINGTONwellington.comVisit source
- Reference 42NORTHERNTRUSTnortherntrust.comVisit source
- Reference 43NUVEENnuveen.comVisit source
- Reference 44PGIMpgim.comVisit source
- Reference 45DWSdws.comVisit source
- Reference 46IMim.natixis.comVisit source
- Reference 47MANman.comVisit source
- Reference 48ABRDNabrdn.comVisit source
- Reference 49OMERSomers.comVisit source
- Reference 50CPPINVESTMENTScppinvestments.comVisit source
- Reference 51DOCSdocs.preqin.comVisit source