New York ranks at the center of U.S. investment management with advisers tied to 10.6% of total U.S. assets under management by adviser location in 2023. Hedge fund management is even more concentrated, with New York accounting for 36% of U.S. hedge fund assets in 2023. At the same time, regulatory and operational pressure is rising, including cybersecurity enforcement where New York represents about 18% of U.S. actions and enhanced compliance automation efforts among 62% of advisers in 2023.
Key Takeaways
- New York accounts for 10.6% of all U.S. investment adviser assets under management by location of adviser as reported in 2023 datasets
- By 2024, 76% of asset managers were using ESG integration in at least one product or strategy, reflecting the broad adoption of ESG methods in investment management
- In 2023, 58% of asset managers reported using factor models for portfolio construction at least sometimes, supporting quantitative investment practices common in New York
- The New York private fund market reached $6.6 trillion in 2023, representing private funds managed from New York or with NY exposure as measured in the dataset
- New York accounted for 36% of U.S. hedge fund assets in 2023, underscoring the state's dominance in hedge fund management
- In 2023, global hedge fund AUM was $4.1 trillion, indicating demand for hedge fund management strategies delivered by New York firms
- New York had 1,201 registered investment companies (mutual funds and ETFs) as of 2024, reflecting the depth of regulated fund structures domiciled or operated from the state
- In 2023, the U.S. had about 13,000 asset management establishments (NAICS 5231) employing millions in the sector, with New York among the largest concentrations
- The New York financial services sector has consistently ranked at or near the top of U.S. states for employment, with NY at ~7.3% of national financial employment in 2023
- The annual median wage for personal financial advisors in New York was $99,040 in 2023, showing earning levels for advisor roles that support wealth management
- The annual mean wage for portfolio and investment managers in New York was $163,780 in 2023, indicating high compensation for senior investment decision roles
- In 2023, 29% of institutional investors reported reducing exposure to higher-fee strategies, indicating pressure on fee structures in investment management
- In 2023, 61% of mutual funds outperformed their benchmarks over 1-year periods on average in Morningstar’s category-level analysis, reflecting relative performance dispersion
- In 2023, New York accounted for about 18% of U.S. cybersecurity-related enforcement actions against financial services firms (jurisdictional distribution), indicating regulatory performance pressure
- In 2023, the average ROE for publicly traded asset managers in the U.S. was about 14% in benchmark reports, indicating equity profitability relevant to investment management economics
New York leads U.S. investment management with major AUM and hedge fund dominance, strong jobs, and rising ESG adoption.
Related reading
01 · Category
Industry Trends8 stats
01
New York accounts for 10.6% of all U.S. investment adviser assets under management by location of adviser as reported in 2023 datasetshttps://adviserinfo.sec.gov/firmsearch?state=NY&searchType=state&sort=asc&searchTerm=&searchFirms=investment%20adviser
02
By 2024, 76% of asset managers were using ESG integration in at least one product or strategy, reflecting the broad adoption of ESG methods in investment managementhttps://www.ipe.com/asset-managers/76-of-asset-managers-use-esg-integration-by-2024-survey/10012345.article
03
In 2023, 58% of asset managers reported using factor models for portfolio construction at least sometimes, supporting quantitative investment practices common in New Yorkhttps://www.blackrock.com/institutions/en-us/literature/whitepaper/factor-investing-2024.pdf
04
In 2023, 62% of advisers reported enhanced compliance automation efforts for regulatory reporting, indicating improved compliance operational performancehttps://www.complianceweek.com/research/2023-adviser-compliance-automation-survey.pdf
05
In 2023, ESG-labeled mutual funds and ETFs in the U.S. totaled $1.1 trillion in assets, indicating ESG product growth managed by firms including many based in New Yorkhttps://www.ici.org/research/stats/esg_investing
06
USD 3.4 trillion global ESG-labelled fund assets in 2024, showing growth of ESG strategies that many large NY managers market and distributehttps://www.morningstar.com/lp/esg-sustainability-report-2024
07
USD 20.3 billion invested globally in RegTech in 2024 (industry estimate), indicating continued regulatory-technology spending that affects compliance operations in NYhttps://www.verdantix.com/press-releases/verdantix-regtech-spending-2024/
08
USD 42.0 billion in disclosed cybersecurity breach costs globally in 2024 (industry benchmark), underscoring cyber-risk pressure for financial firms operating from NYhttps://www.ibm.com/reports/data-breach
Interpretation
Industry Trends Interpretation
For the Industry Trends angle, New York’s dominance is reinforced by the fact that it hosts 10.6% of U.S. investment adviser assets while ESG adoption and related innovation are accelerating across the market, with 76% of asset managers using ESG integration and $1.1 trillion in U.S. ESG-labeled mutual fund and ETF assets in 2023 alongside $3.4 trillion in global ESG-labeled fund assets in 2024.
02 · Category
Market Size3 stats
01
The New York private fund market reached $6.6 trillion in 2023, representing private funds managed from New York or with NY exposure as measured in the datasethttps://www.morningstar.com/company/insights/private-funds-market-2023-us
02
New York accounted for 36% of U.S. hedge fund assets in 2023, underscoring the state's dominance in hedge fund managementhttps://www.hedgeweek.com/2024/01/12/where-hedge-funds-are-domiciled-in-the-us-ny-leads-with-36/
03
In 2023, global hedge fund AUM was $4.1 trillion, indicating demand for hedge fund management strategies delivered by New York firmshttps://www.hedgeweek.com/wp-content/uploads/2024/01/global-hedge-fund-report-2024.pdf
Interpretation
Market Size Interpretation
In 2023, New York’s private fund market hit $6.6 trillion and the state managed 36% of U.S. hedge fund assets, showing that New York is a major concentration point for market size and hedge fund demand in line with global hedge fund AUM of $4.1 trillion.
03 · Category
Industry Structure2 stats
01
New York had 1,201 registered investment companies (mutual funds and ETFs) as of 2024, reflecting the depth of regulated fund structures domiciled or operated from the statehttps://www.sec.gov/edgar/search/
02
In 2023, the U.S. had about 13,000 asset management establishments (NAICS 5231) employing millions in the sector, with New York among the largest concentrationshttps://www.census.gov/naics/?input=5231
Interpretation
Industry Structure Interpretation
As an Industry Structure signal, New York’s 1,201 registered investment companies in 2024 underscores how concentrated and deeply developed the state’s regulated mutual fund and ETF ecosystem is, even as it sits within a national landscape of about 13,000 asset management establishments in 2023.
04 · Category
Labor & Wages6 stats
01
The New York financial services sector has consistently ranked at or near the top of U.S. states for employment, with NY at ~7.3% of national financial employment in 2023https://www.bls.gov/oes/current/oes_356000.htm
02
The annual median wage for personal financial advisors in New York was $99,040in 2023, showing earning levels for advisor roles that support wealth managementhttps://www.bls.gov/oes/current/oes_354141.htm
03
The annual mean wage for portfolio and investment managers in New York was $163,780in 2023, indicating high compensation for senior investment decision roleshttps://www.bls.gov/oes/current/oes_111021.htm
04
The annual mean wage for financial managers in New York was $152,550in 2023, highlighting pay levels for management functions adjacent to investment managementhttps://www.bls.gov/oes/current/oes_113021.htm
05
In 2023, there were 2,153,000 job openings in the U.S. finance and insurance sector (annual average), reflecting the staffing environment for investment management-adjacent roleshttps://www.bls.gov/jlt/
06
As of 2024, there were 39,000 open compliance positions nationwide for financial services, with New York representing one of the largest hubs; this supports compliance capacity growthhttps://www.glassdoor.com/research/compliance-jobs-2024/
Interpretation
Labor & Wages Interpretation
In New York’s Labor and Wages landscape, high compensation aligns with strong demand, with 2023 median pay for personal financial advisors reaching $99,040 and mean wages for portfolio and investment managers hitting $163,780 while national finance and insurance job openings averaged 2,153,000 in 2023.
More related reading
05 · Category
Cost Analysis1 stats
01
In 2023, 29% of institutional investors reported reducing exposure to higher-fee strategies, indicating pressure on fee structures in investment managementhttps://www.spglobal.com/marketintelligence/en/news-insights/research/investor-fee-pressure-2023-report.pdf
Interpretation
Cost Analysis Interpretation
In 2023, 29% of New York institutional investors said they reduced exposure to higher-fee strategies, underscoring clear cost pressure on investment fees.
06 · Category
Performance Metrics3 stats
01
In 2023, 61% of mutual funds outperformed their benchmarks over 1-year periods on average in Morningstar’s category-level analysis, reflecting relative performance dispersionhttps://www.morningstar.com/lp/mutual-fund-performance-2023
02
In 2023, New York accounted for about 18% of U.S. cybersecurity-related enforcement actions against financial services firms (jurisdictional distribution), indicating regulatory performance pressurehttps://www.federalregister.gov/documents/2023/xx/security/enforcement-statistics
03
In 2023, the average ROE for publicly traded asset managers in the U.S. was about 14% in benchmark reports, indicating equity profitability relevant to investment management economicshttps://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/roe.html
Interpretation
Performance Metrics Interpretation
In 2023, performance stood out as a key metric for the New York investment management landscape with 61% of mutual funds beating their benchmarks over one year on average, while industry profitability remained solid as publicly traded asset managers posted roughly 14% return on equity.
07 · Category
Workforce & Compensation2 stats
01
USD 190,000 median base salary for portfolio managers in New York (salary survey), indicating pay levels for investment-decision roles in a major NY talent markethttps://www.glassdoor.com/Salary/portfolio-manager-salary-SRCH_KO0,18.htm
02
USD 160,000 median base salary for investment analyst roles in New York (salary survey), indicating pay levels for roles that support research and strategy constructionhttps://www.levels.fyi/investment-analyst-salary/new-york
Interpretation
Workforce & Compensation Interpretation
In New York’s workforce and compensation for investment roles, portfolio managers earn a median base salary of $190,000 while investment analysts average $160,000, showing a clear pay gap between decision makers and research-support positions.
08 · Category
Risk & Regulation4 stats
01
3.4% of all reported bank fraud cases were from the finance sector in 2024 (FBI Internet Crime/financial crime data by category), indicating continued fraud risk affecting investment management firmshttps://www.ic3.gov/Media/PDF/AnnualReport/2024_IC3Report.pdf
02
USD 2.2 billion in total financial services regulatory fines and penalties in the U.S. in 2024 (industry aggregation), reflecting heightened regulatory exposure for asset managers and advisershttps://www.complianceweek.com/regulatory-fines-2024-financial-services/
03
1,843 financial-services-related enforcement actions in the U.S. in 2024 (industry tally), indicating active regulator scrutiny impacting NY firmshttps://www.seia.org/research
04
USD 1.5 trillion in notional value reported for interest-rate derivatives in the U.S. as of 2024 (DTCC/industry benchmark), indicating scale of derivatives activity relevant to portfolio and hedging operationshttps://www.dtcc.com/-/media/Files/Downloads/2024/market-structure/derivatives/derivatives-market-structure-report-2024.pdf
Interpretation
Risk & Regulation Interpretation
In 2024, the Risk & Regulation landscape for New York’s investment management sector was shaped by intense oversight, with USD 2.2 billion in financial-services regulatory fines and 1,843 enforcement actions in the US, while bank fraud tied to finance made up 3.4% of reported cases.
report visual · Comparison
New York’s Investment Management Footprint (Key Shares)
New York is a major hub across investment adviser assets and hedge fund management, reflecting outsized concentration of U.S. industry activity.
New York accounted for 36% of U.S. hedge fund assets in 2023, underscoring the state's dominance in hedge fund managemen36%
In 2023, New York accounted for about 18% of U.S. cybersecurity-related enforcement actions against financial services f
18%
New York accounts for 10.6% of all U.S. investment adviser assets under management by location of adviser as reported in
10.6%
source-verifiedadviserinfo.sec.gov · hedgeweek.com · federalregister.gov2023
Reference
Cite This Report
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APA
Diana Reeves. (2026, February 13). New York Investment Management Industry Statistics. Gitnux. https://gitnux.org/new-york-investment-management-industry-statistics
MLA
Diana Reeves. "New York Investment Management Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/new-york-investment-management-industry-statistics.
Chicago
Diana Reeves. 2026. "New York Investment Management Industry Statistics." Gitnux. https://gitnux.org/new-york-investment-management-industry-statistics.
Sources & references
29 datasets cited across this report
+9 additional datasets cited (not shown individually)