SOURCE: Institutional Investor

Institutional Investor

July 08, 2014 06:15 ET

Assets Top $42 Trillion at America's Largest Money Managers, Institutional Investor Survey Finds

Roughly 10 Percent of That Total Is Managed by BlackRock; Vanguard Picks Up Another $444 billion

NEW YORK, NY--(Marketwired - Jul 8, 2014) - The S&P 500 surged some 30 percent last year, logging its highest annual gain since 1997, so it's hardly surprising that the largest asset managers in the U.S. report significant AUM gains for 2013. Total assets in the II300, Institutional Investor's annual ranking of the country's top money managers, increased by $3.57 trillion, to $42.3 trillion.

Complete results can be found at www.institutionalinvestor.com.

The ranks of the top 15 firms are little changed from last year, with only Malvern, Pennsylvania-based Vanguard Group and Allianz Asset Management of Newport Beach, California, switching spots, to third and fourth place, respectively.

Index fund giant Vanguard is the year's biggest gainer, in percentage terms: Its total soars by nearly 25 percent, to $2.29 trillion. In dollar terms its $444 billion increase is second only to the gain notched by the No. 1 firm, New York-based BlackRock, whose total jumps by $532.7 billion, to $4.3 trillion. 

Allianz is the year's biggest loser, in dollar terms. It owns Pacific Investment Management Co., the fixed-income manager run by Bill Gross that sustained tens of billions of dollars in net redemptions -- PIMCO's Total Return Fund alone lost a record $41.1 billion last year -- after misjudging the Federal Reserve's plans to scale back its program of quantitative easing. Allianz's total falls by roughly $69.2 billion, to approximately $2 trillion.

The only other firm in the top 25 to report an AUM decline is the asset manager at No. 25, Federated Investors. The Pittsburgh-based firm's total slips less than 1 percent, from $379.7 billion to $376.1 billion.

For more information contact Alyssa Walker at awalker@iiresearchgroup.com or (212) 224-3677.

About Institutional Investor
Now in its fifth decade, Institutional Investor has consistently distinguished itself among the world's foremost financial publications with groundbreaking journalism and incisive writing that provides essential intelligence for a global audience. In addition, Institutional Investor offers a host of proprietary research and rankings that serve as respected industry benchmarks. For more information visit www.institutionalinvestor.com.