Chinese asset managers account for a larger proportion of world assets under management (AUM) than ever before, according to data from Towers Watson's list of the world's top 500 managers.
Analysis of the Towers Watson data by Funds Global found that in 2010, there were 27 Chinese asset managers in the top 500, which together managed an estimated $334 billion. In the same report for 2014, there were 31 Chinese fund managers on the list with a combined $912 billion under management – an increase of 173%.
The largest Chinese firm by assets, in both 2010 and 2014, was China Asset Management, which doubled its assets under management over the period to $86 billion, placing it 147th out of 500.
The highest growth rate among the Chinese firms featured in the top 500 in both years was recorded by Penghua, which increased its assets under management nearly seven times over to an estimated $55 billion in 2014, which placed it at 195th in the list.
Overall, Towers Watson found that the top 500 asset managers increased their assets by 2% during 2014. US-based BlackRock kept its position as the world's largest asset manager.
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