要約
世界的金融サービス大手、ウイリス・タワーズワトソン傘下のシンキング・アヘッド・インスティテュート（TAI）が、2023年度の世界資産運用規模上位500社のランキングを発表した。
https://www.thinkingaheadinstitute.org/research-papers/the-worlds-largest-asset-managers-2024
- 2023年末時点で、ランキングに含まれる運用会社500社の一任運用資産（AUM）総額は128.0兆米ドルに達し、2022年末から12.5％増加しました。
- ブラックロックは2009年以来、最大の資産運用会社としての地位を維持しています。バンガードは2012年以来2位を維持し、フィデリティ・インベストメンツは4年連続でトップ3に入っています。
- 地域別のAUMの伸び：
- 北米が15.0％増と最大の成長を示し、欧州（英国を含む）が12.4％増でそれに続きました。
- 日本は0.7％減とわずかに減少しました。
- その他の地域の運用会社は3.2％増と緩やかな増加を示しました。
- 北米の運用資産残高は、2023年末時点で77.8兆米ドルとなり、上位500社の運用資産残高の60.8％を占めています。
- 上位20社の運用資産シェアは、2022年の44.2％から2023年には45.5％に増加し、彼らの総運用資産は15.9％増加して58.2兆ドルになりました。
- 上位20社のうち14社は米国企業で、上位20社の運用資産の80.3％を占めています。残りは欧州企業です。
- 上位20社の内訳：
- 12社が独立系資産運用会社
- 6社が銀行
- 2社が保険会社系運用会社
- 株式と債券は依然として主要な資産クラスであり、全体の77.3％（株式48.3％、債券29.0％）を占めています。これは前年比0.2％の減少となります。
- パッシブ運用への投資は現在総資産の33.7％を占めており、投資シェアは6.1％増加しています。一方、アクティブ運用資産は66.3％を占めており、前年比2.9％減少しています。
AUM成長率が最も高い企業群
上位50社の中で最も年平均成長率（CAGR）の高い企業
トップ50で最大の順位上昇
AUM 1-50 (in US$ million)
| 1.BlackRock U.S. | 10,008,995 |
| 2.Vanguard Group U.S. | 8,593,307 |
| 3.Fidelity Investments U.S. | 4,581,980 |
| 4.State Street Global U.S. | 4,127,817 |
| 5.J.P. Morgan Chase U.S. | 3,422,000 |
| 6.Goldman Sachs Group U.S. | 2,812,000 |
| 7.UBS Switzerland | 2,620,000 |
| 8.Capital Group U.S. | 2,532,813 |
| 9.Allianz Group Germany | 2,454,495 |
| 10.Amundi France | 2,250,226 |
| 11.BNY Investments U.S. | 1,974,322 |
| 12.Invesco U.S. | 1,585,344 |
| 13.Legal & General Group U.K. | 1,475,442 |
| 14.Franklin Templeton U.S. | 1,455,506 |
| 15.Prudential Financial U.S. | 1,449,673 |
| 16.T. Rowe Price Group U.S. | 1,444,500 |
| 17.Northern Trust U.S. | 1,434,500 |
| 18.Morgan Stanley Inv. Mgmt. U.S. | 1,373,456 |
| 19.BNP Paribas France | 1,364,099 |
| 20.Natixis Investment Managers France | 1,288,581 |
| 21.Wellington Mgmt. U.S. | 1,219,910 |
| 22.Nuveen U.S. | 1,187,693 |
| 23.Geode Capital Mgmt. U.S. | 1,154,904 |
| 24.Ameriprise Financial U.S. | 1,081,100 |
| 25.Charles Schwab Investment U.S. | 1,068,923 |
| 26.Sun Life Financial Canada | 1,055,778 |
| 27.AXA Group France | 1,043,497 |
| 28.Blackstone U.S. | 1,040,192 |
| 29.Power Financial Canada | 996,483 |
| 30.Deutsche Bank Germany | 990,366 |
| 31.Brookfield Asset Mgmt. Canada | 916,000 |
| 32.Aegon Group Netherlands | 911,338 |
| 33.Manulife Canada | 910,273 |
| 34.Sumitomo Mitsui Trust Holdings Japan | 905,393 |
| 35.Schroders U.K. | 818,875 |
| 36.Fidelity International 1 U.K. | 816,900 |
| 37.Royal Bank of Canada 2 Canada | 805,258 |
| 38.Mitsubishi UFJ Financial Group Japan | 788,261 |
| 39.Postal Savings Bank of China China | 759,919 |
| 40.Federated Hermes U.S. | 757,622 |
| 41.AllianceBernstein U.S. | 725,200 |
| 42.HSBC Holdings U.K. | 711,091 |
| 43.Principal Financial U.S. | 694,500 |
| 44.New York Life Investments U.S. | 686,900 |
| 45.Dimensional Fund Advisors U.S. | 677,141 |
| 46.Affiliated Managers Group U.S. | 672,700 |
| 47.Macquarie Group Australia | 601,857 |
| 48.MetLife Investment Mgmt. U.S. | 600,800 |
| 49.Nippon Life Insurance 3 Japan | 594,127 |
| 50.Generali Group Italy | 569,478 |
| Rank | Manager | Market | Total assets |
| 1 | BlackRock | U.S. | $8,594,488 |
| 2 | Vanguard Group | U.S. | $7,252,612 |
| 3 | Fidelity Investments | U.S. | $3,655,574 |
| 4 | State Street Global | U.S. | $3,481,473 |
| 5 | J.P. Morgan Chase | U.S. | $2,766,000 |
| 6 | Goldman Sachs Group | U.S. | $2,547,000 |
| 7 | Allianz Group | Germany | $2,285,496 |
| 8 | Capital Group | U.S. | $2,175,965 |
| 9 | Amundi | France | $2,031,753 |
| 10 | UBS | Switzerland | $1,845,000 |
| 11 | BNY Mellon | U.S. | $1,836,032 |
| 12 | Legal & General Group | U.K. | $1,444,393 |
| 13 | Invesco | U.S. | $1,409,204 |
| 14 | Franklin Templeton | U.S. | $1,387,686 |
| 15 | Prudential Financial | U.S. | $1,377,417 |
| 16 | T. Rowe Price Group | U.S. | $1,274,700 |
| 17 | BNP Paribas | France | $1,269,246 |
| 18 | Northern Trust | U.S. | $1,249,500 |
| 19 | Morgan Stanley Inv. Mgmt. | U.S. | $1,234,226 |
| 20 | Natixis Investment Managers | France | $1,151,280 |
| 21 | Wellington Mgmt. | U.S. | $1,149,360 |
| 22 | Nuveen | U.S. | $1,090,174 |
| 23 | HSBC Holdings | U.K. | $1,087,000 |
| 24 | AXA Group | France | $995,407 |
| 25 | Sun Life Financial | Canada | $978,776 |
| 26 | Ameriprise Financial | U.S. | $956,300 |
| 27 | Power Financial | Canada | $917,607 |
| 28 | Schroders | U.K. | $887,227 |
| 29 | Deutsche Bank | Germany | $876,789 |
| 30 | Geode Capital Mgmt. | U.S. | $866,352 |
| 31 | Sumitomo Mitsui Trust Holdings | Japan | $855,024 |
| 32 | Manulife | Canada | $844,776 |
| 33 | Aegon Group | Netherlands | $797,852 |
| 34 | Brookfield Asset Mgmt. | Canada | $790,000 |
| 35 | Charles Schwab Investment | U.S. | $757,647 |
| 36 | Royal Bank of Canada 1 | Canada | $737,999 |
| 37 | Mitsubishi UFJ Financial Group | Japan | $728,633 |
| 38 | Postal Savings Bank of China 2 | China | $715,966 |
| 39 | Federated Hermes | U.S. | $668,901 |
| 40 | Fidelity International | U.K. | $663,100 |
| 41 | New York Life Investments | U.S. | $653,638 |
| 42 | Affiliated Managers Group | U.S. | $650,800 |
| 43 | AllianceBernstein | U.S. | $646,400 |
| 44 | Nippon Life Insurance 3 | Japan | $642,528 |
| 45 | Principal Financial | U.S. | $635,300 |
| 46 | Dimensional Fund Advisors | U.S. | $583,714 |
| 47 | MetLife Investment Mgmt. | U.S. | $579,837 |
| 48 | Macquarie Group | Australia | $542,791 |
| 49 | Generali Group | Italy | $538,762 |
| 50 | Dai-ichi Life Holdings | Japan | $538,289 |
| Rank | Manager | Market | Total assets |
| 1 | BlackRock | U.S. | $10,010,143 |
| 2 | Vanguard Group | U.S. | $8,466,372 |
| 3 | Fidelity Investments | U.S. | $4,233,825 |
| 4 | State Street Global | U.S. | $4,138,172 |
| 5 | J.P. Morgan Chase | U.S. | $3,113,000 |
| 6 | Allianz Group | Germany | $2,954,432 |
| 7 | Capital Group | U.S. | $2,715,178 |
| 8 | Goldman Sachs Group | U.S. | $2,470,000 |
| 9 | BNY Mellon | U.S. | $2,434,330 |
| 10 | Amundi | France | $2,332,454 |
| 11 | UBS | Switzerland | $2,124,000 |
| 12 | Legal & General Group | U.K. | $1,917,486 |
| 13 | Prudential Financial | U.S. | $1,742,326 |
| 14 | T. Rowe Price | U.S. | $1,687,800 |
| 15 | Invesco | U.S. | $1,610,915 |
| 16 | Northern Trust | U.S. | $1,607,100 |
| 17 | Franklin Templeton | U.S. | $1,578,124 |
| 18 | Morgan Stanley Inv. Mgmt. | U.S. | $1,492,849 |
| 19 | BNP Paribas | France | $1,439,280 |
| 20 | Wellington Mgmt. | U.S. | $1,425,481 |
| 21 | Natixis Investment Managers | France | $1,416,336 |
| 22 | Nuveen | U.S. | $1,261,741 |
| 23 | HSBC Holdings | U.K. | $1,191,000 |
| 24 | AXA Group | France | $1,190,209 |
| 25 | Ameriprise Financial | U.S. | $1,171,000 |
| 26 | Aegon Group | Netherlands | $1,158,507 |
| 27 | Sun Life Financial | Canada | $1,130,370 |
| 28 | Sumitomo Mitsui Trust Holdings | Japan | $1,065,607 |
| 29 | Deutsche Bank | Germany | $1,054,813 |
| 30 | Geode Capital Mgmt. | U.S. | $1,008,798 |
| 31 | Manulife | Canada | $968,746 |
| 32 | Power Financial | Canada | $967,841 |
| 33 | Blackstone | U.S. | $880,902 |
| 34 | Mitsubishi UFJ Financial Group | Japan | $877,800 |
| 35 | Schroders | U.K. | $829,868 |
| 36 | Affiliated Managers Group | U.S. | $813,800 |
| 37 | Fidelity International | U.K. | $812,800 |
| 38 | Royal Bank of Canada | Canada | $812,007 |
| 39 | AllianceBernstein | U.S. | $778,570 |
| 40 | Nippon Life Insurance | Japan | $716,108 |
| 41 | Principal Financial | U.S. | $713,900 |
| 42 | New York Life Investments | U.S. | $710,455 |
| 43 | Brookfield Asset Mgmt | Canada | $688,138 |
| 44 | Postal Savings Bank of China | China | $682,298 |
| 45 | Dimensional Fund Advisors | U.S. | $679,480 |
| 46 | Charles Schwab Investment | U.S. | $674,664 |
| 47 | MetLife Investment Mgmt | U.S. | $669,000 |
| 48 | Federated Hermes | U.S. | $668,873 |
| 49 | Generali Group | Italy | $651,470 |
| 50 | abrdn | U.K. | $627,891 |
| 1 | BlackRock | U.S. | $8,676,680 |
| 2 | Vanguard Group | U.S. | $7,148,807 |
| 3 | Fidelity Investments | U.S. | $3,609,098 |
| 4 | State Street Global | U.S. | $3,467,467 |
| 5 | Allianz Group | Germany | $2,934,265 |
| 6 | J.P. Morgan Chase | U.S. | $2,716,000 |
| 7 | Capital Group | U.S. | $2,383,707 |
| 8 | BNY Mellon | U.S. | $2,210,574 |
| 9 | Goldman Sachs Group | U.S. | $2,145,000 |
| 10 | Amundi | France | $2,126,391 |
| 11 | Legal & General Group | U.K. | $1,736,402 |
| 12 | Prudential Financial | U.S. | $1,720,958 |
| 13 | UBS | Switzerland | $1,641,000 |
| 14 | Franklin Templeton | U.S. | $1,497,955 |
| 15 | Morgan Stanley | U.S. | $1,474,627 |
| 16 | T. Rowe Price | U.S. | $1,470,500 |
| 17 | Wells Fargo | U.S. | $1,455,000 |
| 18 | BNP Paribas | France | $1,430,900 |
| 19 | Northern Trust | U.S. | $1,405,300 |
| 20 | Natixis Investment Managers | France | $1,389,663 |
| 21 | Invesco | U.S. | $1,349,925 |
| 22 | Wellington Mgmt. | U.S. | $1,291,419 |
| 23 | AXA Group | France | $1,267,651 |
| 24 | Nuveen | U.S. | $1,155,591 |
| 25 | Aegon Group | Netherlands | $1,126,920 |
| 26 | HSBC Holdings | U.K. | $1,118,000 |
| 27 | Sumitomo Mitsui Trust Holdings | Japan | $1,059,802 |
| 28 | Sun Life Financial | Canada | $975,154 |
| 29 | Deutsche Bank | Germany | $969,423 |
| 30 | Power Financial | Canada | $893,364 |
| 31 | Manulife | Canada | $887,691 |
| 32 | Ameriprise Financial | U.S. | $886,000 |
| 33 | Mitsubishi UFJ Financial Group | Japan | $852,892 |
| 34 | Principal Financial | U.S. | $806,600 |
| 35 | Schroders | U.K. | $785,146 |
| 36 | Nippon Life Insurance | Japan | $739,067 |
| 37 | Geode Capital Mgmt. | U.S. | $719,441 |
| 38 | Affiliated Managers Group | U.S. | $716,200 |
| 39 | Generali Group | Italy | $706,975 |
| 40 | Fidelity International | U.K. | $706,300 |
| 41 | Royal Bank of Canada | Canada | $693,286 |
| 42 | AllianceBernstein | U.S. | $685,924 |
| 43 | New York Life Investments | U.S. | $662,616 |
| 44 | MetLife Investment | U.S. | $659,600 |
| 45 | Standard Life Aberdeen | U.K. | $624,470 |
| 46 | Federated Hermes | U.S. | $619,430 |
| 47 | Blackstone Group | U.S. | $618,557 |
| 48 | MassMutual | U.S. | $616,000 |
| 49 | Brookfield Asset Mgmt. | Canada | $602,000 |
| 50 | Dimensional Fund Advisors | U.S. | $600,760 |
AUM 51-100
| 51.Ping An Bank China | 568,598 |
| 52.KKR U.S. | 552,801 |
| 53.Nomura Asset Mgmt. Japan | 529,430 |
| 54.Allspring Global Investments U.S. | 516,909 |
| 55.Union Investment Germany | 502,324 |
| 56.MassMutual U.S. | 500,000 |
| 57.Intesa Sanpaolo Italy | 490,050 |
| 58.abrdn U.K. | 467,479 |
| 59.Credit Suisse Switzerland | 463,665 |
| 60.Neuberger Berman U.S. | 463,418 |
| 61.Voya Financial U.S. | 462,079 |
| 62.Dai-ichi Life Holdings Japan | 461,161 |
| 63.Asset Management One Japan | 460,312 |
| 64.U.S. Bancorp U.S. | 454,000 |
| 65.LBBW Germany | 423,921 |
| 66.E Fund Mgmt. China | 423,150 |
| 67.Mercer U.S. | 419,605 |
| 68.Ares Mgmt. U.S. | 418,847 |
| 69.Nordea Finland | 417,728 |
| 70.M&G Investments U.K. | 399,706 |
| 71.Zenkyoren 3 Japan | 392,623 |
| 72.MEAG Germany | 375,238 |
| 73.Agricultural Bank of China China | 373,783 |
| 74.Dodge & Cox U.S. | 362,993 |
| 75.SEI Investments U.S. | 342,678 |
| 76.TD Global Invest. Solutions 2 Canada | 338,507 |
| 77.Janus Henderson Group U.K. | 334,953 |
| 78.Banco do Brasil 4 Brazil | 334,141 |
| 79.Shinkin Central Bank 3 Japan | 317,157 |
| 80.Jackson Financial U.S. | 315,838 |
| 81.Meiji Yasuda Life Insurance 3 Japan | 309,633 |
| 82.Societe Generale France | 307,916 |
| 83.Swiss Life Asset Managers Switzerland | 303,821 |
| 84.Russell Investments U.S. | 297,581 |
| 85.Zurcher Kantonalbank Switzerland | 292,552 |
| 86.Aviva U.K. | 289,594 |
| 87.Baillie Gifford U.K. | 287,781 |
| 88.NISA Investment U.S. | 287,722 |
| 89.Prudential U.K. | 279,400 |
| 90.Pictet Asset Mgmt. Switzerland | 273,490 |
| 91.China Asset Mgmt. China | 266,926 |
| 92.Dekabank Group Germany | 259,747 |
| 93.Zurich Financial Services Switzerland | 259,476 |
| 94.Sumitomo Life Insurance Japan | 257,833 |
| 95.BMO Wealth Mgmt. 2 Canada | 251,155 |
| 96.Lazard U.S. | 246,651 |
| 97.ICBC Credit Suisse Asset Mgmt. China | 242,606 |
| 98.Samsung Group 5 South Korea | 240,835 |
| 99.Banco Santander Spain | 239,490 |
| 100.Scotiabank 2 Canada | 238,827 |
| 51 | Ping An Bank | China | $517,931 |
| 52 | KKR | U.S. | $503,897 |
| 53 | Credit Suisse | Switzerland | $477,259 |
| 54 | Nomura Asset Mgmt. | Japan | $468,829 |
| 55 | MassMutual | U.S. | $466,000 |
| 56 | Allspring Global Investments | U.S. | $464,898 |
| 57 | Asset Management One | Japan | $459,526 |
| 58 | abrdn | U.K. | $452,400 |
| 59 | Union Investment | Germany | $440,996 |
| 60 | Voya Financial | U.S. | $438,964 |
| 61 | Neuberger Berman | U.S. | $427,269 |
| 62 | Zenkyoren | Japan | $424,700 |
| 63 | Intesa Sanpaolo | Italy | $414,514 |
| 64 | LBBW | Germany | $404,763 |
| 65 | E Fund Mgmt. | China | $397,881 |
| 66 | U.S. Bancorp | U.S. | $390,000 |
| 67 | Nordea | Denmark | $383,122 |
| 68 | Ares Mgmt. | U.S. | $351,997 |
| 69 | Mercer | U.S. | $344,915 |
| 70 | Meiji Yasuda Life Insurance | Japan | $329,510 |
| 71 | MEAG | Germany | $327,956 |
| 72 | TD Asset Mgmt. | Canada | $326,073 |
| 73 | Shinkin Central Bank | Japan | $323,492 |
| 74 | Dodge & Cox | U.S. | $322,933 |
| 75 | Agricultural Bank of China | China | $317,636 |
| 76 | SEI Investments | U.S. | $315,612 |
| 77 | Jackson Financial | U.S. | $290,549 |
| 78 | Janus Henderson Group | U.K. | $287,290 |
| 79 | Russell Investments | U.S. | $276,485 |
| 80 | Banco do Brasil | Brazil | $274,013 |
| 81 | Societe Generale | France | $273,277 |
| 82 | Swiss Life Asset Managers | Switzerland | $270,767 |
| 83 | Dekabank Group | Germany | $270,554 |
| 84 | Baillie Gifford | U.K. | $268,705 |
| 85 | Harvest Fund Mgmt. | China | $268,275 |
| 86 | Aviva | U.K. | $267,766 |
| 87 | China Southern Asset Mgmt. | China | $264,000 |
| 88 | Prudential | U.K. | $259,800 |
| 89 | NISA Investment | U.S. | $259,207 |
| 90 | China Asset Mgmt. | China | $256,824 |
| 91 | Sumitomo Life Insurance | Japan | $256,597 |
| 92 | ICBC Credit Suisse Asset Mgmt. | China | $248,334 |
| 93 | Resona Holdings | Japan | $241,356 |
| 94 | Pictet Asset Mgmt. | Switzerland | $236,705 |
| 95 | GF Securities | China | $235,116 |
| 96 | Samsung Group | South Korea | $234,958 |
| 97 | Zurich Financial Services | Switzerland | $231,976 |
| 98 | Scotiabank | Canada | $229,660 |
| 99 | Zurcher Kantonalbank | Switzerland | $225,839 |
| 100 | BMO Wealth Mgmt. | Canada | $225,498 |
| 51 | Credit Suisse | Switzerland | $575,321 |
| 52 | Dai-ichi Life Holdings1 | Japan | $574,417 |
| 53 | Allspring Global Investments | U.S. | $574,319 |
| 54 | Nomura Asset Mgmt | Japan | $568,219 |
| 55 | Macquarie Group | Australia | $545,700 |
| 56 | LBBW | Germany | $520,196 |
| 57 | Asset Management One | Japan | $512,172 |
| 58 | Intesa Sanpaolo | Italy | $507,471 |
| 59 | Ping An Bank | China | $499,355 |
| 60 | Kohlberg Kravis Roberts | U.S. | $470,555 |
| 61 | Nordea | Denmark | $465,756 |
| 62 | Union Investment | Germany | $461,394 |
| 63 | Neuberger Berman | U.S. | $460,476 |
| 64 | MassMutual | U.S. | $460,000 |
| 65 | Baillie Gifford | U.K. | $440,864 |
| 66 | Janus Henderson Group | U.K. | $432,345 |
| 67 | E Fund Mgmt | China | $425,644 |
| 68 | U.S. Bancorp | U.S. | $420,000 |
| 69 | Mercer | U.S. | $415,327 |
| 70 | BMO Wealth Mgmt | Canada | $409,412 |
| 71 | Voya Financial | U.S. | $405,285 |
| 72 | MEAG | Germany | $390,053 |
| 73 | TD Asset Mgmt | Canada | $375,089 |
| 74 | Dodge & Cox | U.S. | $371,287 |
| 75 | Shinkin Central Bank | Japan | $370,698 |
| 76 | Meiji Yasuda Life Insurance | Japan | $364,816 |
| 77 | Aviva | U.K. | $361,216 |
| 78 | Jackson Financial | U.S. | $359,454 |
| 79 | Societe Generale | France | $348,779 |
| 80 | NN Investment Partners | Netherlands | $340,852 |
| 81 | Russell Investments | U.S. | $340,773 |
| 82 | NISA Investment | U.S. | $333,607 |
| 83 | Dekabank Group | Germany | $313,715 |
| 84 | Sumitomo Life Insurance | Japan | $311,240 |
| 85 | SEI Investments | U.S. | $306,164 |
| 86 | Ares Mgmt | U.S. | $305,774 |
| 87 | Swiss Life Asset Managers | Switzerland | $301,863 |
| 88 | Prudential | U.K. | $299,400 |
| 89 | SEB | Sweden | $296,388 |
| 90 | Zurich Financial Services | Switzerland | $295,007 |
| 91 | Agricultural Bank of China | China | $289,716 |
| 92 | Harvest Fund Mgmt | China | $289,198 |
| 93 | Pictet Asset Mgmt | Switzerland | $284,138 |
| 94 | Lazard | U.S. | $273,739 |
| 95 | Guggenheim Investments | U.S. | $271,680 |
| 96 | China Asset Mgmt | China | $271,102 |
| 97 | China Southern Asset Mgmt | China | $271,000 |
| 98 | Scotiabank | Canada | $270,528 |
| 99 | ICBC Credit Suisse Asset Mgmt | China | $269,868 |
| 100 | TCW Group | U.S. | $264,472 |
| 51 | Charles Schwab Investment | U.S. | $586,729 |
| 52 | Eaton Vance | U.S. | $583,100 |
| 53 | Nomura Asset Mgmt. | Japan | $568,128 |
| 54 | Prudential | U.K. | $558,300 |
| 55 | Dai-ichi Life Holdings | Japan | $551,429 |
| 56 | Landesbank Baden-Württemberg | Germany | $550,479 |
| 57 | Credit Suisse | Switzerland | $546,983 |
| 58 | Asset Management One | Japan | $526,064 |
| 59 | Intesa Sanpaolo | Italy | $515,491 |
| 60 | Aviva | U.K. | $499,992 |
| 61 | Union Investment | Germany | $474,101 |
| 62 | Nordea | Denmark | $434,551 |
| 63 | Baillie Gifford | U.K. | $430,926 |
| 64 | Macquarie Group | Australia | $424,057 |
| 65 | MEAG | Germany | $413,520 |
| 66 | Neuberger Berman | U.S. | $405,440 |
| 67 | Janus Henderson Group | U.K. | $401,600 |
| 68 | Shinkin Central Bank1 | Japan | $380,492 |
| 69 | BMO Wealth Mgmt.2 | Canada | $377,492 |
| 70 | Meiji Yasuda Life Insurance1 | Japan | $374,949 |
| 71 | NN Investment Partners | Netherlands | $368,472 |
| 72 | Voya Financial | U.S. | $364,610 |
| 73 | Mercer | U.S. | $356,923 |
| 74 | Sumitomo Life Insurance | Japan | $330,280 |
| 75 | Dodge & Cox | U.S. | $325,309 |
| 76 | Russell Investments | U.S. | $323,655 |
| 77 | E Fund Mgmt. | China | $320,046 |
| 78 | TD Asset Mgmt.2 | Canada | $319,056 |
| 79 | Societe Generale | France | $314,429 |
| 80 | Swiss Life Asset Managers | Switzerland | $305,427 |
| 81 | Zurich Financial Services | Switzerland | $303,433 |
| 82 | Dekabank Group | Germany | $301,920 |
| 83 | SEI Investments | U.S. | $274,968 |
| 84 | Agricultural Bank of China | China | $259,844 |
| 85 | Lazard | U.S. | $258,642 |
| 86 | SEB | Sweden | $257,100 |
| 87 | Samsung Group | South Korea | $254,912 |
| 88 | NISA Investment | U.S. | $252,989 |
| 89 | Pictet Asset Mgmt. | Switzerland | $252,154 |
| 90 | Kohlberg Kravis Roberts | U.S. | $251,679 |
| 91 | Achmea | Netherlands | $249,333 |
| 92 | TCW Group | U.S. | $247,616 |
| 93 | Guggenheim Investments | U.S. | $246,363 |
| 94 | China Asset Mgmt. | China | $243,973 |
| 95 | Anima Holding | Italy | $238,647 |
| 96 | Bosera Asset Mgmt.3 | China | $237,200 |
| 97 | Banco do Brasil4 | Brazil | $233,770 |
| 98 | Harvest Fund Mgmt. | China | $230,453 |
| 99 | Scotiabank2 | Canada | $228,192 |
| 100 | Lord, Abbett | U.S. | $223,704 |
AUM 101-150
| 101 | Bosera Asset Mgmt. | China | $218,606 |
| 102 | Guggenheim Investments | U.S. | $217,928 |
| 103 | Lazard | U.S. | $216,125 |
| 104 | China Merchants Fund | China | $213,682 |
| 105 | TCW Group | U.S. | $205,174 |
| 106 | CCB Principal Asset Mgmt. | China | $205,020 |
| 107 | CITIC Securities | China | $204,701 |
| 108 | SEB | Sweden | $203,298 |
| 109 | American Century | U.S. | $201,805 |
| 110 | Banco Santander | Spain | $200,688 |
| 111 | Mirae Asset Financial Group 7 | South Korea | $198,000 |
| 112 | Conning | U.S. | $190,954 |
| 113 | Anima Holding | Italy | $189,019 |
| 114 | Raymond James | U.S. | $186,000 |
| 115 | Robeco Group | Netherlands | $182,623 |
| 116 | Mesirow | U.S. | $180,781 |
| 117 | St. James’s Place | U.K. | $178,944 |
| 118 | Royal London Group | U.K. | $177,497 |
| 119 | Achmea | Netherlands | $177,203 |
| 120 | Robert W. Baird | U.S. | $177,104 |
| 121 | Fisher Investments | U.S. | $173,042 |
| 122 | PNC Financial | U.S. | $172,502 |
| 123 | Landesbank Hessen-Thuringen | Germany | $169,731 |
| 124 | OFI AM | France | $168,770 |
| 125 | Itau Unibanco 5 | Brazil | $166,608 |
| 126 | Swedbank | Sweden | $165,282 |
| 127 | Wilmington Trust | U.S. | $165,219 |
| 128 | Caixabank | Spain | $163,344 |
| 129 | WTW | Ireland | $163,007 |
| 130 | China Universal Asset Mgmt. | China | $161,000 |
| 131 | Penghua Fund Mgmt. | China | $160,810 |
| 132 | Ninety One | South Africa | $159,294 |
| 133 | EFG International | Switzerland | $154,974 |
| 134 | Danske Bank | Denmark | $153,680 |
| 135 | Victory Capital | U.S. | $152,952 |
| 136 | Union Bancaire Privee | Switzerland | $152,012 |
| 137 | Virtus Investment Partners | U.S. | $149,376 |
| 138 | CBRE Investment Mgmt. | U.S. | $149,300 |
| 139 | Man Group | U.K. | $143,300 |
| 140 | IFM Investors | Australia | $143,169 |
| 141 | Pacific Century Group | Hong Kong | $143,100 |
| 142 | Mn Services | Netherlands | $143,044 |
| 143 | CVC Capital Partners | Luxembourg | $141,976 |
| 144 | CIBC Asset Mgmt. | Canada | $140,907 |
| 145 | Arrowstreet Capital | U.S. | $138,246 |
| 146 | Talanx Group | Germany | $137,278 |
| 147 | Credit Mutuel | France | $136,212 |
| 148 | Partners Group | Switzerland | $135,400 |
| 149 | Vontobel Asset Mgmt. | Switzerland | $134,906 |
| 150 | StepStone Group | U.S. | $134,001 |
| Rank | Manager | Market | Total assets |
| 101 | Banco do Brasil | Brazil | $261,859 |
| 102 | CITIC Securities | China | $255,078 |
| 103 | Samsung Group | South Korea | $252,099 |
| 104 | Achmea | Netherlands | $249,128 |
| 105 | Bosera Asset Mgmt | China | $248,373 |
| 106 | American Century | U.S. | $246,845 |
| 107 | GF Securities | China | $242,762 |
| 108 | Mirae Asset Financial Group | South Korea | $235,200 |
| 109 | Anima Holding | Italy | $231,000 |
| 110 | Robeco Group | Netherlands | $228,267 |
| 111 | Zurcher Kantonalbank | Switzerland | $222,796 |
| 112 | Swedbank | Sweden | $222,788 |
| 113 | Royal London Group | U.K. | $221,226 |
| 114 | Banco Santander | Spain | $219,686 |
| 115 | Conning | U.S. | $214,887 |
| 116 | CCB Principal Asset Mgmt | China | $213,384 |
| 117 | China Merchants Fund | China | $211,815 |
| 118 | Resona Holdings | Japan | $208,560 |
| 119 | Fisher Investments | U.S. | $208,359 |
| 120 | St. James’s Place | U.K. | $207,737 |
| 121 | Landesbank Hessen-Thuringen | Germany | $207,342 |
| 122 | Robert W. Baird | U.S. | $204,714 |
| 123 | Raymond James | U.S. | $203,200 |
| 124 | Mn Services | Netherlands | $201,454 |
| 125 | Danske Bank | Denmark | $196,880 |
| 126 | China Universal Asset Mgmt | China | $193,000 |
| 127 | PNC Financial | U.S. | $191,961 |
| 128 | Ninety One | South Africa | $191,959 |
| 129 | EFG International | Switzerland | $187,869 |
| 130 | Virtus Investment Partners | U.S. | $187,186 |
| 131 | Caixabank | Spain | $186,848 |
| 132 | WTW | Ireland | $186,776 |
| 133 | Victory Capital | U.S. | $183,654 |
| 134 | Union Bancaire Privee | Switzerland | $175,240 |
| 135 | Artisan Partners | U.S. | $174,754 |
| 136 | Mesirow | U.S. | $174,528 |
| 137 | Vontobel Asset Mgmt | Switzerland | $174,148 |
| 138 | CIBC Asset Mgmt | Canada | $167,604 |
| 139 | Wilmington Trust | U.S. | $165,600 |
| 140 | Penghua Fund Mgmt | China | $161,411 |
| 141 | Arrowstreet Capital | U.S. | $157,410 |
| 142 | Talanx Group | Germany | $154,089 |
| 143 | PRIMECAP | U.S. | $153,658 |
| 144 | Payden & Rygel | U.S. | $151,600 |
| 145 | Aon | U.K. | $149,588 |
| 146 | Itau Unibanco | Brazil | $148,654 |
| 147 | Fiera Capital | Canada | $147,328 |
| 148 | Pacific Century Group | Hong Kong | $146,000 |
| 149 | Man Group | U.K. | $144,100 |
| 150 | CBRE Investment Mgmt | U.S. | $141,900 |
| 101 | Banco Santander | Spain | $222,311 |
| 102 | China Southern Asset Mgmt.4 | China | $218,400 |
| 103 | CITIC Securities5 | China | $218,143 |
| 104 | Zurcher Kantonalbank | Switzerland | $216,942 |
| 105 | ICBC Credit Suisse Asset Mgmt. | China | $216,026 |
| 106 | Robeco Group | Netherlands | $215,426 |
| 107 | American Century | U.S. | $212,712 |
| 108 | Resona Holdings1 | Japan | $211,024 |
| 109 | CCB Principal Asset Mgmt. | China | $208,366 |
| 110 | Mn Services | Netherlands | $207,695 |
| 111 | Swedbank | Sweden | $204,850 |
| 112 | Royal London Group | U.K. | $200,943 |
| 113 | Conning | U.S. | $197,738 |
| 114 | Ares Mgmt. | U.S. | $196,980 |
| 115 | Aon | U.K. | $183,700 |
| 116 | EFG International | Switzerland | $179,799 |
| 117 | Ninety One | South Africa | $177,679 |
| 118 | China Merchants Fund | China | $177,237 |
| 119 | St. James’s Place | U.K. | $175,553 |
| 120 | Robert W. Baird | U.S. | $173,571 |
| 121 | PNC Financial | U.S. | $169,833 |
| 122 | Raymond James | U.S. | $169,600 |
| 123 | Union Bancaire Privee | Switzerland | $166,926 |
| 124 | Vontobel Asset Mgmt. | Switzerland | $166,360 |
| 125 | Willis Towers Watson | Ireland | $165,887 |
| 126 | Landesbank Hessen-Thuringen | Germany | $165,198 |
| 127 | Danske Bank | Denmark | $164,740 |
| 128 | Fisher Investments | U.S. | $162,785 |
| 129 | Talanx Group | Germany | $157,855 |
| 130 | Artisan Partners | U.S. | $157,776 |
| 131 | BrightSphere | U.S. | $156,700 |
| 132 | China Universal Asset Mgmt.6 | China | $153,516 |
| 133 | IFM Investors | Australia | $151,338 |
| 134 | Itau Unibanco4 | Brazil | $150,377 |
| 135 | CIBC Asset Mgmt. | Canada | $148,923 |
| 136 | Mesirow | U.S. | $147,858 |
| 137 | Victory Capital | U.S. | $147,241 |
| 138 | AMP Capital | Australia | $145,395 |
| 139 | Sumitomo Mitsui DS Asset Mgmt. | Japan | $143,923 |
| 140 | PRIMECAP | U.S. | $142,895 |
| 141 | Fiera Capital | Canada | $140,967 |
| 142 | AQR Capital Mgmt. | U.S. | $140,320 |
| 143 | GAM Holding | Switzerland | $138,161 |
| 144 | Yinhua Fund Mgmt. | China | $137,889 |
| 145 | Caixabank | Spain | $137,266 |
| 146 | Bayerischen Landesbank7 | Germany | $136,923 |
| 147 | Resolute Investment | U.S. | $135,900 |
| 148 | Wilmington Trust | U.S. | $135,801 |
| 149 | Payden & Rygel | U.S. | $135,000 |
| 150 | BBVA | Spain | $134,341 |
AUM 151-200
| 151 | BBVA | Spain | $133,010 |
| 152 | Payden & Rygel | U.S. | $133,000 |
| 153 | Rothschild | France | $132,903 |
| 154 | Yinhua Fund Mgmt. | China | $129,942 |
| 155 | Artisan Partners | U.S. | $127,892 |
| 156 | Starwood Capital | U.S. | $125,324 |
| 157 | Brown Advisory Group | U.S. | $122,000 |
| 158 | Dierickx Leys | Belgium | $120,093 |
| 159 | Aon | U.K. | $119,057 |
| 160 | Sumitomo Mitsui Financial Group | Japan | $119,014 |
| 161 | BCV | Switzerland | $117,884 |
| 162 | PRIMECAP | U.S. | $117,232 |
| 163 | Bayerischen Landesbank | Germany | $117,008 |
| 164 | Fiera Capital | Canada | $117,008 |
| 165 | F Van Lanschot | Netherlands | $115,075 |
| 166 | Caixa Economica Federal 5 | Brazil | $114,016 |
| 167 | Banco Bradesco | Brazil | $110,960 |
| 168 | Hamilton Lane | U.S. | $107,530 |
| 169 | IDUNA Gruppe | Germany | $107,519 |
| 170 | Swiss Re | Switzerland | $105,700 |
| 171 | OP Financial Group | Finland | $104,855 |
| 172 | Pendal Group 4 | Australia | $104,500 |
| 173 | KB Asset Mgmt. 7 | South Korea | $104,421 |
| 174 | Hightower Advisors | U.S. | $104,306 |
| 175 | Storebrand Group | Norway | $103,376 |
| 176 | Groupama Asset Mgmt. | France | $99,810 |
| 177 | MLC Asset Mgmt. | Australia | $98,465 |
| 178 | Poste Italiane | Italy | $98,077 |
| 179 | Colliers International Group | Canada | $98,000 |
| 180 | Zhong Ou Asset Mgmt. | China | $97,000 |
| 181 | Hines | U.S. | $95,789 |
| 182 | AQR Capital Mgmt. | U.S. | $94,834 |
| 183 | BrightSphere | U.S. | $93,600 |
| 184 | Prologis | U.S. | $91,628 |
| 185 | LSV Asset Mgmt. | U.S. | $91,100 |
| 186 | Sompo Holdings | Japan | $89,379 |
| 187 | Income Research & Mgmt. | U.S. | $88,998 |
| 188 | Shinhan BNPParibas 7 | South Korea | $88,433 |
| 189 | RhumbLine Advisers | U.S. | $88,016 |
| 190 | Svenska Handelsbanken | Sweden | $87,620 |
| 191 | Pathway Capital | U.S. | $87,223 |
| 192 | CI Financial | Canada | $86,962 |
| 193 | State Bank of India | India | $86,707 |
| 194 | LGT Capital Partners | Liechtenstein | $86,366 |
| 195 | Covea Group 7 | France | $86,339 |
| 196 | Record Currency Mgmt. | U.K. | $86,011 |
| 197 | Fullgoal Fund Mgmt. | China | $84,500 |
| 198 | AMP Capital | Australia | $84,340 |
| 199 | Hanwha Group 7 | South Korea | $83,731 |
| 200 | National Bank of Canada 1 | Canada | $82,936 |
| 151 | Yinhua Fund Mgmt | China | $141,210 |
| 152 | Fullgoal Fund Mgmt | China | $139,594 |
| 153 | Rothschild | France | $138,379 |
| 154 | Bayerischen Landesbank | Germany | $136,073 |
| 155 | BBVA | Spain | $135,103 |
| 156 | Groupama Asset Mgmt | France | $132,717 |
| 157 | IFM Investors | Australia | $130,574 |
| 158 | Sumitomo Mitsui Financial Group5 | Japan | $129,000 |
| 159 | AMP Capital | Australia | $128,990 |
| 160 | MLC Asset Mgmt | Australia | $127,704 |
| 161 | Partners Group | Switzerland | $127,400 |
| 162 | StepStone Group | U.S. | $127,008 |
| 163 | OP Financial Group | Finland | $126,643 |
| 164 | Storebrand Group | Norway | $124,448 |
| 165 | Poste Italiane | Italy | $123,774 |
| 166 | AQR Capital Mgmt | U.S. | $123,459 |
| 167 | BCV | Switzerland | $123,331 |
| 168 | Swiss Re | Switzerland | $121,200 |
| 169 | CI Financial | Canada | $119,028 |
| 170 | Svenska Handelsbanken | Sweden | $118,798 |
| 171 | BrightSphere | U.S. | $117,200 |
| 172 | Covea Group | France | $116,524 |
| 173 | IDUNA Gruppe | Germany | $116,524 |
| 174 | Starwood Capital | U.S. | $113,892 |
| 175 | Banco Bradesco | Brazil | $110,683 |
| 176 | GAM Holding | Switzerland | $109,143 |
| 177 | LSV Asset Mgmt | U.S. | $108,805 |
| 178 | F Van Lanschot | Netherlands | $108,484 |
| 179 | Cohen & Steers | U.S. | $106,629 |
| 180 | KB Asset Mgmt | South Korea | $106,536 |
| 181 | Securian Financial | U.S. | $106,100 |
| 182 | Caixa Economica Federal4 | Brazil | $105,580 |
| 183 | Sompo Holdings | Japan | $102,141 |
| 184 | Pendal Group | Australia | $101,002 |
| 185 | Hamilton Lane | U.S. | $98,088 |
| 186 | RhumbLine Advisers | U.S. | $96,224 |
| 187 | Income Research & Mgmt | U.S. | $95,995 |
| 188 | Prologis | U.S. | $95,411 |
| 189 | Haitong Securities | China | $94,977 |
| 190 | Pathway Capital | U.S. | $92,424 |
| 191 | National Bank of Canada | Canada | $91,687 |
| 192 | Hanwha Group | South Korea | $91,359 |
| 193 | Metzler Asset Mgmt | Germany | $90,592 |
| 194 | Hines | U.S. | $90,348 |
| 195 | LGT Capital Partners | Liechtenstein | $89,707 |
| 196 | Northill Capital | U.K. | $88,900 |
| 197 | Resolute Investment5 | U.S. | $88,100 |
| 198 | Ashmore Group | U.K. | $87,300 |
| 199 | Industrial Alliance Insurance | Canada | $87,220 |
| 200 | ASR | Netherlands | $85,687 |
| 151 | Arrowstreet Capital | U.S. | $133,621 |
| 152 | Groupama Asset Mgmt. | France | $133,387 |
| 153 | Penghua Fund Mgmt.4 | China | $132,633 |
| 154 | Virtus Investment Partners | U.S. | $132,194 |
| 155 | Pacific Century Group | Hong Kong | $126,300 |
| 156 | Covea Group | France | $123,070 |
| 157 | CBRE Global Investors | U.S. | $122,700 |
| 158 | Mirae Asset Financial Group | South Korea | $121,484 |
| 159 | NAB Asset Mgmt.6 | Australia | $120,744 |
| 160 | PFM Asset Mgmt. | U.S. | $120,619 |
| 161 | Man Group | U.K. | $117,700 |
| 162 | BCV | Switzerland | $116,824 |
| 163 | Rothschild | France | $115,209 |
| 164 | IDUNA Gruppe | Germany | $113,981 |
| 165 | Storebrand Group | Norway | $112,311 |
| 166 | OP Financial Group | Finland | $109,468 |
| 167 | Brown Advisory | U.S. | $109,375 |
| 168 | Partners Group | Switzerland | $109,000 |
| 169 | Sompo Holdings | Japan | $107,310 |
| 170 | F Van Lanschot | Netherlands | $106,243 |
| 171 | CI Financial | Canada | $105,648 |
| 172 | LSV Asset Mgmt. | U.S. | $104,316 |
| 173 | Banco Bradesco4 | Brazil | $103,543 |
| 174 | Svenska Handelsbanken | Sweden | $103,280 |
| 175 | Swiss Re | Switzerland | $100,000 |
| 176 | Haitong Securities | China | $98,601 |
| 177 | Securian Financial | U.S. | $97,800 |
| 178 | Caixa Economica Federal4 | Brazil | $96,799 |
| 179 | Hanwha Group | South Korea | $96,271 |
| 180 | Northill Capital | U.K. | $95,100 |
| 181 | Ashmore Group | U.K. | $93,000 |
| 182 | ASR | Netherlands | $91,648 |
| 183 | Fullgoal Fund Mgmt. | China | $90,087 |
| 184 | Metzler Asset Mgmt. | Germany | $89,662 |
| 185 | New England Asset Mgmt. | U.S. | $88,553 |
| 186 | Income Research & Mgmt. | U.S. | $88,336 |
| 187 | Erste-Sparinvest Kapitalanlage8 | Austria | $86,652 |
| 188 | Credit Mutuel | France | $86,100 |
| 189 | Guardian Life | U.S. | $85,500 |
| 190 | KB Asset Mgmt. | South Korea | $85,264 |
| 191 | RhumbLine Advisers | U.S. | $84,053 |
| 192 | OFI AM | France | $82,292 |
| 193 | Hines | U.S. | $81,670 |
| 194 | StepStone Group | U.S. | $80,490 |
| 195 | Cohen & Steers | U.S. | $79,908 |
| 196 | Industrial Alliance Insurance | Canada | $79,523 |
| 197 | GF Securities | China | $79,022 |
| 198 | Jupiter Asset Mgmt. | U.K. | $78,571 |
| 199 | Magellan Asset Mgmt. | Australia | $77,669 |
| 200 | Bank of China Investment Mgmt. | China | $76,835 |
AUM 201-250
| 201 | GAM Holding | Switzerland | $81,203 |
| 202 | Cohen & Steers | U.S. | $80,425 |
| 203 | Securian Financial | U.S. | $78,500 |
| 204 | LaSalle Investment | U.S. | $78,451 |
| 205 | Connor, Clark & Lunn Financial | Canada | $76,446 |
| 206 | Industrial Alliance Insurance | Canada | $75,820 |
| 207 | Haitong Securities | China | $75,814 |
| 208 | Intermediate Capital Group | U.K. | $75,000 |
| 209 | Tokio Marine Holdings | Japan | $74,800 |
| 210 | Flossbach Von Storch | Germany | $74,724 |
| 211 | Resolute Investment | U.S. | $74,100 |
| 212 | Erste-Sparinvest Kapitalanlage | Austria | $74,030 |
| 213 | GCM Grosvenor | U.S. | $73,667 |
| 214 | Metzler Asset Mgmt. | Germany | $73,657 |
| 215 | New England Asset Mgmt. | U.S. | $72,907 |
| 216 | Alan Biller and Associates | U.S. | $72,630 |
| 217 | Old Mutual Investment Group | South Africa | $72,308 |
| 218 | Edmond de Rothschild Group | Switzerland | $71,719 |
| 219 | Fort Washington | U.S. | $71,609 |
| 220 | Bank of China Investment Mgmt. | China | $70,169 |
| 221 | ASR | Netherlands | $69,387 |
| 222 | Everbright Securities | China | $68,107 |
| 223 | Lombard Odier Investment | Switzerland | $67,746 |
| 224 | Challenger | Australia | $67,500 |
| 225 | QIC 2 | Australia | $67,024 |
| 226 | BTG Pactual | Brazil | $66,981 |
| 227 | Versicherungskammer Bayern | Germany | $66,220 |
| 228 | KLP Group | Norway | $64,965 |
| 229 | Bank Degroof Petercam | Belgium | $63,622 |
| 230 | Banco BPM | Italy | $63,409 |
| 231 | Sterling Capital | U.S. | $62,842 |
| 232 | Guotai Junan | China | $62,569 |
| 233 | Sanlam | South Africa | $62,561 |
| 234 | Monte dei Paschi di Siena | Italy | $61,630 |
| 235 | Mawer Investment Mgmt. | Canada | $61,000 |
| 236 | Quintet Private Bank | Luxembourg | $60,847 |
| 237 | Jupiter Asset Mgmt. | U.K. | $60,532 |
| 238 | Baloise Asset Mgmt. | Switzerland | $60,415 |
| 239 | Mediolanum | Italy | $60,205 |
| 240 | Charter Hall | Australia | $59,758 |
| 241 | Gruppo Azimut | Italy | $58,819 |
| 242 | La Poste 2 | France | $58,712 |
| 243 | ICICI Prudential Mutual Fund | India | $58,612 |
| 244 | Perpetual | Australia | $58,535 |
| 245 | Nykredit Asset Mgmt. | Denmark | $58,279 |
| 246 | Pinnacle Investment | Australia | $57,761 |
| 247 | Oddo | France | $57,644 |
| 248 | Grantham, Mayo v. Otterloo | U.S. | $57,627 |
| 249 | Ashmore Group | U.K. | $57,200 |
| 250 | Desjardins Group | Canada | $56,229 |
| 201 | State Bank of India | India | $85,535 |
| 202 | Record Currency Mgmt | U.K. | $85,310 |
| 203 | New England Asset Mgmt | U.S. | $84,686 |
| 204 | Credit Mutuel | France | $84,137 |
| 205 | Connor, Clark & Lunn Financial | Canada | $83,839 |
| 206 | Polen Capital | U.S. | $83,553 |
| 207 | Erste-Sparinvest Kapitalanlage | Austria | $83,311 |
| 208 | Sanlam | South Africa | $82,771 |
| 209 | Jupiter Asset Mgmt | U.K. | $81,889 |
| 210 | Old Mutual Investment Group | South Africa | $79,817 |
| 211 | Challenger | Australia | $79,786 |
| 212 | William Blair | U.S. | $79,622 |
| 213 | OFI AM | France | $79,268 |
| 214 | Bank Degroof Petercam | Belgium | $79,042 |
| 215 | Bank of China Investment Mgmt | China | $78,340 |
| 216 | Fort Washington | U.S. | $78,334 |
| 217 | LaSalle Investment | U.S. | $77,762 |
| 218 | KLP Group | Norway | $75,908 |
| 219 | Everbright Securities | China | $75,874 |
| 220 | Lombard Odier Investment | Switzerland | $75,384 |
| 221 | Sterling Capital | U.S. | $75,308 |
| 222 | Quintet Private Bank | Luxembourg | $74,059 |
| 223 | Banco BPM | Italy | $73,946 |
| 224 | Monte dei Paschi di Siena | Italy | $73,929 |
| 225 | Oddo | France | $73,606 |
| 226 | GCM Grosvenor | U.S. | $72,130 |
| 227 | Baloise Asset Mgmt | Switzerland | $71,779 |
| 228 | Desjardins Group | Canada | $71,401 |
| 229 | Rabobank Group | Netherlands | $70,775 |
| 230 | Mediolanum | Italy | $70,413 |
| 231 | Mawer Investment Mgmt | Canada | $69,634 |
| 232 | Magellan Asset Mgmt | Australia | $69,288 |
| 233 | Grantham, Mayo v. Otterloo | U.S. | $69,027 |
| 234 | Perpetual | Australia | $68,976 |
| 235 | J. Safra Sarasin Group | Switzerland | $68,926 |
| 236 | Alan Biller and Associates | U.S. | $68,649 |
| 237 | Versicherungskammer Bayern | Germany | $68,529 |
| 238 | La Poste | France | $67,944 |
| 239 | Pinnacle Investment | Australia | $67,862 |
| 240 | Raiffeisen Zentralbank | Austria | $67,763 |
| 241 | Nykredit Asset Mgmt | Denmark | $67,677 |
| 242 | QIC | Australia | $67,045 |
| 243 | Aristotle | U.S. | $66,800 |
| 244 | BTG Pactual | Brazil | $66,470 |
| 245 | Mapfre | Spain | $65,673 |
| 246 | Tokio Marine Holdings | Japan | $65,400 |
| 247 | Zhong Ou Asset Mgmt | China | $64,690 |
| 248 | River and Mercantile | U.K. | $64,210 |
| 249 | Fukoku Mutual Life Insurance | Japan | $62,662 |
| 250 | La Francaise | France | $62,282 |
| 201 | Hamilton Lane | U.S. | $75,777 |
| 202 | Starwood Capital | U.S. | $75,662 |
| 203 | Old Mutual Investment Group | South Africa | $75,367 |
| 204 | Baloise Asset Mgmt. | Switzerland | $74,970 |
| 205 | Ivy Investments | U.S. | $74,822 |
| 206 | Prologis | U.S. | $74,704 |
| 207 | Bank Degroof Petercam | Belgium | $74,677 |
| 208 | Record Currency Mgmt. | U.K. | $74,645 |
| 209 | LGT Capital Partners | Liechtenstein | $74,201 |
| 210 | Monte dei Paschi di Siena | Italy | $74,186 |
| 211 | Universal-Investment | Germany | $73,572 |
| 212 | Banco BPM | Italy | $73,203 |
| 213 | BTG Pactual | Brazil | $72,497 |
| 214 | Pathway Capital | U.S. | $72,478 |
| 215 | Oddo | France | $71,729 |
| 216 | Versicherungskammer Bayern | Germany | $71,434 |
| 217 | ACTIAM | Netherlands | $71,361 |
| 218 | Lombard Odier Investment | Switzerland | $71,281 |
| 219 | Quintet Private Bank | Luxembourg | $70,869 |
| 220 | LaSalle Investment | U.S. | $70,865 |
| 221 | Pendal Group6 | Australia | $70,796 |
| 222 | Pinnacle Investment | Australia | $70,500 |
| 223 | Sterling Capital | U.S. | $70,078 |
| 224 | William Blair | U.S. | $69,691 |
| 225 | KLP Group | Norway | $69,577 |
| 226 | Sanlam | South Africa | $69,486 |
| 227 | Fort Washington | U.S. | $69,353 |
| 228 | Tokio Marine Holdings4 | Japan | $69,100 |
| 229 | National Bank of Canada2 | Canada | $68,516 |
| 230 | Connor, Clark & Lunn Financial | Canada | $67,881 |
| 231 | Mapfre | Spain | $67,777 |
| 232 | Fukoku Mutual Life Insurance | Japan | $67,121 |
| 233 | Mediolanum | Italy | $66,928 |
| 234 | State Bank of India | India | $65,768 |
| 235 | QIC | Australia | $65,371 |
| 236 | Challenger5 | Australia | $65,308 |
| 237 | La Francaise4 | France | $65,097 |
| 238 | Perpetual | Australia | $64,900 |
| 239 | Mawer Investment Mgmt. | Canada | $63,991 |
| 240 | La Poste | France | $63,623 |
| 241 | Shinhan BNPParibas | South Korea | $63,319 |
| 242 | D.E. Shaw Group | U.S. | $63,266 |
| 243 | Grantham, Mayo v. Otterloo | U.S. | $62,943 |
| 244 | GCM Grosvenor | U.S. | $61,943 |
| 245 | Desjardins Group | Canada | $60,606 |
| 246 | Rabobank Group | Netherlands | $60,061 |
| 247 | River and Mercantile5 | U.K. | $60,011 |
| 248 | Alan Biller and Associates | U.S. | $59,395 |
| 249 | Polen Capital | U.S. | $59,271 |
| 250 | Folksam | Sweden | $58,992 |
AUM 251-300
| 251 | Mapfre | Spain | $56,165 |
| 252 | William Blair | U.S. | $55,930 |
| 253 | Raiffeisen Zentralbank | Austria | $55,640 |
| 254 | J. Safra Sarasin Group | Switzerland | $55,552 |
| 255 | Patrizia Immobilien | Germany | $55,400 |
| 256 | Polen Capital | U.S. | $54,833 |
| 257 | Universal-Investment | Germany | $54,442 |
| 258 | HDFC Asset Mgmt. | India | $54,127 |
| 259 | Aristotle | U.S. | $54,120 |
| 260 | Goodman Group | Australia | $53,986 |
| 261 | Rabobank Group | Netherlands | $53,908 |
| 262 | Fukoku Mutual Life Insurance | Japan | $53,608 |
| 263 | Heitman | U.S. | $53,268 |
| 264 | Angelo, Gordon | U.S. | $53,000 |
| 265 | Adams Street Partners | U.S. | $52,536 |
| 266 | La Francaise | France | $52,307 |
| 267 | Liberty Holdings | South Africa | $51,367 |
| 268 | Pzena Investment | U.S. | $51,366 |
| 269 | Folksam | Sweden | $50,442 |
| 270 | PAG | Hong Kong | $50,000 |
| 271 | DNB | Norway | $49,966 |
| 272 | HuaAn Funds | China | $48,050 |
| 273 | GoldenTree Asset Mgmt. | U.S. | $47,933 |
| 274 | Fortis | Canada | $47,246 |
| 275 | Tianhong Asset Mgmt. | China | $46,347 |
| 276 | Shinsei Bank | Japan | $45,789 |
| 277 | Magellan Asset Mgmt. | Australia | $45,322 |
| 278 | Westpac Banking 4 | Australia | $44,548 |
| 279 | Beutel, Goodman | Canada | $43,600 |
| 280 | Mondrian Investment Partners | U.K. | $43,300 |
| 281 | Huatai-PineBridge Investment | China | $43,000 |
| 282 | Korea ITMC 7 | South Korea | $42,636 |
| 283 | Dexus | Australia | $42,306 |
| 284 | Breckinridge Capital | U.S. | $42,249 |
| 285 | Impax Asset Mgmt. 4 | U.K. | $41,756 |
| 286 | Mitsubishi Estate Group 4 | Japan | $41,690 |
| 287 | HUK Coburg | Germany | $41,506 |
| 288 | Tikehau Capital | France | $41,419 |
| 289 | Berenberg Group | Germany | $41,098 |
| 290 | Portfolio Advisors | U.S. | $40,830 |
| 291 | Silchester International | U.K. | $40,300 |
| 292 | Asahi Mutual Life Insurance | Japan | $39,653 |
| 293 | Kiwoom AMC 7 | South Korea | $39,491 |
| 294 | Marathon-London 8 | U.K. | $39,000 |
| 295 | Causeway Capital | U.S. | $38,701 |
| 296 | Thornburg Investment | U.S. | $38,696 |
| 297 | Commerce Trust | U.S. | $37,285 |
| 298 | Providence | U.S. | $37,184 |
| 299 | Wiener Städtische Versicherung | Austria | $36,721 |
| 300 | Guardian Capital | Canada | $36,606 |
| 251 | DNB | Norway | $61,739 |
| 252 | Universal-Investment | Germany | $61,489 |
| 253 | Folksam | Sweden | $61,408 |
| 254 | ICICI Prudential Mutual Fund | India | $61,314 |
| 255 | Guotai Junan | China | $60,285 |
| 256 | HuaAn Funds | China | $59,936 |
| 257 | Intermediate Capital Group | U.K. | $59,600 |
| 258 | HDFC Asset Mgmt | India | $59,218 |
| 259 | Shinhan BNP Paribas | South Korea | $57,063 |
| 260 | Mondrian Investment Partners | U.K. | $56,088 |
| 261 | Westpac Banking | Australia | $55,897 |
| 262 | Liberty Holdings | South Africa | $55,651 |
| 263 | Patrizia Immobilien | Germany | $55,035 |
| 264 | Lexington Partners | U.S. | $53,622 |
| 265 | Korea ITMC | South Korea | $53,241 |
| 266 | Pzena Investment | U.S. | $52,521 |
| 267 | Marathon-London | U.K. | $52,000 |
| 268 | Adams Street Partners | U.S. | $51,251 |
| 269 | Shinsei Bank | Japan | $51,143 |
| 270 | Angelo, Gordon | U.S. | $51,000 |
| 271 | Colliers International Group | Canada | $51,000 |
| 272 | Berenberg Group | Germany | $50,732 |
| 273 | Heitman | U.S. | $50,652 |
| 274 | PAG | Hong Kong | $50,000 |
| 275 | Goodman Group | Australia | $49,485 |
| 276 | Impax Asset Mgmt | U.K. | $49,177 |
| 277 | SECOR Asset Mgmt | U.S. | $47,494 |
| 278 | Asahi Mutual Life Insurance | Japan | $47,448 |
| 279 | Carmignac | France | $47,221 |
| 280 | Thornburg Investment | U.S. | $47,005 |
| 281 | GoldenTree Asset Mgmt | U.S. | $46,818 |
| 282 | Breckinridge Capital | U.S. | $46,725 |
| 283 | Gruppo Azimut | Italy | $46,647 |
| 284 | Comgest | France | $46,113 |
| 285 | Beutel, Goodman | Canada | $46,000 |
| 286 | Fortis | Canada | $45,380 |
| 287 | Causeway Capital | U.S. | $45,172 |
| 288 | Guardian Capital | Canada | $44,082 |
| 289 | Alger Associates | U.S. | $43,803 |
| 290 | Calamos Advisors | U.S. | $43,738 |
| 291 | Grayscale Investments | U.S. | $43,600 |
| 292 | Muzinich | U.S. | $43,266 |
| 293 | Kiwoom AMC | South Korea | $43,213 |
| 294 | Commerce Trust | U.S. | $42,889 |
| 295 | HUK Coburg | Germany | $42,738 |
| 296 | Mirabaud Group | Switzerland | $42,488 |
| 297 | Wiener Städtische Versicherung | Austria | $42,200 |
| 298 | Silchester International | U.K. | $42,062 |
| 299 | Coronation Fund Managers | South Africa | $41,549 |
| 300 | Royal Bank of Scotland | U.K. | $40,738 |
| 251 | Mondrian Investment Partners | U.K. | $58,974 |
| 252 | Renaissance Technologies | U.S. | $58,719 |
| 253 | Raiffeisen Zentralbank | Austria | $58,635 |
| 254 | Korea ITMC | South Korea | $58,379 |
| 255 | Patrizia Immobilien | Germany | $57,727 |
| 256 | Shinsei Bank | Japan | $57,667 |
| 257 | Intermediate Capital Group | U.K. | $57,655 |
| 258 | J. Safra Sarasin Group | Switzerland | $57,338 |
| 259 | Marathon-London | U.K. | $55,933 |
| 260 | HDFC Asset Mgmt. | India | $55,533 |
| 261 | Gtja Allianz Fund Mgmt. | China | $55,447 |
| 262 | Everbright Securities | China | $53,794 |
| 263 | ICICI Prudential Mutual Fund | India | $53,442 |
| 264 | Liberty Holdings | South Africa | $52,946 |
| 265 | Asahi Mutual Life Insurance | Japan | $52,569 |
| 266 | DNB | Norway | $51,810 |
| 267 | Westpac Banking6 | Australia | $51,659 |
| 268 | Oak Hill Advisors | U.S. | $49,965 |
| 269 | Aristotle | U.S. | $47,900 |
| 270 | Comgest7 | France | $47,656 |
| 271 | NH Amundi Asset Mgmt. | South Korea | $45,847 |
| 272 | Causeway Capital | U.S. | $45,519 |
| 273 | Carmignac | France | $45,445 |
| 274 | SECOR Asset Mgmt. | U.S. | $45,294 |
| 275 | Wiener Städtische Versicherung | Austria | $45,010 |
| 276 | Colliers International Group | Canada | $45,000 |
| 277 | Breckinridge Capital | U.S. | $44,815 |
| 278 | Gruppo Azimut | Italy | $44,596 |
| 279 | Kiwoom AMC | South Korea | $44,362 |
| 280 | HUK Coburg | Germany | $44,325 |
| 281 | Adams Street Partners | U.S. | $43,948 |
| 282 | Thornburg Investment | U.S. | $43,516 |
| 283 | Silchester International4 | U.K. | $43,475 |
| 284 | Heitman | U.S. | $43,448 |
| 285 | Pzena Investment | U.S. | $43,311 |
| 286 | Colchester Global Investors | U.K. | $43,008 |
| 287 | Angelo, Gordon | U.S. | $43,000 |
| 288 | Lexington Partners | U.S. | $42,721 |
| 289 | HuaAn Funds | China | $42,323 |
| 290 | Alger | U.S. | $42,029 |
| 291 | Beutel, Goodman | Canada | $41,364 |
| 292 | Bankia | Spain | $40,923 |
| 293 | Coronation Fund Managers | South Africa | $40,535 |
| 294 | Arca SGR | Italy | $40,519 |
| 295 | PAG | Hong Kong | $40,000 |
| 296 | Berenberg Group | Germany | $39,901 |
| 297 | Nurnberger | Germany | $39,703 |
| 298 | Goodman Group | Australia | $39,689 |
| 299 | Mirabaud Group | Switzerland | $39,523 |
| 300 | Royal Bank of Scotland | U.K. | $39,510 |
AUM 301-350
| 301 | Coronation Fund Managers | South Africa | $35,395 |
| 302 | Calamos Advisors | U.S. | $35,372 |
| 303 | Mitsui Fudosan Investment 3 | Japan | $34,868 |
| 304 | Caitong Fund Mgmt. | China | $34,651 |
| 305 | Carmignac | France | $34,266 |
| 306 | Gothaer Versicherungsgruppe | Germany | $34,234 |
| 307 | Nurnberger | Germany | $34,233 |
| 308 | SDIC UBS Fund Mgmt. | China | $34,222 |
| 309 | Royal Bank of Scotland | U.K. | $34,125 |
| 310 | Mirabaud Group | Switzerland | $34,105 |
| 311 | SECOR Asset Mgmt. | U.S. | $33,931 |
| 312 | Arca SGR | Italy | $33,789 |
| 313 | Kyobo Life Insurance 7 | South Korea | $33,787 |
| 314 | Stockbridge Capital Group | U.S. | $33,724 |
| 315 | Kotak Mahindra Asset Mgmt. | India | $33,295 |
| 316 | Aditya Birla Sun Life Mutual | India | $33,255 |
| 317 | Lendlease Investment Mgmt. | Australia | $32,595 |
| 318 | Kutxabank 2 | Spain | $32,558 |
| 319 | CIM Group 4 | U.S. | $32,554 |
| 320 | Alte Leipziger Group | Germany | $32,232 |
| 321 | MMI Holdings | South Africa | $31,983 |
| 322 | Ruffer 9 | U.K. | $31,954 |
| 323 | Orbis Investments | Bermuda | $31,378 |
| 324 | Colchester Global Investors | U.K. | $31,222 |
| 325 | MissionSquare Investments | U.S. | $30,704 |
| 326 | Laboral Kutxa | Spain | $30,355 |
| 327 | Generation Investment Mgmt. | U.K. | $30,000 |
| 328 | Yuanta Securities Investment | Taiwan | $29,918 |
| 329 | Ibercaja | Spain | $29,795 |
| 330 | NN Investment Partners | Netherlands | $29,676 |
| 331 | AGF Mgmt. | Canada | $29,529 |
| 332 | Comgest | France | $29,491 |
| 333 | GAMCO Investors | U.S. | $29,261 |
| 334 | Hungkuk ITMC 7 | South Korea | $29,204 |
| 335 | XP Asset Mgmt. 5 | Brazil | $29,027 |
| 336 | Shenkman Group | U.S. | $28,842 |
| 337 | Bank of Nanjing | China | $28,552 |
| 338 | Carnegie Investment | Sweden | $28,536 |
| 339 | Hotchkis & Wiley | U.S. | $28,329 |
| 340 | UTI Mutual Fund | India | $28,223 |
| 341 | QBE | Australia | $28,167 |
| 342 | Los Angeles Capital | U.S. | $28,058 |
| 343 | DMFCO 4 | Netherlands | $27,755 |
| 344 | Axis Mutual Fund | India | $27,485 |
| 345 | Alexander Forbes 4 | South Africa | $26,755 |
| 346 | Blue Sky Group | Netherlands | $26,687 |
| 347 | Intact Financial | Canada | $26,281 |
| 348 | EARNEST Partners | U.S. | $26,237 |
| 349 | Rockpoint Group | U.S. | $25,840 |
| 350 | Canso Investment Counsel | Canada | $25,838 |
| 301 | Colchester Global Investors | U.K. | $40,373 |
| 302 | Wasatch Global Investors | U.S. | $39,479 |
| 303 | Caitong Fund Mgmt | China | $39,225 |
| 304 | Kyobo Life Insurance | South Korea | $39,124 |
| 305 | Generation Investment Mgmt | U.K. | $39,000 |
| 306 | Edmond de Rothschild Group | Switzerland | $38,883 |
| 307 | Tikehau Capital | France | $38,841 |
| 308 | Nurnberger | Germany | $38,823 |
| 309 | Aditya Birla Sun Life Mutual | India | $38,348 |
| 310 | Arca SGR | Italy | $38,335 |
| 311 | Portfolio Advisors | U.S. | $38,290 |
| 312 | Charter Hall | Australia | $37,940 |
| 313 | Mitsui Fudosan Investment | Japan | $37,802 |
| 314 | Kotak Mahindra Asset Mgmt | India | $36,696 |
| 315 | Los Angeles Capital | U.S. | $36,596 |
| 316 | Highland Associates | U.S. | $36,496 |
| 317 | Orbis Investments | Bermuda | $35,709 |
| 318 | Gothaer Versicherungsgruppe | Germany | $35,405 |
| 319 | Ibercaja | Spain | $35,061 |
| 320 | Eagle Capital | U.S. | $35,024 |
| 321 | GAMCO Investors | U.S. | $34,982 |
| 322 | Hotchkis & Wiley | U.S. | $34,902 |
| 323 | Warburg Gruppe | Germany | $34,765 |
| 324 | MissionSquare Investments | U.S. | $34,234 |
| 325 | Huatai-PineBridge Investment | China | $34,000 |
| 326 | AGF Mgmt | Canada | $33,939 |
| 327 | Axis Mutual Fund | India | $33,901 |
| 328 | Alte Leipziger Group | Germany | $33,481 |
| 329 | Sarofim Group | U.S. | $32,900 |
| 330 | Polar Capital Holdings | U.K. | $32,893 |
| 331 | Dexus | Australia | $32,869 |
| 332 | Ruffer | U.K. | $32,375 |
| 333 | Mitsubishi Estate Group | Japan | $32,240 |
| 334 | Laboral Kutxa | Spain | $32,051 |
| 335 | Blue Sky Group | Netherlands | $32,028 |
| 336 | Co-operators Group | Canada | $31,296 |
| 337 | CIM Group | U.S. | $31,152 |
| 338 | Diamond Hill Capital | U.S. | $31,028 |
| 339 | MMI Holdings | South Africa | $30,896 |
| 340 | Shenkman Group | U.S. | $30,882 |
| 341 | Hungkuk ITMC | South Korea | $30,824 |
| 342 | Lindsell Train | U.K. | $30,543 |
| 343 | RWC Asset Mgmt | U.K. | $30,486 |
| 344 | Bank Syz | Switzerland | $30,154 |
| 345 | Bank of Nanjing | China | $30,139 |
| 346 | Carnegie Investment | Sweden | $29,948 |
| 347 | NFU Mutual | U.K. | $29,946 |
| 348 | Lendlease Investment Mgmt | Australia | $29,700 |
| 349 | First Pacific Advisors | U.S. | $29,378 |
| 350 | Knights of Columbus Asset | U.S. | $29,240 |
| 301 | GoldenTree Asset Mgmt. | U.S. | $39,184 |
| 302 | Kyobo Life Insurance | South Korea | $38,968 |
| 303 | Mitsui Fudosan Investment1 | Japan | $38,526 |
| 304 | Commerce Trust | U.S. | $38,298 |
| 305 | Parnassus Investments | U.S. | $38,144 |
| 306 | Orbis Investments | Bermuda | $37,140 |
| 307 | Regions Financial | U.S. | $37,140 |
| 308 | Edmond de Rothschild Group | Switzerland | $36,727 |
| 309 | Bank of Nanjing | China | $36,434 |
| 310 | Guardian Capital | Canada | $35,972 |
| 311 | Aditya Birla Sun Life Mutual | India | $35,759 |
| 312 | Charter Hall | Australia | $35,551 |
| 313 | Mitsubishi Estate Group1 | Japan | $35,429 |
| 314 | Alte Leipziger Group | Germany | $35,059 |
| 315 | Tikehau Capital | France | $35,005 |
| 316 | Impax Asset Mgmt. | U.K. | $34,459 |
| 317 | Huatai-PineBridge Investment4 | China | $33,000 |
| 318 | GAMCO Investors | U.S. | $32,561 |
| 319 | Hungkuk ITMC | South Korea | $32,512 |
| 320 | Calamos Advisors | U.S. | $32,348 |
| 321 | Eagle Capital | U.S. | $32,336 |
| 322 | Wasatch Global Investors | U.S. | $32,261 |
| 323 | Laboral Kutxa | Spain | $32,114 |
| 324 | Hotchkis & Wiley | U.S. | $31,687 |
| 325 | Ibercaja | Spain | $31,581 |
| 326 | Vantagepoint Investment | U.S. | $31,498 |
| 327 | Lindsell Train | U.K. | $31,436 |
| 328 | AGF Mgmt. | Canada | $30,860 |
| 329 | Generation Investment Mgmt. | U.K. | $30,700 |
| 330 | Portfolio Advisors | U.S. | $30,640 |
| 331 | Kotak Mahindra Asset Mgmt. | India | $30,492 |
| 332 | Blue Sky Group | Netherlands | $30,073 |
| 333 | MMI Holdings5 | South Africa | $29,768 |
| 334 | Los Angeles Capital | U.S. | $29,562 |
| 335 | Bank Syz | Switzerland | $29,444 |
| 336 | CIM Group | U.S. | $29,304 |
| 337 | Ruffer | U.K. | $28,512 |
| 338 | Matthews Asia | U.S. | $28,445 |
| 339 | Jackson Square Partners | U.S. | $28,276 |
| 340 | Knights of Columbus Asset | U.S. | $28,275 |
| 341 | NFU Mutual | U.K. | $28,241 |
| 342 | Alexander Forbes6 | South Africa | $28,090 |
| 343 | Co-operators Group | Canada | $27,979 |
| 344 | Lendlease Investment Mgmt.5 | Australia | $27,583 |
| 345 | Vinva | Australia | $27,471 |
| 346 | DuPont Capital | U.S. | $27,420 |
| 347 | Uniqa Finanz Group | Austria | $27,413 |
| 348 | Canyon Partners | U.S. | $27,381 |
| 349 | Canso Investment Counsel | Canada | $27,379 |
| 350 | Shenkman Group | U.S. | $27,276 |
AUM 351-400
| 351 | Knights of Columbus Asset | U.S. | $25,778 |
| 352 | Commonfund | U.S. | $25,310 |
| 353 | Co-operators Group | Canada | $25,247 |
| 354 | Bank Syz | Switzerland | $25,011 |
| 355 | Capula Investment Mgmt. | U.K. | $25,000 |
| 356 | Hayfin Capital Mgmt. | U.K. | $25,000 |
| 357 | Sarofim Group | U.S. | $25,000 |
| 358 | Diamond Hill Capital | U.S. | $24,763 |
| 359 | Zheshang Fund Mgmt. | China | $24,545 |
| 360 | Navigator Global Investments | Australia | $24,500 |
| 361 | Woori Asset Mgmt. 7 | South Korea | $24,431 |
| 362 | Triodos Bank | Netherlands | $24,118 |
| 363 | Canyon Partners | U.S. | $23,962 |
| 364 | Eagle Capital | U.S. | $23,915 |
| 365 | RWC Asset Mgmt. | U.K. | $23,875 |
| 366 | One Investment | Australia | $23,767 |
| 367 | SCOR | France | $23,676 |
| 368 | Luther King Capital | U.S. | $23,593 |
| 369 | LFPI | France | $23,485 |
| 370 | NFU Mutual | U.K. | $23,152 |
| 371 | Wasatch Global Investors | U.S. | $22,398 |
| 372 | Polar Capital Holdings | U.K. | $22,319 |
| 373 | King Street Capital | U.S. | $22,200 |
| 374 | Allan Gray Proprietary | South Africa | $22,126 |
| 375 | IBK AMC 7 | South Korea | $22,086 |
| 376 | GPT Group | Australia | $22,002 |
| 377 | Baring Private Equity Asia | China | $22,000 |
| 378 | Lindsell Train | U.K. | $21,992 |
| 379 | First Seafront Fund Mgmt. | China | $21,989 |
| 380 | Alger Associates | U.S. | $21,698 |
| 381 | Lion Fund Mgmt. | China | $21,657 |
| 382 | Madison Investments | U.S. | $21,622 |
| 383 | ACORE Capital | U.S. | $21,169 |
| 384 | IGIS Asset Mgmt. 7 | South Korea | $21,093 |
| 385 | PCCP | U.S. | $20,868 |
| 386 | Silvercrest Asset Mgmt. | U.S. | $20,851 |
| 387 | Bankinter | Spain | $20,848 |
| 388 | PSG Konsult 5 | South Africa | $20,829 |
| 389 | ANZ Banking Group 4 | Australia | $20,531 |
| 390 | Pacific Asset Mgmt. | U.S. | $20,214 |
| 391 | DuPont Capital | U.S. | $20,144 |
| 392 | Gruppo Credito Emiliano | Italy | $20,063 |
| 393 | Uniqa Finanz Group | Austria | $19,669 |
| 394 | EdgePoint Investment Group | Canada | $19,637 |
| 395 | Callodine Group | U.S. | $19,359 |
| 396 | Cathay Securities | Taiwan | $19,098 |
| 397 | Ziraat Portfoy | Turkey | $19,098 |
| 398 | Safra Asset Mgmt. | Brazil | $18,707 |
| 399 | Close Brothers Group 10 | U.K. | $18,451 |
| 400 | Unigestion | Switzerland | $18,391 |
| 351 | Alexander Forbes7 | South Africa | $29,185 |
| 352 | UTI Mutual Fund | India | $29,038 |
| 353 | QBE | Australia | $28,967 |
| 354 | Canso Investment Counsel5 | Canada | $28,949 |
| 355 | Kutxabank | Spain | $28,725 |
| 356 | Intact Financial | Canada | $28,699 |
| 357 | EARNEST Partners | U.S. | $28,639 |
| 358 | Commonfund | U.S. | $28,216 |
| 359 | Stockbridge Capital Group | U.S. | $27,983 |
| 360 | First Seafront Fund Mgmt | China | $27,944 |
| 361 | Yuanta Securities Investment | Taiwan | $27,604 |
| 362 | DMFCO | Netherlands | $27,593 |
| 363 | Triodos Bank | Netherlands | $27,404 |
| 364 | Luther King Capital | U.S. | $26,943 |
| 365 | GPT Group | Australia | $26,900 |
| 366 | Canyon Partners | U.S. | $26,534 |
| 367 | DuPont Capital | U.S. | $26,390 |
| 368 | Hayfin Capital Mgmt | U.K. | $26,045 |
| 369 | SCOR | France | $25,744 |
| 370 | One Investment | Australia | $25,396 |
| 371 | ANZ Banking Group5 | Australia | $25,192 |
| 372 | Matthews Asia | U.S. | $25,188 |
| 373 | Capula Investment Mgmt | U.K. | $25,130 |
| 374 | Silvercrest Asset Mgmt | U.S. | $25,073 |
| 375 | ACTIAM7 | Netherlands | $24,913 |
| 376 | Uniqa Finanz Group | Austria | $24,669 |
| 377 | XP Asset Mgmt | Brazil | $24,572 |
| 378 | Gruppo Credito Emiliano | Italy | $24,543 |
| 379 | Sprucegrove Investment | Canada | $24,479 |
| 380 | Davis Advisors | U.S. | $24,128 |
| 381 | Rockpoint Group | U.S. | $23,786 |
| 382 | Allan Gray Proprietary | South Africa | $23,620 |
| 383 | Burgundy Asset Mgmt | Canada | $23,538 |
| 384 | Bankinter | Spain | $23,432 |
| 385 | Woori Asset Mgmt | South Korea | $23,006 |
| 386 | Minsheng Royal Fund | China | $22,796 |
| 387 | Manning & Napier | U.S. | $22,543 |
| 388 | Champlain Investment | U.S. | $22,495 |
| 389 | EdgePoint Investment Group | Canada | $22,142 |
| 390 | Synovus Financial | U.S. | $22,000 |
| 391 | Unigestion | Switzerland | $21,800 |
| 392 | Navigator Global Investments7 | Australia | $21,500 |
| 393 | Close Brothers Group10 | U.K. | $21,027 |
| 394 | Baring Private Equity Asia | China | $21,000 |
| 395 | King Street Capital | U.S. | $21,000 |
| 396 | Yarra Capital Management | Australia | $20,926 |
| 397 | Congress Asset Mgmt | U.S. | $20,797 |
| 398 | Caixa Geral de Depositos | Portugal | $20,481 |
| 399 | Lion Fund Mgmt | China | $20,397 |
| 400 | Brandes Investment | U.S. | $20,164 |
| 351 | One Investment | Australia | $26,817 |
| 352 | Kutxabank | Spain | $26,762 |
| 353 | Diamond Hill Capital | U.S. | $26,411 |
| 354 | Minsheng Royal Fund | China | $26,373 |
| 355 | First Pacific Advisors | U.S. | $26,142 |
| 356 | Axis Mutual Fund | India | $26,064 |
| 357 | EARNEST Partners | U.S. | $25,870 |
| 358 | Polar Capital Holdings | U.K. | $25,797 |
| 359 | Commonfund | U.S. | $25,712 |
| 360 | SCOR | France | $25,206 |
| 361 | Hayfin Capital | U.K. | $25,179 |
| 362 | Triodos Bank | Netherlands | $24,933 |
| 363 | DMFCO | Netherlands | $24,917 |
| 364 | Allan Gray Proprietary | South Africa | $24,695 |
| 365 | Hunt | U.S. | $24,681 |
| 366 | Dexus | Australia | $24,595 |
| 367 | China Galaxy Securities | China | $23,926 |
| 368 | Sarofim Group | U.S. | $23,755 |
| 369 | RWC Asset Mgmt. | U.K. | $23,673 |
| 370 | UTI Mutual Fund | India | $23,602 |
| 371 | Capula Investment Mgmt. | U.K. | $23,450 |
| 372 | Davis Advisors | U.S. | $23,398 |
| 373 | Burgundy Asset Mgmt. | Canada | $23,201 |
| 374 | Baring Private Equity Asia | China | $23,000 |
| 375 | Segall Bryant & Hamill | U.S. | $22,891 |
| 376 | Unigestion | Switzerland | $22,830 |
| 377 | Yuanta Securities Investment | Taiwan | $22,750 |
| 378 | Sprucegrove Investment | Canada | $22,526 |
| 379 | Chandler Asset Mgmt. | U.S. | $22,280 |
| 380 | Gruppo Credito Emiliano | Italy | $21,904 |
| 381 | Luther King Capital | U.S. | $21,604 |
| 382 | QBE | Australia | $21,250 |
| 383 | Tactical Global Mgmt. | Australia | $21,087 |
| 384 | EdgePoint Investment Group | Canada | $20,965 |
| 385 | Bankinter | Spain | $20,891 |
| 386 | Stockbridge Capital Group | U.S. | $20,863 |
| 387 | Silvercrest Asset Mgmt. | U.S. | $20,700 |
| 388 | Carnegie Investment | Sweden | $20,265 |
| 389 | XP Asset Mgmt.4 | Brazil | $20,234 |
| 390 | Grayscale Investments | U.S. | $20,200 |
| 391 | Synovus Financial | U.S. | $20,200 |
| 392 | Bank of Comm. Schroder AM | China | $20,146 |
| 393 | Manning & Napier | U.S. | $20,119 |
| 394 | Caixa Geral de Depositos | Portugal | $20,017 |
| 395 | Lion Fund Mgmt. | China | $19,917 |
| 396 | Rockpoint Group | U.S. | $19,459 |
| 397 | Woori Asset Mgmt. | South Korea | $19,456 |
| 398 | SDIC UBS Fund Mgmt.3 | China | $19,075 |
| 399 | Champlain Investment | U.S. | $18,818 |
| 400 | GPT Group | Australia | $18,679 |
免責事項
記事は、一般的な情報提供のみを目的としてのみ作成したものであり、投資家に対する有価証券の売買の推奨や勧誘を目的としたものではありません。また、記事は信頼できると判断した資料およびデータ等により作成しておりますが、その正確性および完全性について保証するものではありません。また、将来の投資成果や市場環境も保証されません。最終的な投資決定は、投資家ご自身の判断でなされますようお願いします。
