Statistics at a glance

Assets in U.S. billions, managed for institutional investors, as of March 31, 2018.
Data source: P&I's Research Center

Investment outsource managers' worldwide institutional asset mix

Outsourced assets under investment management, weighted average, as of March 31, 2018.
Data source: P&I's Research Center

The largest 50 managers of outsourced assets

Size represents their assets value. The more assets, the bigger the box.
Color represents their clients. The more clients, the deeper the color.
For full manager profiles, please visit P&I's Research Center.

Worldwide institutional assets in outsourced investment programs, in U.S. millions, as of March 31, 2018.
*As of Dec. 31, 2017.
** Data as of March 31, 2017 was restated to align with asset recategorization as of March 31, 2018.
Data source: P&I's Research Center

Rankings

Largest investment outsource managers ranked by total assets

Rank Manager Total assets Number of clients AUM
1. Cambridge Associates* $226,961 365 $26,975
2. Mercer $211,971 1,122 $211,971
3. Russell Investments $163,764 383 $163,764
4. Aon Hewitt Investment $151,790 433 $151,790
5. Goldman Sachs Group $135,207 329 $81,586
6. Northern Trust Asset Mgmt. $122,487 103 $69,118
7. Willis Towers Watson $115,429 222 $115,429
8. BlackRock $105,264 123 $105,264
9. SEI Investments $103,200 530 $103,200
10. State Street Global Advisors $92,290 34 $92,290

Worldwide institutional assets in outsourced investment programs, in U.S. millions, as of March 31, 2018.
*As of Dec. 31, 2017.
Data source: P&I's Research Center

Largest investment outsource managers ranked by fully discretionary assets

Rank Manager Assets managed with full discretion Full discretion Partial discretion
1 Mercer $211,971 100% -
2 Aon Hewitt Investment $110,807 73% 27%
3 BlackRock $85,264 81% 19%
4 Goldman Sachs Group $81,586 100% -
5 State Street Global Advisors $80,292 87% 13%
6 Willis Towers Watson $75,029 65% 35%
7 Northern Trust Asset Mgmt. $69,118 100% -
8 Russell Investments $50,767 31% 69%
9 SEI Investments $44,376 43% 57%
10 Vanguard Group $36,369 87% 13%

Worldwide institutional outsourced assets under investment management, in U.S. millions, as of March 31, 2018.
Data source: P&I's Research Center