10 Largest Mutual Fund Companies Manage $36 Trillion in Assets, 69% More than US GDP
Data presented by Buy Shares indicates that the top ten largest mutual fund companies cumulatively have $36.26 trillion assets under management. The assets are as of September 2020.
Mutual fund companies reverse effects of pandemic
Black Rock Funds ranks top with $7.08 trillion in assets under management followed by Vanguard at $5.7 trillion while Charles Schwab ranks third with $4.28 trillion assets.
Fidelity Investment has the fourth-highest assets under management at $3.31 trillion followed by State Street Global Advisors at $3.15 trillion.
JP Morgan ranks sixth at $2.6 trillion followed by Capital Group’s $2.1 trillion while Amundi Asset Management ranks eighth at $2.02 trillion the same amount as PIMCO. BNY Mellon (Dreyfus) is tenth with $ 2 trillion.
The research highlights some of the major trends in the mutual funds’ industry in 2020. According to the research report:
“Notably, the highlighted companies were impacted to some extent by the pandemic. The coronavirus pandemic hit the mutual funds industry with declining market outflows. However, most companies in the space have reversed the losing trend over the second quarter as central banks and governments around the globe started rolling out stimulus programs and economic relief packages to cushion the economic drawdowns.”
The data also compared the asset held by the top ten mutual funds companies to the United States Gross Domestic Product (GDP). As of December 2020, the US GDP is at $21.25 trillion. Therefore, the funds’ cumulative assets under management are about 69.83% more than the US GDP.
The Buy Shares research also commented on the US economy amid the coronavirus pandemic. According to the report:
“Despite the US economy shrinking in the first and second quarter, it made significant gains in the third quarter. The growth was fueled by the pandemic relief package. The economic growth was threatened by the raging new coronavirus cases and dwindling fiscal stimulus.”