PIMCO and Blackstone have climbed the rankings of the top asset managers in Asia Pacific, according to the latest Broadridge’s Fund Brand 50 annual research study.
PIMCO, the world’s largest bond manager, jumped three spots from seventh to fourth, as higher interest rates increased the appeal of fixed income products last year.
Blackstone Group, the world’s largest alternatives manager, jumped thirty spots and broke into the top 10 as investor preferences shift towards alternatives and private assets.
The study found that the top-three brands, BlackRock, JP Morgan AM and Fidelity remained unchanged.
Evonne Gan, principal, Apac insights at Broadridge said: “There was growing interest in alternative investment assets from the institutional space across Apac, with demand for such investments simmering in the retail space as well.”
“Artificial Intelligence-related investment strategies also began to draw the attention of investors,” she added.
Elsewhere in the league table, index provider Vanguard jumped two spots to seventh, while Franklin Templeton fell three spots to ninth place.
Allianz GI and Alliance Bernstein both fell one place to fifth and sixth respectively, while Schroders remained unchanged in eighth place.
| Rank | Fund Group | Change |
| 1 | BlackRock | No Change |
| 2 | JPMorgan AM | No Change |
| 3 | Fidelity | No Change |
| 4 | PIMCO | + 3 |
| 5 | Allianz GI | – 1 |
| 6 | Alliance Bernstein | – 1 |
| 7 | Vanguard | + 2 |
| 8 | Schroders | No Change |
| 9 | Franklin Templeton | – 3 |
| 10 | BlackStone | + 30 |
The study also found that investors in Apac have been consolidating their products among a shrinking number of major global firms as a hedge against uncertainty.
Gan said: “Investors across Asia increasingly are turning to large, well-known, and reliable brand names to deliver the types of fund products they seek and their commensurate returns.”
“These drivers helped global managers to entrench themselves even deeper into Apac’s fund management landscape in 2024 amid challenging market conditions.”
Passive trends
There has been a trend towards passive fund products in China, Taiwan, Singapore and Australia, according to the study, with many firms consolidating their product offerings to align with evolving investor preferences.
The study also found that fund selectors also prioritised brand over investment teams, a reflection of a consumer shift from active to passive management.
‘Stability of investment management team’ as an attribute fell to eighth place, “as fund selectors care less than ever about who’s managing a portfolio that is weighted ever more heavily to index trackers and algorithmic trading”, the study said.
Outside the of top 10 asset management brands, KKR, and other major players in alternative strategies climbed the rankings as investor appetite for new investment classes grew.
Elsewhere, an “ETF fever” in Apac benefitted major global managers with well-known offerings disproportionately, according to the study.
