US institutional investment landscape dominated by large international players

Some managers specifically focused on the institutional audience also hold strong positions, research by Fundamental Media reveals 

Key points: 

• The asset management landscape in the US is led by a small group of large, well-known international players, and some specifically focused on the institutional audience. 

• Institutional investors mentioned 143 different brands across multiple asset classes and management styles, with the top asset manager being mentioned at least once by 50% of respondents. 

• Respondents mentioned 58 different brands as the asset managersthat offer the best communication support. 

The asset management landscape in the US is led by a small group of large, well-known international players, and some specifically focused on the institutional audience, according to research by Fundamental Media. 

Our US Institutional Global Brand Survey 2024, which is based on the responses from 53 institutional investors in the US, focuses on their perception of asset managers’ brands. We have developed a Brand Equity Index using a combination of quantitative and qualitative methods across four pillars: recall, familiarity, propensity to buy and distinctiveness.  

Our research found that respondents mentioned 143 different brands across multiple asset classes and management styles, with the top asset manager being mentioned at least once by 50% of respondents, and 40% of respondents mentioning the second and third-ranking asset managers. These figures show a strong dominance of these three asset managers in the US market, followed by a solid group of competitors who are well recognized for their expertise in specific asset classes or management styles. 

Brand recall is positively correlated to propensity to buy, with 72% of companies mentioned in propensity to buy also being recalled for specific asset classes and management styles. However, only 20% of the 143 recalled brands were also mentioned in propensity to buy. This suggests that while being on top of mind is key, the number of companies considered in requests for proposals (RFPs) is limited, and other factors will also play a crucial role. 

On average, most respondents are very familiar or quite familiar with a quarter of the asset managers prompted. The top three brands are well-known among more than 75% of respondents. 

Comments related to the asset managers in the propensity to buy question reveal that product and know-how are the key attributes and strengths that institutional investors prioritise when selecting companies for RFPs.  

Respondents mentioned 58 different brands as the asset managersthat offer the best communication support. However, only a few stood out with multiple mentions. Companies with a strong reputation, expertise on specific asset classes and strategies, and who provide excellent reporting, research and good customer service were among the most preferred.  

For more information on our Global Brand Survey and to obtain a copy, please visit our dedicated webpage.