2022 Top 100 Asset Owners Ranking
Learn about the latest key insights on the top 100 asset owners in the world in 2022. Who are the asset owners that are driving investments? Are they competing for returns with you in the market? Do you raise funds from them? Are they your clients? Are your retirement, insurance or invested funds managed by them? Are you working for the funds? Do you have a heavier responsibility or facing more restrictions in deploying investments in a changing world? Get the latest insights on the top 100 largest asset owners including Pension Funds, Sovereign Wealth Funds (SWF), Outsourced Chief Investment Officer (OCIO), Foundations, Endowments and Insurance Companies. See the 2022 Asset Owner Top 100 Ranking below | View: 2022 Asset Owner 100 Study
“ Top 100 Asset Owners with $25.7 Trillion AUM, Top 10 Largest from Japan, Norway, China, UAE, South Korea, United States, Singapore, Kuwait, Netherlands, Hong Kong “
Thinking Ahead Institute 2022 Asset Owner 100 Study
The Thinking Ahead Institute has released the 2022 Asset Owner 100 study, providing key data & insights on the top 100 global asset owners including Pension Funds, Sovereign Wealth Funds (SWF), Outsourced Chief Investment Officer (OCIO), Foundations, Endowments and Insurance Companies. In 2021, the Top 100 Asset Owners managed a total of $25.7 trillion AUM (Pension 55.9%, SWF 36.7%, OCIO 7.4%) with average asset allocation of 44.5% in Equity, 32.3% in Fixed Income, and 23.2% in Alternative. (AUM ~ Assets under Management) – See 2022 Asset Owner Top 100 Ranking below | View: 2022 Asset Owner 100 Study
2022 Top 100 Asset Owners Ranking
The top 5 largest asset owners in 2021 are Government Pension Investment Fund (Japan) with $1.73 trillion, Norges Bank Investment Management (Norway) with $1.4 trillion, China Investment Corporation (China) with $1.22 trillion, SAFE Investment Company (China) with $980 billion and Abu Dhabi Investment Authority (UAE) with $829 billion.
Leading financial centres Hong Kong and Singapore have 2 funds respectively in the Top 100: GIC (Singapore) with $744 billion & Central Provident Fund (Singapore) with $374 billion, and HKMA Investment Portfolio (Hong Kong) with $587 billion & MPFA (Hong Kong) with $150 billion.
| Rank | Asset Owner | Country | AUM | Type |
| 1 | Government Pension Investment Fund | Japan | $1.73 trillion | Pension |
| 2 | Norges Bank Investment Management | Norway | $1.4 trillion | SWF |
| 3 | China Investment Corporation | China | $1.22 trillion | SWF |
| 4 | SAFE Investment Company | China | $980 billion | SWF |
| 5 | Abu Dhabi Investment Authority | UAE | $829 billion | SWF |
| 6 | National Pension | South Korea | $797 billion | Pension |
| 7 | Federal Retirement Thrift | U.S. | $774 billion | Pension |
| 8 | GIC | Singapore | $744 billion | SWF |
| 9 | Kuwait Investment Authority | Kuwait | $738 billion | SWF |
| 10 | APG | Netherlands | $630 billion | Pension |
| 11 | HKMA Investment Portfolio | Hong Kong | $587 billion | SWF |
| 12 | California Public Employees | U.S. | $496 billion | Pension |
| 13 | Public Investment Fund/Sanabil Investments | Saudi Arabia | $480 billion | SWF |
| 14 | Qatar Investment Authority | Qatar | $445 billion | SWF |
| 15 | Canada Pension | Canada | $426 billion | Pension |
| 16 | National Social Security | China | $406 billion | Pension |
| 17 | Central Provident Fund | Singapore | $374 billion | Pension |
| 18 | Mercer | U.S. | $370 billion | OCIO |
| 19 | CDPQ | Canada | $329 billion | Pension |
| 20 | California State Teachers | U.S. | $313 billion | Pension |
| 21 | PGGM | Netherlands | $304 billion | Pension |
| 22 | Investment Corporation of Dubai | UAE | $302 billion | SWF |
| 23 | Mubadala Investment Company | UAE | $284 billion | SWF |
| 24 | Temasek Holdings | Singapore | $283 billion | SWF |
| 25 | New York State Common | U.S. | $267 billion | Pension |
| 26 | New York City Retirement | U.S. | $266 billion | Pension |
| 27 | Local Government Officials | Japan | $248 billion | Pension |
| 28 | Employees Provident Fund | Malaysia | $242 billion | Pension |
| 29 | Goldman Sachs | U.S. | $239 billion | OCIO |
| 30 | Florida State Board | U.S. | $213 billion | Pension |
| 31 | Korea Investment Corporation | South Korea | $205 billion | SWF |
| 32 | AON | U.S. | $204 billion | OCIO |
| 33 | BLF | Taiwan | $202 billion | Pension |
| 34 | Texas Teachers | U.S. | $196 billion | Pension |
| 35 | MN Services N.V. | Netherlands | $192 billion | Pension |
| 36 | Ontario Teachers | Canada | $191 billion | Pension |
| 37 | Future Fund Management Agency | Australia | $185 billion | SWF |
| 38 | BlackRock | U.S. | $184 billion | OCIO |
| 39 | Russian National Wealth Fund | Russia | $182 billion | SWF |
| 40 | State Street Global Advisors | U.S. | $181 billion | OCIO |
| 41 | WTW | U.S. | $181 billion | OCIO |
| 42 | Russell Investments | U.S. | $175 billion | OCIO |
| 43 | AustralianSuper | Australia | $169 billion | Pension |
| 44 | CDC | France | $166 billion | Pension |
| 45 | Public Service Pension Investment Board | Canada | $162 billion | Pension |
| 46 | Washington State Board | U.S. | $161 billion | Pension |
| 47 | Public Institute for Social Security | Kuwait | $159 billion | Pension |
| 48 | British Columbia Investment | Canada | $158 billion | Pension |
| 49 | Public Investment Corporation | South Africa | $157 billion | SWF |
| 50 | ATP | Denmark | $155 billion | Pension |
| 51 | MPFA | Hong Kong | $150 billion | Pension |
| 52 | Wisconsin Investment Board | U.S. | $147 billion | Pension |
| 53 | Boeing | U.S. | $147 billion | Pension |
| 54 | Employees’ Provident | India | $144 billion | Pension |
| 55 | New York State Teachers | U.S. | $144 billion | Pension |
| 56 | North Carolina | U.S. | $137 billion | Pension |
| 57 | Alecta | Sweden | $136 billion | Pension |
| 58 | California University | U.S. | $125 billion | Pension |
| 59 | Bayerische Versorgungskammer | Germany | $122 billion | Pension |
| 60 | Ohio Public Employees | U.S. | $121 billion | Pension |
| 61 | AT&T | U.S. | $119 billion | Pension |
| 62 | National Federation of Mutual Aid | Japan | $117 billion | Pension |
| 63 | IBM | U.S. | $115 billion | Pension |
| 64 | National Development Fund | Iran | $115 billion | SWF |
| 65 | Universities Superannuation | U.K. | $111 billion | Pension |
| 66 | Virginia Retirement | U.S. | $110 billion | Pension |
| 67 | Pension Fund Association | Japan | $109 billion | Pension |
| 68 | Raytheon Technologies | U.S. | $108 billion | Pension |
| 69 | ADQ | UAE | $108 billion | SWF |
| 70 | Michigan Retirement | U.S. | $107 billion | Pension |
| 71 | Aware Super | Australia | $107 billion | Pension |
| 72 | Royal Dutch Shell | Netherlands | $104 billion | Pension |
| 73 | New Jersey | U.S. | $104 billion | Pension |
| 74 | Minnesota State Board | U.S. | $102 billion | Pension |
| 75 | PFA Pension | Denmark | $102 billion | Pension |
| 76 | Alberta Investment Management Corp | Canada | $102 billion | Pension |
| 77 | KLP | Norway | $102 billion | Pension |
| 78 | Kaiser | U.S. | $101 billion | Pension |
| 79 | Georgia Teachers | U.S. | $100 billion | Pension |
| 80 | SEI Investments | U.S. | $100 billion | OCIO |
| 81 | Oregon Public Employees | U.S. | $100 billion | Pension |
| 82 | Danica Pension | Denmark | $99 billion | Pension |
| 83 | Northern Trust | U.S. | $98 billion | OCIO |
| 84 | Massachusetts PRIM | U.S. | $98 billion | Pension |
| 85 | Qsuper | Australia | $96 billion | Pension |
| 86 | General Motors | U.S. | $96 billion | Pension |
| 87 | Ontario Municipal Employees | Canada | $95 billion | Pension |
| 88 | Ohio State Teachers | U.S. | $95 billion | Pension |
| 89 | AP Fonden | Sweden | $94 billion | Pension |
| 90 | Healthcare of Ontario | Canada | $90 billion | Pension |
| 91 | General Electric | U.S. | $90 billion | Pension |
| 92 | Bouwnijverheid | Netherlands | $88 billion | Pension |
| 93 | United Parcel Service | U.S. | $86 billion | Pension |
| 94 | N. M. Superannuation Proprietary | Australia | $86 billion | OCIO |
| 95 | United Nations Joint Staff | U.S. | $86 billion | Pension |
| 96 | Emirates Investment Authority | UAE | $86 billion | SWF |
| 97 | Lockheed Martin | U.S. | $85 billion | Pension |
| 98 | Rothesay Life | U.K. | $84 billion | Pension |
| 99 | J.P. Morgan Asset & Wealth Management | U.S. | $83 billion | OCIO |
| 100 | TCorp (NSW Treasury Corporation) | Australia | $83 billion | SWF |
The Asset Owner 100 Study
The Asset Owner 100 is a Thinking Ahead Institute study which gathers data on the total assets of the top 100 asset owners around the world. Though not included in the ranking, the study also presents the total assets for the top 10 insurers and the top 10 foundations and endowments. Since its establishment in 2015, over 60 investment organisations have collaborated to bring this vision to light through designing fit-for-purpose investment strategies; better organisational effectiveness and strengthened stakeholder legitimacy. Thinking Ahead Institute is an innovation network founded by WTW. In 2016, Willis Group and Towers Watson merged to become WTW.
About the Thinking Ahead Institute
The Thinking Ahead Institute was established in January 2015 and is a global not-for-profit investment research and innovation member group made up of engaged institutional asset owners and service providers committed to changing and improving the investment industry for the benefit of the end saver. It has over 55 members around the world and is an outgrowth of WTW Investments’ Thinking Ahead Group, which was set up in 2002.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com
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