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Data & Research April 1, 2024
Vanguard Surpasses BlackRock for Top Spot in Asset Management Brand Ranking
The Broadridge Fund Brand 50 report shows the influence of brand on third-party fund selection.
Reported by Natalie Lin
The Vanguard Group has edged BlackRock Inc. for the top spot in an annual fund investor survey gauging sentiment toward the largest asset managers.
The latest edition of Broadridge’s Fund Brand 50, released March 27, spotlighted top-performing third-party asset management brands globally. In the U.S., stability and client service took center stage as key factors among investors, according to Broadridge Financial Solutions.
The rankings, along with year-over-year change:
Top 10 U.S. Asset Management Brands
Rank | Fund Group | Change |
1 | The Vanguard Group | ↑ 1 |
2 | BlackRock Inc. | ↓ 1 |
3 | Capital Group | 0 |
4 | JPMorgan Chase & Co. | ↑ 1 |
5 | Fidelity Investments | ↓ 1 |
6 | PIMCO Investments | 0 |
7 | The Goldman Sachs Group | ↑ 3 |
8 | Franklin Templeton | 0 |
9 | Dimensional Fund Advisors | 0 |
10 | First Trust Portfolios LP | ↑ 4 |
In other moves, JPMorgan Chase & Co.’s asset division rose one spot to fourth place, and First Trust Portfolios LP took the 10th position from T. Rowe Price.
The importance of clear and detailed materials for investor clients in a crowded marketplace are crucial to a firm’s results, Broadridge stated in its report. The financial services firm also noted that investors favored asset managers capable of articulating clear and effective strategies for risk-return balance. Moreover, expertise was highly valued, with advisers seeking knowledgeable fund specialists who could provide detailed analysis quickly.
“In 2024, fund selectors and gatekeepers were resolute that top-choice managers concentrate on services that add value to their investors, such as keeping them best informed and sharing their knowledge of the markets,” said Jeff Tjornehoj, Broadridge’s senior director of fund insights, in a statement. “Those same selectors also emphasized asset management partners who help them meet the shifting needs of heterogeneous investors through development of appealing investment strategies.”
Additional findings included the dominance of U.S. fund flows and managers that focused on driving industry innovation in new products like model portfolios and actively managed exchange-traded funds.
The Broadridge Fund Brand 50 report is based on interviews in Europe, Asia Pacific and the U.S. with more than 1,200 fund selectors and gatekeepers, according to the firm.