According to Morningstar, money market funds globally took in US$1.1 trillion ($1.47 trillion) in 2023, far outpacing any long-term asset class in flow terms. Total assets reached a record US$7.7 trillion.
As Singapore-related real estate investment managers — CapitaLand Investment, Keppel, Mapletree Investments, ESR Group and GLP Capital Partners — tussle for top position in assets under management and funds under management, there is no dispute on who is the top asset manager globally.
Morningstar says Vanguard is the world’s top passive asset manager, with 37% of market share, followed by iShares which is far behind with 15% (see Table 1).
