Top U.S.-listed asset managers to watch in 2026
Asset managers earn fees on whatever they manage, so market moves hit revenue directly. When active strategies underperform, client outflows compound that effect.
Asset managers pool capital from pension funds, endowments and private investors and deploy it across equities, fixed income and alternatives, earning fees on every dollar they manage. The six companies here all operate in that space, but the approaches vary – Brookfield Asset Management ($BAM) focuses on real assets like infrastructure and renewable energy, while Affiliated Managers Group ($AMG) takes ownership stakes in independent investment firms rather than running strategies itself.
How we built this list: We selected these companies based on their investment management and fund management business and ordered them by market capitalisation. Prices are updated daily, and the list and supporting content are reviewed roughly every quarter. All data is sourced from Stake. This list isn't a recommendation and isn't ordered by suitability.
Company Name | Ticker | Share Price | Market Cap | In Watchlists |
|---|---|---|---|---|
BlackRock | BLK | $1,095.37 | $177.97B | 4180 |
Brookfield Asst | BAM | $48.87 | $80.06B | 290 |
Ameriprise Fin | AMP | $556.67 | $49.17B | 111 |
T Rowe Price Grp | TROW | $109.42 | $23.34B | 565 |
Invesco | IVZ | $32.34 | $14.28B | 229 |
Affiliated Mngrs | AMG | $360.22 | $9.32B | 55 |
Past performance is not a reliable indicator of future performance.
Source: Stake market data. Figures in US$. Data updated as of 8 September 2026.
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1. BlackRock ($BLK)
BlackRock (BLK) share price over the last year: started at US$1,105.67, ended at US$1,095.37, a change of −0.9%. Range over the period: high US$1,202.59, low US$922.90. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$1,095.37 · Daily: -2.4% · Market cap: US$177.97B · Sector: Financials · Industry: Investment Services
Running money across equities, fixed income, alternatives and cash, BlackRock ($BLK) delivers its investment strategies through mutual funds, the iShares exchange-traded fund range and separate accounts. The firm serves institutional clients – pension funds, endowments – alongside retail investors, with 24,900 employees across its operations.
Alongside its fund management business, $BLK runs a technology arm built around several platforms. Aladdin provides investment and risk management software to institutions, while Aladdin Wealth targets financial advisers. eFront covers private markets analytics and Cachematrix handles cash management tools. CEO Laurence Fink leads across both the investment and technology sides of the company.
2. Brookfield Asst ($BAM)
Brookfield Asst (BAM) share price over the last year: started at US$56.13, ended at US$48.87, a change of −12.9%. Range over the period: high US$61.46, low US$42.87. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$48.87 · Daily: -3.4% · Market cap: US$80.06B · Sector: Financials · Industry: Investment Services
Brookfield Asset Management ($BAM) sits in the alternatives corner of the asset management world, focusing on what it calls real assets – infrastructure, real estate, renewable power and private equity rather than public stocks and bonds. The company says its approach centres on essential service businesses that underpin the broader economy: power grids, toll roads, data centres and the like.
Its client base runs to more than 2,500 institutional investors worldwide, including pension plans, sovereign wealth funds, endowments and insurance companies. CEO Bruce Flatt leads a business that employs 250,000 people globally. $BAM structures its products across three formats: long-term private funds, permanent capital vehicles and liquid strategies.
3. Ameriprise Fin ($AMP)
Ameriprise Fin (AMP) share price over the last year: started at US$493.34, ended at US$556.67, a change of +12.8%. Range over the period: high US$570.68, low US$430.40. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$556.67 · Daily: -0.7% · Market cap: US$49.17B · Sector: Financials · Industry: Investment Services
Ameriprise Financial ($AMP), led by CEO Jim Cracchiolo, combines financial planning, investment management and insurance businesses. The investment management arm runs under the Columbia Threadneedle Investments brand, serving retail, high net worth and institutional clients across global markets. RiverSource Life handles the retirement side, issuing variable annuities and payout annuities to individual clients. $AMP also sells life and disability income insurance, and employs 13,600 people across these businesses.
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4. T Rowe Price Grp ($TROW)
T Rowe Price Grp (TROW) share price over the last year: started at US$107.15, ended at US$109.42, a change of +2.1%. Range over the period: high US$121.68, low US$86.19. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$109.42 · Daily: -0.3% · Market cap: US$23.34B · Sector: Financials · Industry: Investment Services
T. Rowe Price Group ($TROW) has built its business around active investment management, where portfolio teams make deliberate decisions about what to own rather than tracking an index. Under CEO Rob Sharps, $TROW runs strategies across equity, fixed income, multi-asset and alternatives, distributing them through mutual funds, collective investment trusts, ETFs and separately managed accounts.
Its client base stretches from individuals and financial advisers through to large institutions and retirement plan sponsors. The firm's 7,773 employees also handle the administrative side of the business – recordkeeping for defined contribution retirement plans, shareholder services and transfer agent work among them.
5. Invesco ($IVZ)
Invesco (IVZ) share price over the last year: started at US$22.23, ended at US$32.34, a change of +45.5%. Range over the period: high US$33.31, low US$22.10. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$32.34 · Daily: -2.2% · Market cap: US$14.28B · Sector: Financials · Industry: Investment Services
Invesco Ltd. ($IVZ) manages money for a wide spectrum of clients – from sovereign wealth funds and endowments to retail investors using products like exchange-traded funds and open-end mutual funds. The firm covers equity, fixed income, alternatives and money market strategies, running both active and passive approaches under the same roof.
Under chief executive Andrew Schlossberg, $IVZ employs around 7,499 people and reaches clients in more than 120 countries. That reach means the firm deals in institutional separate accounts and private funds on one side, and individual savings accounts and variable insurance funds on the other. The firm runs a wide product range across many client types.
6. Affiliated Mngrs ($AMG)
Affiliated Mngrs (AMG) share price over the last year: started at US$231.96, ended at US$360.22, a change of +55.3%. Range over the period: high US$383.42, low US$230.78. Source: Stake market data. Past performance is not a reliable indicator of future performance.
Price: US$360.22 · Daily: -2.7% · Market cap: US$9.32B · Sector: Financials · Industry: Investment Services
Affiliated Managers Group ($AMG) centres its model on what it calls Affiliates – independent investment firms in which $AMG holds an equity stake. Those Affiliates serve institutional clients, high-net-worth individuals and family offices, deploying strategies across private markets, liquid alternatives and long-only approaches. Each Affiliate keeps operating under its own management, with the model built around preserving each firm's investment autonomy.
Jay Horgen serves as chief executive, leading a company of around 5,600 employees. The Affiliates operate in areas $AMG describes as having long-term structural tailwinds and long-dated capital commitments, with carried interest forming part of the economics over time.
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Common questions
How can Australian investors buy shares in U.S.-listed asset managers?
All the companies in this list trade on U.S. exchanges, so you buy them through a share trading platform that provides U.S. market access. Orders are placed and settled in USD, which means the AUD/USD rate affects both what you pay to buy and what you receive when you sell. Some platforms convert your AUD at the point of the order; others let you hold a USD balance.
What are the key risks of investing in asset managers?
Asset managers earn fees linked to the value of assets they manage, so a broad market downturn tends to shrink their revenue even when their operations are running smoothly. Active managers carry an additional layer of risk: sustained underperformance relative to benchmark tends to prompt client outflows, which compounds the revenue effect. Regulatory shifts around fee structures and fiduciary standards can affect how managers price and distribute their products. For Australian investors, movements in the AUD/USD rate add further exposure, since these companies earn and report in USD.
How do the business models across this list differ?
The companies here approach asset management in quite different ways. Some focus on traditional active strategies across equities and fixed income; others concentrate on alternatives like infrastructure, real estate and private equity. $BLK combines both with a technology platform it licences to other financial institutions. $AMG takes a different route – instead of managing capital directly, it holds ownership stakes in independent investment firms, so its revenue depends on how those partner businesses perform.
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Disclaimer
Past performance is not a reliable indicator of future performance. When you invest, your capital is at risk. You should consider your own investment objectives, financial situation, and particular needs before making an investment decision. The value of your investments can go down as well as up and you may receive back less than your original investment. As always, do your own research and consider seeking appropriate financial advice before investing.
This is not personal financial advice nor a recommendation to invest in the securities listed. Any advice provided by Stake is of general nature only and does not take into account your specific circumstances. Trading and volume data from the Stake investing platform is for reference purposes only, the investment choices of others may not be appropriate for your needs and is not a reliable indicator of performance.
Please refer to hellostake.com/pricing for the fees that apply. When you trade securities priced in another currency, currency conversion fees may apply and movements in the exchange rate may affect your returns.
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This article combines AI and human review from our analysts to bring you accurate, informative investing content at speed. For questions or suggestions, contact stakedesk@stake.com.au.
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