For the second year, Institutional Investor asked publicly traded companies which asset managers are their best shareholders. The very top of the rankings didn’t change much but there were some new additions further down the list.
Asset managers have been formalizing and improving their engagement with the companies they own — or want to own— over the past 15 years, since the global financial crisis. Covid-19 tested how proficient managers had become by forcing everyone to communicate remotely — which they did successfully.
Now, videoconferencing has become a norm but corporate asset managers’ access teams say there is still a lot of value in portfolio managers and analysts meeting in-person with corporate leaders. Asset managers are also building tools and continually trying to think of ways to better those consequential lines of communication.
Fidelity was ranked No. 1 Institutional Investor’s 2024 ranking of America’s Top Asset Management Firms, the same place it finished in last year’s inaugural ranking. Other firms also finished in the same place they did last year: T. Rowe Price was No. 2, Wellington Management was No. 3, J.P. Morgan Asset Management was No. 4, and Capital Research & Management (Global Investors) was No. 5 again.
Columbia Threadneedle, which ranked No. 6, and MFS Investment Management, which placed No. 7, were new to the top 10. Neuberger Berman fell from No. 8 in 2023 to No. 15 in 2024, where it was tied with Balyasny Asset Management and Cohen & Steers Capital Management.
The rankings are based on a survey of corporate executives and heads of investor relations across the U.S. Nearly 400 companies nominated over 330 asset management firms, rating them on four key metrics: active engagement to support long-term business plans; efficient engagement across funds; industry knowledge; and ongoing feedback.
