US Asset Managers Dominate Europe’s Fund Growth as Passive Investing Booms

US investment giants are outpacing European rivals in the race for assets. BlackRock, Vanguard, and JPMorgan Asset Management now control $4.9 trillion across Europe and the UK — more than double their holdings from a decade ago, according to ISS Market Intelligence.

The surge is powered by the rise of low-cost ETFs and index funds, with BlackRock managing $1.4 trillion in European passive strategies and Vanguard $442 billion. Analysts say scale advantages and the depth of US capital markets have helped these firms lead growth in high-demand segments like passive investing and private markets.

While European stalwarts such as UBS, Amundi, and DWS remain strong, industry leaders warn that midsized active managers face an uphill battle. JPMorgan AM and others see opportunity in the shrinking pool of active competitors, but for now, US fund houses hold the upper hand in Europe’s evolving asset management landscape.