Table of tax rates by year

Most of the assets under management of public pension funds (PPFs) in the United States were allocated into U.S. Equities and fixed income in 2023, with a slightly larger share than public equities. Fixed income and treasuries accounted for around 20 percent of pension funds' total assets under management, while U.S. equities accounted for nearly 25 percent.

Public Pension Funds (PPFs) are typically retirement savings funds for citizens employed by the state. Part of an employees salary is allocated to the PPF with an independent guarantee from underlying asset performance.

As of March 2024, the 30-day delinquency rate for commercial mortgage-backed securities (CMBS) varied per property type. The share of late payments for office CMBS was the highest at over 6.58 percent, about two percentage points higher than the average for all asset classes. A 30-day delinquency refers to payments that are one month late, regardless of how many days the month has. Commercial mortgage-backed securities are fixed-income investment products which are backed by mortgages on commercial property.

Graph and download economic data for Households; Net Worth, Level (BOGZ1FL192090005Q) from Q4 1987 to Q4 2024 about net worth, Net, households, and USA.

Graph and download economic data for Households and Nonprofit Organizations; Directly and Indirectly Held Corporate Equities as a Percentage of Financial Assets; Assets, Level (BOGZ1FL153064486Q) from Q4 1945 to Q4 2024 about nonprofit organizations, equity, percent, assets, households, and USA.

Amid a worsening economic climate, the value of commercial real estate investment in the U.S. plummeted in 2023, with a mild increase in 2024. According to industry professionals, the biggest factors impacting the real estate industry in 2025 are the rising cost of finance, and declining capital availability. Development of commercial real estate cap rates in the U.S. Cap rates started to increase in 2022, reflecting a decline in property values. According to the forecast, cap rates for commercial real estate are expected to peak in 2024, followed by a steady decline. Cap rates measure the expected rate of return on investment properties and are calculated by dividing the net operating income of the property by the current asset value. While a higher cap rate indicates a higher rate of return, it is also associated with higher risk. Which property type has the best development prospects? In 2025, the development opportunities in the commercial real estate sector deemed the best for single-family real estate. Industrial and distribution real estate, including warehouses, factories, and big box distribution centers, was also ranked high.

Graph and download economic data for Money Market Funds; Total Financial Assets, Level (MMMFFAQ027S) from Q4 1945 to Q4 2024 about MMMF, IMA, financial, assets, and USA.

Snapshot img

Asset Management Market Size 2024-2028

The asset management market size is forecast to increase by USD 157.2 billion at a CAGR of 6.9% between 2023 and 2028.

The market is experiencing significant growth due to the increasing global wealth and the launch of new investment funds. Existing resources are being enhanced through technological advancements to improve profitability and price trend analysis for various investment vehicles, such as mutual funds. Retail investors are increasingly turning to asset management services for secure and diversified investment opportunities.
However, the market faces challenges, including cybersecurity threats and complex regulatory environments, which require network layouts that prioritize security and compliance. By staying informed of these trends and challenges, asset management firms can position themselves for success in this dynamic market.

What will be the Size of the Market During the Forecast Period?

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The market is witnessing significant growth due to the increasing adoption of advanced technologies such as artificial intelligence (AI), Internet of Things (IoT), and business process automation. These technologies are revolutionizing various industries, including the energy sector, industrial automation, logistics management, and supply chain optimization. One of the primary drivers of the market is the need for operational efficiency. AI-powered logistics and smart warehousing solutions enable real-time tracking and predictive analytics, allowing businesses to optimize their inventory levels and reduce costs. In addition, IoT integration facilitates remote asset monitoring, ensuring that equipment is operating at peak performance and reducing downtime.
Additionally, another significant trend in the market is digital transformation. Businesses are increasingly leveraging technology to streamline their operations, improve supply chain visibility, and enhance customer experience. For instance, AI-driven predictive analytics enable asset tracking solutions to anticipate maintenance needs, reducing the likelihood of unexpected downtime and improving overall asset utilization. Moreover, the market is witnessing a shift towards sustainable investing. Institutional investors are increasingly focusing on alternative asset classes such as sustainable investment and impact investing. This trend is driven by a growing awareness of environmental, social, and governance (ESG) issues and the need to align investments with long-term sustainability goals.
Moreover, despite the opportunities, the market also faces challenges such as geopolitical risks, tax optimization, and financial management. To mitigate these risks, businesses are seeking investment education and financial literacy to make informed decisions and optimize their portfolios. In conclusion, the market is undergoing a significant transformation, driven by the adoption of advanced technologies and the shift towards sustainable investing. By optimizing asset utilization, improving operational efficiency, and enhancing supply chain visibility, businesses can reduce costs, improve customer experience, and stay competitive in an increasingly complex business environment.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Component

  Solution
  Services


Source

  Pension funds and insurance companies
  Individual investors
  Corporate investors
  Others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  APAC

    China
    India
    Japan
    South Korea
    Singapore


  South America



  Middle East and Africa

By Component Insights

The solution segment is estimated to witness significant growth during the forecast period.

Asset management refers to the strategies and systems employed by companies to manage their business assets effectively. These assets can include investment products offered by boutique investment companies, as well as alternative investments. Partnerships with global wealth management firms can also be integral to successful asset management. However, navigating the complex regulatory environment can present significant compliance burdens. To effectively manage assets, corporations require strong solutions that integrate various components. Real-time asset tracking systems are essential for maintaining accurate and current information on asset status and location. Without these systems, companies risk incurring inefficiencies that can result in substantial time and financial losses.

Additionally, effective asset management strategies encompass investment strategies designed to optimize

The California Public Employees' Retirement System (CalPERS) is a Public Pension Fund (PPF) located in California in the United States. As of 2022, CalPERS had a total 10-year return rate of almost eight percent, spreading portfolio allocation across four major asset classes. Investments in private equity provided the highest level of returns and generated an almost 14 percent 10-year return rate. This rate, however, was below the average range of return on private equity investment made by public funds.

Graph and download economic data for Pension Funds; Total Financial Assets, Level (BOGZ1FL594090005Q) from Q4 1945 to Q4 2024 about pension, assets, and USA.

The New York State Common Retirement Fund (NYSCEF) is a Public Pension Fund (PPF) located in New York in the United States. As of 2022, NYSCEF had a total 10-year return rate of almost 10 percent, spreading portfolio allocation across five major asset classes. Investments in private equity provided the highest level of returns and generated a roughly 15 percent 10-year return rate.

In the first quarter of 2024, almost two-thirds percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 2.5 percent of the total wealth. Income inequality in the U.S. Despite the idea that the United States is a country where hard work and pulling yourself up by your bootstraps will inevitably lead to success, this is often not the case. In 2023, 7.4 percent of U.S. households had an annual income under 15,000 U.S. dollars. With such a small percentage of people in the United States owning such a vast majority of the country’s wealth, the gap between the rich and poor in America remains stark. The top one percent The United States follows closely behind China as the country with the most billionaires in the world. Elon Musk alone held around 219 billion U.S. dollars in 2022. Over the past 50 years, the CEO-to-worker compensation ratio has exploded, causing the gap between rich and poor to grow, with some economists theorizing that this gap is the largest it has been since right before the Great Depression.

View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.

Graph and download economic data for All Sectors; Commercial Mortgages; Asset, Level (ASCMA) from Q4 1945 to Q4 2024 about mortgage, sector, commercial, assets, and USA.

Market Overview:

The global mutual fund assets market size reached USD 76.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 180.1 Billion by 2033, exhibiting a growth rate (CAGR) of 10% during 2025-2033. The market is driven by technological advancements, demographic shifts, increasing disposable incomes in emerging economies, and a growing emphasis on diversified and sustainable investment strategies.

Mutual Fund Assets Market Trends/Drivers:

• Diversified Investment Portfolios: The global mutual fund assets market is growing on account of the increased investor preference for diversified portfolios. Mutual funds offer an accessible way to spread risk across various asset classes, appealing to both novice and experienced investors.
• Technological Advancements: Digital platforms and fintech innovations have democratized access to mutual funds. The integration of artificial intelligence (AI) and machine learning in investment strategies is enhancing personalization and optimizing portfolio management, attracting a tech-savvy investor base.
• Evolving Regulatory Landscape: Regulatory changes globally are aiming to increase transparency and investor protection. Stricter disclosure requirements and the enforcement of fiduciary responsibilities are building investor confidence and stimulating market growth.
• Shifting Demographic Profiles: An aging population in developed countries and rising disposable incomes in emerging markets are key drivers. Mutual funds cater to the varying needs of these demographics, from retirement planning to entry-level investment options.
• Sustainable Investing Trends: There is a noticeable shift toward environmental, social, and governance (ESG) themed mutual funds. This trend reflects a growing awareness of sustainability issues and their long-term impact on investment returns.
• Market Breakup by Investor Type: Institutional investors, with their large capital and long-term investment strategies, significantly influence the mutual fund assets market. Their substantial investments and strategic decision-making shape market dynamics.
• Regional Markets: North America leads in market share due to its advanced financial infrastructure and investment culture. Europe and Asia Pacific also show strong market presence, each with unique growth drivers and challenges.
• Distribution Channels: Financial advisors and brokers are the largest distribution channel, offering personalized investment advice. Banks and direct sellers, including online platforms, also play significant roles, catering to different investor preferences and behaviors.
• Market Potential and Challenges: The mutual fund assets market is supported by its adaptability to investor needs and market conditions. However, it faces challenges like market volatility, geopolitical uncertainties, and evolving regulatory environments.

Mutual Fund Assets Market Trends/Drivers:

Rising interest in diversified investment portfolios

One primary driver of the industry is the increasing inclination toward diversified investment portfolios. With the growing awareness of the risks associated with investing in a single asset class, individual and institutional investors are progressively seeking mutual funds as a means to diversify their investments. Mutual funds offer a blend of stocks, bonds, and other securities, thereby spreading the risk across various financial instruments and markets. This diversification helps mitigate the impact of volatility in any one sector or region and provides exposure to a broader range of growth opportunities. Additionally, mutual funds are managed by professional fund managers, who bring expertise in market analysis and portfolio strategy, further appealing to investors who may lack the time or expertise to manage their investments. This trend is particularly noticeable among new investors and those in emerging markets, where mutual funds are seen as a gateway to more sophisticated investment strategies.

Advancements in fintech

Another key driver is the technological advancements in the financial sector, particularly the emergence of fintech and robo-advisors. These innovations have significantly democratized access to mutual fund investments, making them more accessible to a broader audience. Online platforms and mobile applications have simplified the process of investing in mutual funds, offering user-friendly interfaces, easy account management, and lower entry barriers in terms of minimum investment requirements. Furthermore, the integration of artificial intelligence (AI) and machine learning (ML) in investment management has enabled more personalized and optimized investment strategies, enhancing the appeal of mutual funds. These technological advancements have streamlined the investment process as well as provided educational resources, thereby attracting a tech-savvy generation of investors and those new to financial markets.

Evolving regulatory landscape

The evolving regulatory landscape plays a crucial role in shaping the industry. Regulatory bodies worldwide have been focusing on increasing transparency, improving investor protection, and ensuring the stability of financial markets. These efforts include the implementation of stringent disclosure requirements, the promotion of fair valuation practices, and the enforcement of fiduciary responsibilities of fund managers. Such regulations aim to build investor confidence by ensuring that mutual funds operate in a fair, transparent, and accountable manner. Moreover, some regions have introduced tax incentives for mutual fund investments, further stimulating market growth.

Mutual Fund Assets Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on fund type, investor type, and distribution channel.

Breakup by Fund Type:

• Equity Funds
• Bond Funds
• Money Market Funds
• Hybrid and Other Funds
  

Equity funds account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the fund type. This includes equity funds, bond funds, money market funds, and hybrid and other funds. According to the report, equity funds represented the largest segment.

Equity funds represent the leading fund type segment primarily due to their potential for higher returns over the long term. Despite the associated risks and market volatility, equity funds attract a broad spectrum of investors, from individuals seeking growth to institutional investors looking to maximize returns. Equity funds have gained traction due to historical performance, where equities have outperformed other asset classes over long periods. Additionally, with the increasing accessibility of global markets, equity funds offer diverse international exposure, allowing investors to benefit from growth in various economies. The popularity of these funds is also driven by their adaptability to cater to various investment strategies, from aggressive growth to value-oriented approaches, making them a versatile choice for many investors.

Bond funds are focused on investing in bonds and other debt

During periods of rising policy rates, the performance of private credit investments appears to outperform other asset classes. During the latest Fed funds rates hikes between the end of 2021 and the second half of 2023, private credit investments returns were as high as 14 percent. Private credit investments usually feature floating interest rates. This can boost returns when interest rates rise, but may lower potential returns when rates fall.

This longitudinal survey was designed to add significantly to the amount of detailed information available on the economic situation of households and persons in the United States. These data examine the level of economic well-being of the population and also provide information on how economic situations relate to the demographic and social characteristics of individuals. There are three basic elements contained in the survey. The first is a control card that records basic social and demographic characteristics for each person in a household, as well as changes in such characteristics over the course of the interviewing period. The second element is the core portion of the questionnaire, with questions repeated at each interview on labor force activity, types and amounts of income, participation in various cash and noncash benefit programs, attendance in postsecondary schools, private health insurance coverage, public or subsidized rental housing, low-income energy assistance, and school breakfast and lunch participation. The third element consists of topical modules which are series of supplemental questions asked during selected household visits. No topical modules were created for the first or second waves. The Wave III Rectangular Core and Topical Module File offers both the core data and additional data on (1) education and work history and (2) health and disability. In the areas of education and work history, data are supplied on the highest level of schooling attained, courses or programs studied in high school and after high school, whether the respondent received job training, and if so, for how long and under what program (e.g., CETA or WIN). Other items pertain to the respondent's general job history and include a description of selected previous jobs, duration of jobs, and reasons for periods spent not working. Health and disability variables present information on the general condition of the respondent's health, functional limitations, work disability, and the need for personal assistance. Data are also provided on hospital stays or periods of illness, health facilities used, and whether health insurance plans (private or Medicare) were available. Respondents whose children had physical, mental, or emotional problems were questioned about the causes of the problems and whether the children attended regular schools. The Wave IV Rectangular Core and Topical Module file contains both the core data and sets of questions exploring the subjects of (1) assets and liabilities, (2) retirement and pension coverage, and (3) housing costs, conditions, and energy usage. Some of the major assets for which data are provided are savings accounts, stocks, mutual funds, bonds, Keogh and IRA accounts, home equity, life insurance, rental property, and motor vehicles. Data on unsecured liabilities such as loans, credit cards, and medical bills also are included. Retirement and pension information covers such items as when respondents expect to stop working, whether they will receive retirement benefits, whether their employers have retirement plans, if so whether they are eligible, and how much they expect to receive per year from these plans. In the category of housing costs, conditions, and energy usage, variables pertain to mortgage payments, real estate taxes, fire insurance, principal owed, when the mortgage was obtained, interest rates, rent, type of fuel used, heating facilities, appliances, and vehicles. The Wave V topical modules explore the subject areas of (1) child care, (2) welfare history and child support, (3) reasons for not working/reservation wage, and (4) support for nonhousehold members/work-related expenses. Data on child care include items on child care arrangements such as who provides the care, the number of hours of care per week, where the care is provided, and the cost. Questions in the areas of welfare history and child support focus on receipt of aid from specific welfare programs and child support agreements and their fulfillment. The reasons for not working/reservation wage module presents data on why persons are not in the labor force and the conditions under which they might join the labor force. Additional variables cover job search activities, pay rate required, and reason for refusal of a job offer. The set of questions dealin

Graph and download economic data for Share of Net Worth Held by the Top 1% (99th to 100th Wealth Percentiles) (WFRBST01134) from Q3 1989 to Q3 2024 about net worth, wealth, percentile, Net, and USA.

Multifamily residential real estate comprised more than one-third of the capital allocated to commercial real estate in the United States in 2024. Despite the U.S. commercial real estate investment market cooling, multifamily investment grew in 2024, resulting in an increase in the market share. Offices also saw a rising market share, while industrial, retail, and hotels saw a decline.

By 2030, the middle-class population in Asia-Pacific is expected to increase from 1.38 billion people in 2015 to 3.49 billion people. In comparison, the middle-class population of sub-Saharan Africa is expected to increase from 114 million in 2015 to 212 million in 2030.

Worldwide wealth

While the middle-class has been on the rise, there is still a huge disparity in global wealth and income. The United States had the highest number of individuals belonging to the top one percent of wealth holders, and the value of global wealth is only expected to increase over the coming years. Around 57 percent of the world’s population had assets valued at less than 10,000 U.S. dollars; while less than one percent had assets of more than million U.S. dollars. Asia had the highest percentage of investable assets in the world in 2018, whereas Oceania had the highest percent of non-investable assets.

The middle-class

The middle class is the group of people whose income falls in the middle of the scale. China accounted for over half of the global population for middle-class wealth in 2017. In the United States, the debate about the middle class “disappearing” has been a popular topic due to the increase in wealth to the top billionaires in the nation. Due to this, there have been arguments to increase taxes on the rich to help support the middle-class.