The worldwide investment management industry managed $79.3 trillion in 2010. Pension assets accounted for $29.9 trillion, with $24.7 trillion invested in mutual funds and $24.6 trillion in insurance funds. Counting sovereign wealth funds, hedge funds, private equity funds, exchange traded funds and the funds of wealthy individuals, assets of the global fund management industry totaled about $117 trillion. The United States accounts for one-half of the total.
Several forces affect the investment management business. With 11 federal agencies writing rules pursuant to the Dodd-Frank regulation, firms in the United States are subject to major changes. The industry, moreover, is increasingly global and dependent upon ever faster trading technology.