Assets under management at the largest 100 asset owners (AO100) globally totaled $23.5tn at the end of 2020 - a 16.4% increase over 2019, according to the Willis Towers Watson Thinking Ahead Institute (TAI), with pension funds remaining the single biggest group.

Pension funds held 58.1% of the total assets of the top 100. Sovereign wealth funds held 34.7% of globa