Total assets under management of the 500 largest asset managers in the world hit $128trn at the end of 2023, representing a 12.5% uptick from the previous year, after AUM fell 13.7%, or $18trn, during 2022, revealed a study.

According to new research from WTW's Thinking Ahead Institute in conjunction with Pensions & Investments, 60.8% of that total AUM ($77.8 tril