The world's 20 largest asset managers have combined assets under management of $49.1 trillion, according to the latest ranking by ADV Ratings. Thirteen firms on this elite list of global asset managers are located in the U.S., two each are in Switzerland, France and Germany, and one is in the U.K. Other countries represented on the extended list of 55 firms are Italy, Japan and the Netherlands.

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See the gallery for this year's global top 20 asset managers, with their assets under management as of June 30 (unless otherwise noted).

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Michael S. Fischer

Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.