Asset management, broadly defined, refers to any system that monitors and maintains things of value to an entity or group. It may apply to both tangible assets (such as buildings) and to intangible assets such as human capital, intellectual property, goodwill and/or financial assets). Asset management is a systematic process of developing, operating, maintaining, upgrading, and disposing of assets cost-effectively.
Source : Wikipedia
Here are the world’s largest Asset under management of these funds , with AUM over $5 trillion Blackrock inc. is at the helm followed by Vanguard group. Majoirty of these asset managers are U.S based.