Boston, Massachusetts is home to some of the most prestigious investment management firms in the world. As one of the top financial hubs in the United States, Boston offers a prime location and robust talent pool for asset managers. In this article, we will explore major investment firms headquartered in Boston, providing an overview of their business focus, assets under management, and key information for those interested in a career in investment management. With trillions of dollars in assets, these Boston-based firms manage money for institutional and retail clients across traditional and alternative strategies. Understanding the landscape of investment firms in Boston can help provide direction for students and professionals looking to break into the industry.
State Street Corporation operates as one of the oldest asset managers in Boston
State Street Corporation is headquartered in Boston and traces its origins back over 200 years. The company has extensive operations in investment management, investment research, and financial services. With $31.6 trillion in assets under custody and administration, State Street works primarily with institutional investors. The firm offers a range of investment strategies across equity, fixed income, liquidity, alternatives, and multi-asset solutions. State Street has faced scrutiny for overcharging clients through indirect fees. However, the firm remains one of the largest asset managers globally. For those looking to begin a career in investment management in Boston, State Street can provide opportunities to gain experience at a prestigious firm managing enormous asset pools.
Fidelity Investments operates as a private company out of Boston focused on the retail market
Fidelity Investments is another one of the major privately held investment managers headquartered in Boston. With its roots tracing back to the 1940s, Fidelity remains a family-controlled company. The firm manages over $11 trillion in assets under administration for more than 40 million individuals. Fidelity is best known for its mutual funds offerings and retirement services targeted towards retail investors. The firm covers all major asset classes and strategies, including equities, fixed income, money market funds, ETFs, options, futures, and more. For those interested in working directly with retail clients, Fidelity provides an array of career paths from financial advising to portfolio management.
Putnam Investments targets institutional and high net worth investors
Putnam Investments is another stalwart Boston-based investment management firm. Founded in 1937, Putnam manages over $200 billion in assets across mutual funds, institutional portfolios, and separately managed accounts. Putnam focuses primarily on active equity and fixed income strategies. The firm targets institutional investors, financial advisors, and high-net-worth individuals. Putnam offers traditional long-only strategies as well as absolute return and alternative approaches. Professionals interested in researching and analyzing securities may find solid career options at Putnam.
Wellington Management runs hedge funds and other alternative investment strategies
Wellington Management operates as one of the oldest independent investment management firms in Boston. Tracing its history back to 1928, the firm manages over $1.4 trillion in client assets. Wellington focuses on active management across equities, fixed income, multi-asset, and alternative strategies. The firm runs hedge funds and other alternative approaches targeted at pension funds, endowments, foundations, and family offices. Wellington relies on intensive fundamental research with a long-term perspective. The firm hires PhDs and research-focused professionals to support its alpha generation goals.
Grantham, Mayo & van Otterloo takes a value investing approach
Grantham, Mayo & van Otterloo (GMO) provides another Boston-based investment management firm option. GMO adheres to a value investing philosophy coupled with quantitative analysis. The firm manages $66 billion in client assets across equities, fixed income, multi-asset class, and alternative strategies. GMO’s client base includes pension funds, endowments, foundations, and family offices seeking active managers. The firm focuses heavily on research to identify pricing anomalies and inefficiencies across global markets. For investment professionals interested in value investing and macroeconomic analysis, GMO represents a potential fit.
Boston hosts some of the most prestigious investment firms globally managing trillions in assets across institutional and retail clients. From historic firms like State Street to value-focused Grantham, Mayo & van Otterloo, Boston provides opportunities for students and professionals to begin an investment management career at an established asset manager.