Metrics
Assets Under Management (AUM)
Total market value of client assets a manager oversees.
Assets Under Management (AUM) refers to the total value of all assets an investment manager looks after on behalf of clients. AUM is the asset-management industry's headline scale metric and, among other things, determines 13F filing obligations (threshold: $100 million in reportable US equities).
Important: the "Total Value" reported in a 13F is not necessarily the manager's full AUM — it captures only the value of reportable US long positions. For hedge funds that lean heavily on bonds, derivatives, shorts or foreign equities, the 13F figure can be many times smaller than real AUM.