ADV Ratings has released its list of the world's biggest asset managers in 2019. The top 20 firms on the list have combined assets under management of $44.9 trillion. Twelve of these asset managers are located in the U.S., three in France and two each in Switzerland and Germany. Other countries on the extended list include Canada, Italy, Japan and the Netherlands. Have a look at this year's global top 20 asset managers, with their assets under management as of March 31 (with exceptions noted). READ MORE: These 16 TDF managers are investing big bucks in their own cooking Risk exposure: Does your plan still offer company stock as an investment option?  3 takeaways on trends in advisor investing