// definition
AUM
Assets under management
Short definition
Assets managed or advised under the manager’s disclosed scope and valuation method. The fee-generating base can differ from total AUM. Managing a portfolio and legally owning its assets confer different rights.
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Knowledge map
Related analyses
Primary sources
- Apollo, 2025 annual reportAUM, FRE and SRE definitions and adjusted-measure reconciliations.
- Brookfield Asset Management, 2025 annual reportFRE definition and changes in AEL mandate fee revenue.