The European Fund and Asset Management Association (EFAMA) has published its Sixth Annual Review of the Asset Management industry in Europe. The report focuses on the value of assets professionally managed in Europe, with a distinction between investment funds and discretionary mandate assets, across both the retail and institutional landscape.
This year’s review highlights include:
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Assets under Management (AuM) in Europe stood at EUR 13.8 trillion at end 2011. We estimate that total AuM increased in 2012 to EUR 15.4 trillion, or 108% in relation to GDP.
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Europe ranks as the second largest market in the global asset management industry, managing 31% of global AuM.
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Discretionary mandate assets represented EUR 7.3 trillion or 53% of AuM at end 2011, whereas investment funds accounted for the remaining EUR 6.5 trillion. Holdings of bond and equity assets remain asset managers preferred asset classes at end 2011, with 46% and 29% of total AuM, respectively.
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More than 3,200 asset management companies are registered in Europe employing about 90,000 people directly and over 500,000 indirectly at end 2011.
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Institutional investors, acting on behalf of millions of households, represent the largest client category of the European asset management industry, accounting for 75% of total AuM in Europe. Insurance companies and pension funds accounted for 42% and 33% of total AuM for institutional clients at end 2011, respectively.
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European asset managers held 21% of the debt securities issued by euro area sectors at end 2011, and 31% of euro area companies’ total equity. These figures highlight the role played by asset managers in the financing of Europe’s economy.
Peter De Proft, Director General of EFAMA, comments:
“EFAMA’s Sixth Annual Review of Asset Management in Europe outlines the contribution of the industry to the financing of the European economy through its important role in managing savings on behalf of retail and institutional investors. This year, we have also included quotes from industry leaders outlining their take on where the industry stands today.”
The sixth Annual Review of the Asset Management industry in Europe
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