24 September 2018

EFAMA: Assets under Management in Europe rose to EUR 25 trillion in 2017

This year’s review highlights include:

• Total Assets under Management (AuM) in Europe increased by 10% in 2017 to EUR 25.2 trillion. In relation to GDP, the value of AuM is estimated to have reached 147% at end 2017, up from 102% in 2007.
• Investment funds assets managed in Europe represented EUR 13.1 trillion or 52% of total AuM at end 2017, with discretionary mandates accounting for the remaining EUR 12 trillion or 48%. Asset managers typically receive mandates from institutional clients, whereas retail investors are generally offered investment funds.
• Institutional investors represent the largest client category of the European asset management industry, accounting for 71% of total AuM at end 2016.  Pension funds and insurance companies accounted for 28% and 25% of total AuM, respectively.
• Bond assets accounted for 41% of total AuM at end 2016, compared to 31% for equity assets.  The share of equity held in discretionary mandates fell from 35% in 2007 to 24% in 2016.   This development contrasts with the evolution of the share of equity held in investment fund portfolio, which returned in 2016 to its level of 2007 (40%). 
• Three countries hold a significant market share in assets under management in Europe: the UK (35%), France (17%) and Germany (9%).  These high market shares reflect the size of these countries’ economies, their experience in financial services as well as their pool of savings accumulated over the years.
• Close to 4,200 asset management companies are operating in Europe.  It can be estimated that these companies employ about 110,000 people.  Taking into account related services along the asset management value chain, it is estimated that another 500,000 people are indirectly employed in functions servicing the asset management industry.

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