|
|
The European Fund and Asset Management Association (EFAMA) has published EFAMA’s Fifth Annual Review Asset Management in Europe: Facts & Figures, using data as at end 2010. This review provides a snapshot of the industry looking at its overall size, general structure, asset allocation and client base. Peter de Proft, Director General of EFAMA, comments: “EFAMA’s Fifth Annual Review of the European Asset Management Industry provides an insight into the state of the European asset management industry“.
Asset management plays a key role in the financing of the European economy, thereby supporting economic growth. On the basis of data published by the European Central Bank and EFAMA’s calculations, European asset managers held 23 per cent of the debt securities issued by euro area sectors at end 2010, and 31 per cent of euro area companies’ total equity.
Asset management is highly concentrated in a limited number of countries. The top three countries -- the UK, France and Germany -- together accounted for 65 per cent of total AuM in Europe at end 2010.
Institutional investors, acting on behalf of millions of end consumers, represent the largest client category of the European asset management industry, accounting for 69 per cent of total AuM in Europe. Insurance companies and pension funds accounted for 42 per cent and 27 per cent of total AuM for institutional clients at end 2010, respectively.