The report aims to provide a unique and comprehensive set of facts and figures on the state of the asset management industry at the end of 2018 but also to highlight the fundamental role of asset managers in the financial system and wider economy.
Some of the key findings and observations include:
o Assets under Management (AuM) rose from EUR
10.8 trillion in 2008 to EUR 23.1 trillion at the end of 2018.
Asset allocation and clients of the industry
a market mainly dominated by institutional investors, bond assets accounted for
42% of investment portfolios, compared to 28% for equity assets and 6% for
money market and cash equivalents at the end of 2018. However, the share of
bonds and cash/money market instruments has been gradually declining in recent
years, in favour of alternative assets. Another important trend is the growing
share of passive management of long-term assets.
the end of 2018, pension funds became, for the first time, the largest industry
clients, with a market share of 29%, ahead of retail clients and insurance
Domestic clients are by
far the biggest group of clients of the European asset managers. Whereas their
share in total AuM reached 73% in 2018, domestic clients represent an even
higher share of AuM in most European countries.
Financing of the economy
o Asset managers in Europe held an estimated 25% of debt
securities and 30% of listed shares issued by euro area residents at the end of
2018. When using the free-float market capitalization, it is estimated that
they held 53% of the value of the overall listed shares issued by euro area
the end of 2018, the industry employed directly an estimated 115,000
individuals across Europe with 75,000 in the UK, France, and Germany alone. The
report estimates that an additional 525,000 individuals are indirectly employed
by the industry through related services such as fund distribution, advice and
of our ‘Asset Management in Europe’ report.
© EFAMA - European Fund and Asset Management Association
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