This is the fifth annual report undertaken by EFAMA with the collaboration of its members. The Report represents an effort to provide a snapshot of the European asset management industry across both the retail and institutional landscape. Its focus is on the value of assets professionally managed in Europe, rather than on the domiciliation of assets, and with a distinction between investment funds and discretionary mandates assets.

The report is primarily based on responses to a questionnaire sent to EFAMA member associations covering data at end 2010. The questionnaire methodology has focused around the coverage of data on assets under management (AuM) split by products, clients and assets types. Twelve associations provided us with data on the value of the assets managed in their countries: Austria, Belgium, Bulgaria, France, Germany, Greece, Hungary, Italy, Netherlands, Portugal, Turkey and the UK. According to our estimations, these countries account for 76% of the AuM in Europe. To compensate for those associations unable to answer the questionnaire or those who can only provide partial information, additional internal and external data were used to estimate the value of total AuM in Europe presented in the next section.

The purpose of section 2 is to provide an overview of the European asset management industry in terms of its size and importance in the European economy. Thereafter, section 3 discusses European asset management in terms of products offered and delegation of asset management. In section 4, the report continues by providing an overview of the industry’s clients, while section 5 focuses on the asset allocation of European asset managers. Section 6 looks at the contribution of euro area investment funds in particular and European asset managers in general to the financing of the euro area economy. Finally, section 7 presents a first estimation of the AuM for 2011.