EFAMA's latest edition of its 'Asset Management in Europe' report provides an in-depth analysis of recent trends, focusing on where investments funds and discretionary mandates are managed in Europe.
The asset management sector is a crucial one for the European economy, with a key role to play in financing the green transition:
- Total asset under management (AuM) in Europe grew to EUR 32.2 trillion by the end of 2021, although a 11.8% decline was seen in the first nine months of 2022, reflecting the sharp decline in financial markets following Russia’s invasion of Ukraine.
- European asset managers hold a significant amount of debt securities and listed equity issued in Europe, i.e., EUR 6,989 billion and EUR 6,648 billion, respectively.
- Between 2016 and 2021, global AuM in dedicated sustainable investing grew at a remarkable rate of 19% per year.The share of retail clients in total AuM increased to 28% in 2021, with 72% of AuM being managed on behalf of institutional investors.
This year’s report has several new features, including:
- a foreword by EFAMA’s President, Naïm Abou-Jaoudé
- an extensive section on the role of asset managers in promoting ESG, including in discretionary mandates
- concrete examples of how asset managers integrate ESG into sovereign debt analysis and support sustainable projects through green bond investments, including insights from abrdn, Allianz Global Investors, APG, AXA IM, BlackRock, Candriam, Generali Investments, Ostrum Asset Management, Ninety One, Nordea Asset Management, and Pictet Asset Management
- data on clients in both investment funds and discretionary mandates
- an analysis by McKinsey & Company on the future of sustainable investing
- a contribution by Cerulli Associates on how European insurers use third-party asset managers
