This years review highlights include:

Assets under Management (AuM) in Europe stood at EUR 13.8 trillion at end 2011. We estimate that total AuM increased in 2012 to EUR 15.4 trillion, or 108% in relation to GDP.

Europe ranks as the second largest market in the global asset management industry, managing 31% of global AuM.

Discretionary mandate assets represented EUR 7.3 trillion or 53% of AuM at end 2011, whereas investment funds accounted for the remaining EUR 6.5 trillion. Holdings of bond and equity assets remained asset managers preferred asset classes at end 2011, with 46% and 29% of total AuM, respectively.

More than 3,200 asset management companies are registered in Europe employing about 90,000 people directly and over 500,000 indirectly at end 2011.

Institutional investors, acting on behalf of millions of households, represent the largest client category of the European asset management industry, accounting for 75% of total AuM in Europe. Insurance companies and pension funds accounted for 42% and 33% of total AuM for institutional clients at end 2011, respectively.

European asset managers held 21% of the debt securities issued by euro area sectors at end 2011, and 31% of euro area companies total equity. These figures highlight the role played by asset managers in the financing of Europes economy.

Peter De Proft, Director General of EFAMA, comments:

EFAMAs Sixth Annual Review of Asset Management in Europe outlines the contribution of the industry to the financing of the European economy through its important role in managing savings on behalf of retail and institutional investors. This year, we have also included quotes from industry leaders outlining their take on where the industry stands today.

- Ends

** Please see the accompanying attachment for the EFAMA Asset Management Report**

For media enquiries, please contact:

Peter De Proft, Director General, or Bernard Delbecque, Director of Economics and Research
Telephone: +32 (0) 2 513 39 69; E-mail: info@efama.org

Notes to editors:

About the European Fund and Asset Management Association (EFAMA)

EFAMA is the representative association for the European investment management industry. EFAMA represents through its 27 member associations and 60 corporate members about EUR 15 trillion in assets under management of which EUR 9.4 trillion managed by over 54,000 investment funds at end March 2013. Just over 35,500 of these funds were UCITS (Undertakings for Collective Investments in Transferable Securities) funds. For more information about EFAMA, please visit www.efama.org.