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Laxman Pai, Opalesque Asia: The European asset management industry will likely establish a new high in assets under management at the end of the year, said the European Fund and Asset Management Association (EFAMA).
So far, the sector's assets faced some 11% drop in the first quarter of 2020 before rebounding 8.3% in Q2'20 at a total of €24.9 trillion, not far from the estimated €25.8 trillion AUM record set in 2019.
"Thanks to the positive news on the Covid-19 vaccine front, it is likely that the value of assets under management will reach another historical height by the end of 2020", comments Bernard Delbecque, senior director for economics and research at EFAMA.
The amount of assets managed within Europe has more than doubled in a decade, starting from EUR10.8 trillion in 2008 and going up to EUR23.1 trillion by the end of 2018, the industry body said.
Investment fund assets represented EUR 12,614 billion or 54.6% of total AUM at the end of 2018, steadily rising every year since 2011. The share of discretionary mandate assets stood at 45.4% of total AUM and amounted to EUR 10,482 billion.
At the end of 2018, more than 75% of European investment fund assets were managed in five countries: the UK (27%), France (18%), Germany 15%), Switzerland (9%), and the Netherlands (7%). AUM of discretionary mandates are even more concentrated, with 67% of assets being managed in the UK and France.
In a market mainly dominated by institutional investors, bond ...................... To view our full article Click here
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