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B. G., Opalesque Geneva:

The European Fund and Asset Management Association (EFAMA) has published its first report entitled "Ownership of Investment Funds in Europe". The research found that investment fund ownership grew by 150% during the 2008-2017 period to €11.7tn, mostly held by insurance companies and pension funds (42%), households, and other financial intermediaries.

The report focuses on the evolution of holdings of financial assets and investment funds, who the main owners of investment funds are, and the holdings of cross-border investment funds.

Trends in ownership of investment funds

The total amount of investment funds held by European investors amounted to €11,666bn at end 2017, according to the report. Investment fund ownership in Europe grew by 150% during the 2008-2017 period.

The three main categories of investors - insurance companies and pension funds (ICPFs), households, and other financial intermediaries (OFIs) - held a total of €10,518bn - so 90% of total investment fund assets.

According to the report, ICPFs remained the largest holders of investment funds in 2017 with a combined share of 41.7%, compared to 32.5% in 2008. Households have seen their share in the pool of investment fund assets decrease from 32.3% in 2008 to 25% in 2017. However, since 2012, this share has remained stable. On the other hand, other financial intermediaries have increased steadily their holdings of investment funds since 2008.

Investment ......................

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