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Laxman Pai, Opalesque Asia:

The European asset management industry's assets under management (AUM) are expected to reach EUR33tn ($34tn) by the end of 2024, said a study.

According to the European Fund and Asset Management Association's (EFAMA ) 16th edition of its report, Asset Management in Europe, AUM in Europe grew by 8.3% in 2023, driven by rising stock and bond valuations throughout the year.

"With stock markets maintaining their upward trajectory in 2024, we estimate that AuM in Europe reached a new record of EUR 32.7 trillion ($34.37tn) at the end of September 2024," it said.

EFAMA said European asset management activity is concentrated in six countries, which are responsible for nearly 85% of the asset management activity that takes place in Europe. The United Kingdom is the largest asset management market, followed by France, Switzerland, Germany, the Netherlands and Italy.

Meanwhile, asset managers held around EUR 6.6 trillion in EU-issued debt securities and EUR 3 trillion in EU-issued listed shares at the end of 2023. This represented 28% of all debt securities and 27% of listed shares issued by EU-resident companies and other issuers.

The share of retail clients in total AuM rose from 26% in 2019 to 30.8% at the end of 2023. This growth reflects a growing interest among European retail investors in capital market investments. Exchange-traded funds (ETFs) have emerged as a preferred investment vehicle, particularly for house......................

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