The European Fund and Asset Management Association (EFAMA) has published the 17th edition of its Asset Management in Europe report, which provides in-depth analysis of recent trends in the European asset management industry.
Key findings of the report include:
European assets under management (AuM) grew almost 12% in 2024 - AuM reached a record EUR 33 trillion in 2024, driven mainly by strong equity market performance, while bond price growth was more muted. EFAMA estimates that AuM in Europe reached EUR 34.4 trillion at the end of September 2025.
Assets were highly concentrated in six European countries - 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 hub, followed by France, Switzerland, Germany, the Netherlands and Italy.
Fund assets expanded more than mandates - From about half of total AuM in 2014, investment funds' share has risen steadily over the past decade, driven by their higher equity exposure versus discretionary mandates and broadly rising global stock markets. In 2024, this pattern continued: equity markets posted strong gains while bond prices showed minimal growth.
Asset managers played a significant role in financing the European economy ......................