This article was first published in Paperjam on 2 April 2024.
The Efama trade group has several recommendations on how to build stronger capital markets in Europe, and help individual investors at the same time.
This article was first published in Paperjam on 2 April 2024.
The Efama trade group has several recommendations on how to build stronger capital markets in Europe, and help individual investors at the same time.
New rules for the AIFMD and UCITS Directive were published on 26 March 2024 in the Official Journal of the European Union, making them law. These investment frameworks are European success stories and an integral part of the Capital Markets Union (CMU).
EFAMA has today published its latest Monthly Statistical Release for January 2024.
Thomas Tilley, Senior Economist at EFAMA, commented on the January 2024 figures: “January 2024 saw a continuation of the same trends as in 2023 - strong net inflows into fixed-income funds and ETFs. In comparison, multi-asset and equity funds saw much more subdued, or even negative, demand.”
EFAMA has published its latest International Quarterly Statistical Release for Q4 2023.
Thomas Tilley, Senior Economist at EFAMA, commented on the Q4 2023 figures: “Worldwide money market funds (MMFs) saw record net inflows of almost EUR 1.4 trillion over 2023, with about EUR 1 trillion of these net inflows in the United States. Many US investors were attracted by the higher returns offered by MMFs compared to bank deposits.”
EFAMA has released its policy recommendations to unlock private investment in Europe
EFAMA’s publication lays out the asset management sector’s policy priorities for the next five years, building on the in-depth expertise of our members. This includes practical recommendations for keeping Europe competitive and developing deeper, more integrated and liquid capital markets in Europe.
The recommendations focus around four main objectives:
Today, EFAMA has published its European Quarterly Statistical Release for the fourth quarter of 2023, together with an overview of the full year 2023.
EFAMA research estimates that 40% of daily FX flows are at increased risk
EFAMA welcomes EIOPA’s consultation and the opportunity to share our views on EIOPA’s recommendations to develop an EU single market for personal pensions.
EFAMA supports the conclusions of EIOPA’s impact assessment:
• The standardization of key elements of a PEPP - as proposed by EIOPA in its advice - with space to accommodate the specificities of Member States, is the best policy option.
• It would be difficult to achieve full standardization via harmonization because this would require bringing all national regulations on PPPs to one level.
EFAMA fully supports the aim of eliminating tax abuse enshrined in the draft Anti-Tax Avoidance (ATA) Directive which the European Commission published on 28 January 2016. EFAMA is the representative association for the European investment management industry. EFAMA represents through its 26 member associations and 61 corporate members EUR 21 trillion in assets under management of which EUR 12.6 trillion managed by 56,000 investment funds at end 2015.
Importance of Responsible Investment
EFAMA welcomes the decision of the Commission to review the prospectus regime with the objective to make it easier and simpler for companies generally and in particular SMEs in Europe to access capital markets, to provide all types of issuers with further simplification and flexibity and to ensure adequate information for investors.
EFAMA welcomes the opportunity to respond to the European Commission’s Green Paper on retail financial services. Widening the opportunities for European citizens to save and invest will facilitate better outcomes both for savers and the wider European economy.
EFAMA fully shares the goals of a Single Market for retail financial services in the EU, i.e.:
1. Promoting an EU-wide market in retail financial services that can facilitate cross-border business and consumer choice.

Discover the 6 reasons why your organisation should become a member of EFAMA.
Our members enjoy significant benefits including the opportunity to shape the industry positions, get first-hand access to regulatory and political intelligence, engage with industry peers and policymakers, and take part in EFAMA events.
Our three membership categories cater to the wide range of organisations that make up and support the investment management industry in Europe.