EFAMA publishes 2022 industry Fact Book
Report highlights key developments in the European fund industry over the last ten years with a special focus on 2021
The Fact Book is our flagship publication. It provides in-depth analysis of trends in the European investment fund industry, including extensive statistics and information about products, asset classes and distribution across all markets. It also includes a complete overview of regulatory developments across 28 European countries.
For the first time, a digital version of the Fact Book is made freely available on the EFAMA website. An Excel-based statistical package, containing more than 50 tables with historical time series on net assets, net sales and number of UCITS and AIFs at the country level, is available for purchase.
Financial literacy is essential for making sound decisions when managing savings. If European citizens do not understand financial concepts such as risk diversification, compound interest and real rate of return, they won’t know where to start or what to ask should they wish to invest their savings. A lack of sufficient financial literacy in most European countries helps explain why the vast majority of households don’t directly invest any of their savings in the capital markets.
EFAMA's Investor Education Platform has now produced an animated brochure titled ‘Investing for a better future – 5 tips to do more with your savings’ to help get people started with investing. It has been translated into several European languages.
With European government no longer able to provide financial security to support citizens in later years, saving for retirement is key. Individuals need to save enough for retirement to ensure adequate income in old age.
EFAMA helps by raising awareness of the importance of saving for retirement and encouraging European authorities to further modernise relevant EU legislation. This includes strengthening competition in the occupational and personal pension markets, and fostering cross-border activities of pension providers and asset managers. Such legislation should seek to create economies of scale, to benefit savers.
EFAMA is a co-initiator of the European Retirement Week.
Building a Capital Markets Union (CMU) serving the needs of European citizens and businesses is as ambitious as it is essential: the effort will enable pensioners and savers to share in the upside of Europe’s economic recovery. In the process, European capital markets also become more efficient and better integrated. This long-term vision is key to financing European innovation and to supporting the transition towards a more sustainable economy.
Increasing retail investors’ participation in capital markets is an essential component for building an effective CMU. EFAMA relentlessly advocates for effective disclosure rules and consumer empowerment.
Asset managers unleash the vast potential of sustainable finance by channelling capital into ESG investments and engaging with investee companies to improve their sustainability profile and foster long-term prosperity.
To strengthen the asset managers' role in financing the green transition, EFAMA contributes to the development and implementation of the EU Sustainable Finance agenda. This includes initiatives to fight greenwashing, increase transparency, improve the flow of ESG data and integrate sustainability in corporate governance.
To remain competitive and at the forefront of innovation, Europe must be open to cross-border flows of knowledge, ideas, capital and investment. The benefit in doing so ultimately accrues to European citizens and businesses.
While Europe rightly strives for high regulatory standards, rules need to be well calibrated, so Europe can partake in global competition on a level playing field. EFAMA's policy work consistently advocates for a dynamic regulatory environment, which enables European financial markets to remain globally competitive.
For immediate release, Brussels - EFAMA welcomes the adoption by Council of its general approach to the AIFMD and UCITS reviews today. We commend the swift progress made by the French Presidency in this regard and its thorough approach to the review.
For immediate release
Brussels, 16 June 2022 - The European Fund and Asset Management Association (EFAMA) has today published its International Quarterly Statistical Release regarding the developments in the worldwide investment fund industry during the first quarter of 2022.
EFAMA welcomes the opportunity to respond to the EC’s targeted consultation on the functioning of the ESG rating market in the EU and on the consideration of ESG factors in credit ratings. Please note that our response covers, at the same time, ESG ratings and ESG data providers, as the demand for ESG “raw” data has been increasing at a steady pace. The use of ESG data has also rapidly shifted from a narrow set of investment products to being prolific across all investment products.
Brussels - The European Fund and Asset Management Association (EFAMA) has today published its European Quarterly Statistical Release for Q1 of 2022.
3 June 2022 - EFAMA, ICSA and MFA (the Associations) have read IOSCO’s Feedback Statement on “Market Data in the Secondary Equity Market” following the IOSCO consultation in 2021, and warmly welcome its conclusions.
The Associations would like to draw attention towards the executive summary in particular, where a number of valuable insights and recommendations are presented. For example, we fully support the statement below, though we would suggest an important addition:
Net sales of long-term UCITS turn negative for the first time since March 2020
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.
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 believes that the general assessment of the characteristics of automated financial advice tools is captured accurately.
The signatories share the following views:
• Securitisation is an important element of well-functioning financial markets. Prudently deployed and sensibly regulated, it can:
o act as a bridge between the banks’ financing and the capital markets;
o enable non-banks to diversify funding sources; and
o provide investors with high quality fixed income securities at attractive yields.
EFAMA is supportive of the general objectives of the PRIIP KID Regulation. We are however concerned about the very limited time that product manufacturers will have between the final technical rules (RTS) and essential guidelines being published and the deadline to produce Key Information Documents (KIDs) from 31 December 2016 onwards. Having provided extensive feedback throughout the ongoing Level-2 work, we seriously doubt there will be enough time for market participants to implement the final rules by the end of this year, as originally foreseen by the co-legislators.
EFAMA welcomes the opportunity to provide the views of the asset management industry to this challenging exercise of assessing the impacts of recent regulatory reforms in the area of financial services.
There are a number of general remarks that we would like to make by way of introduction.
Need for consistency and coordination
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.
Keynote speech by European Commissioner Mairead McGuinness at the 27th Investment Management Forum on 18 November 2021.