EFAMA offers a detailed view on the active accounts proposal in this paper. Costs to the end investor are broken down into two main buckets i) operational build-out and ii) in nominal terms the much larger impact of loss of netting efficiencies. Potential impacts on financial stability are also examined, with a focus on the widening basis which will result from large volumes of one-directional flows onto an EU-CCP. The impact on margins and procyclicality are also studied. The analysis points to increased liquidity risk for
Asset Management in Europe
EFAMA's 17th edition of its ‘Asset Management in Europe’ report provides an in-depth analysis of recent trends in the European asset management industry.
Data on many different facets of the industry are covered, including:
- Total assets under management in Europe, covering investment funds and discretionary mandates
- The role of asset managers in Society and the Economy, including serving investors' needs and engaging with investee companies.
- Industry clients: at both European and country levels, including domestic and foreign clients.
- Asset allocation in Europe of investment funds and mandates, including ESG assets
- Industry organisation, such as market concentration, industry profitability and employment
