EFAMA has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS and AIFs for April 2023, at European level and by country of fund domiciliation.
EFAMA has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS and AIFs for April 2023, at European level and by country of fund domiciliation.
EU asset managers, banks and brokers are today urging policy makers not to concede to pressure which will lead to suboptimal outcomes in the review of the Markets in Financial Instruments Directive (MiFID/R).
On the occasion of its annual general meeting held on Friday 16 June in Amsterdam, Sandro Pierri, CEO of BNP Paribas Asset Management, was elected as EFAMA’s President for a two-year term, running until June 2025. Sandro Pierri has been the CEO of BNP Paribas Asset Management since 2021. He has over 30 years of experience in various leadership roles within the asset management industry, including as former CEO of Pioneer Investments.
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
EFAMA's Annual Review highlights our key achievements over the past 12 months and provides a useful overview of the main topics we cover.
EFAMA has today published its International Quarterly Statistical Release regarding the developments in the worldwide investment fund industry during the first quarter of 2023.
Today, the European Commission has released their proposal for a regulation on ESG ratings and data providers.
EFAMA has today published its 2023 industry Fact Book, which provides an in-depth analysis of trends in the European fund industry, with an emphasis on what happened in 2022.
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.
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.

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.