Our industry in numbers
There are more than 4,500 asset management companies operating in Europe, with around 115,000 employed directly in the industry.
Asset managers typically manage investment funds (UCITS and AIFs) and discretionary mandates. In general, asset managers receive mandates from institutional clients, whereas retail investors are usually offered investment funds. Total assets under management have increased steadily over the years and in Q3 2021 amounted to 31 trillion (or 182% of European GDP) of which around 54.9% on behalf of investment funds and 45% in managing discretionary mandates.
Almost 85% of the asset management activity take place in six countries: the United Kingdom, France, Germany, Switzerland, Italy and the Netherlands.
Net assets of investment funds domiciled in Europe, UCITS and AIFs, totalled EUR 20.8 trillion at Q3 2021. Luxembourg and Ireland are the two largest domiciles of UCITS and AIFs, with a market share of 27% and 18%, respectively (2020). Germany, France and the United Kingdom follow in this ranking.
Total fund ownership in Europe amounted to EUR 15 trillion Q2 2021, compared to EUR 6.3 trillion in 2010. These amounts refer to the funds that are bought and held by investors in Europe, excluding the funds domiciled in Europe that are sold outside Europe.
Fund ownership can be broken down by main type of European investors. Insurers and pension funds are by far the largest investors in investment funds, followed by households and other financial intermediaries. The five countries with the highest level of fund ownership are Germany, the United Kingdom, France, the Netherlands and Italy.
The net assets managed by cross-border funds amounted to EUR 8.4 trillion in 2020, compared to EUR 9.1 trillion for domestic funds. The share of cross-border fund assets has increased since 2009, reaching 47% in 2020 compared to 41% in 2010.