New report shows that European asset management shifted towards retail and foreign clients, passive investing, and equity markets
New report shows that European asset management shifted towards retail and foreign clients, passive investing, and equity markets
The European Fund and Asset Management Association (EFAMA) has today published its European Quarterly Statistical Release for the third quarter of 2025.
Today, EFAMA has published its latest Monthly Statistical Release for September 2025.
Yesterday, the European Commission released its proposal to adjust the Sustainable Finance Disclosure Regulation (SFDR), which addresses several persistent challenges and represents an important step towards a more coherent, effective and user-friendly EU sustainable finance framework.
Today, the European Commission unveiled its package on supplementary pensions, focusing on closing the pensions gap and enhancing retirement adequacy for Europe’s citizens. This initiative is a key component of the Savings and Investments Union, reflecting the European Commission's firm commitment to helping individuals build financial security for their retirement.
As we gather at the close of this Forum, one thing is clear: the conversations we have had over these two days are not just about today’s challenges—they are about shaping the future of European capital markets.
It has been a privilege to share these two days with such an engaged and insightful group. Thank you for your active participation and the energy you brought to every discussion.
Good afternoon, ladies and gentlemen
It is a great pleasure, and a true privilege, to welcome you to the 31st edition of the EFAMA Investment Management Forum, my first as President.
As the voice of European asset management industry, EFAMA strongly welcomes the development of
the EU Taxonomy and its technical screening criteria. We see the Taxonomy as a critical tool to
unleashing the potential of sustainable finance in Europe by assisting issuers, project promoters,
companies, investors, and other financial market participants in identifying truly sustainable economic
activities. We wish to put forward recommendations that aim to improve the usability and integrity of this
framework.
The fund and asset management industry is a highly regulated industry operating under significant and specific legal, regulatory, transfer pricing and tax frameworks.
Pillar 1: Investment funds are structured as tax neutral investment pooling vehicles as a matter of
public policy.
Pillar 2: The role that investment funds play in providing investors with a diversified portfolio and global market access is essential.
In its support of the development and implementation of the Taxonomy Regulation, EFAMA believes that reporting on the level of alignment with the Taxonomy by non-financial and financial undertakings is essential to strengthening market integrity around sustainability issues.
FIA, ISDA, AFME, ICI, AIMA, EBF and EFAMA (together the Associations) welcome the
European Commission's (the Commission) timely and temporary equivalence decision from
21 September 2020 with respect to UK central counterparties (CCPs) and subsequent
recognition decisions by ESMA of CCPs and the recent temporary equivalence decision for
UK Central Securities Depositories (CSDs) under CSDR. Together, these steps have provided
much needed certainty for continued and uninterrupted access to these CCPs and CSDs by
EFAMA has some concerns with ESMA’s clarifications. In the consultation paper (CP), ESMA seems to have a very broad interpretation of the ‘multilateral systems’ definition under MiFID II and states that ‘systems where trading interests can interact but where the execution of transactions is formally undertaken outside the system still qualify as a multilateral system and should be required to seek authorisation’ (paragraph 36).

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.