This is the 16th edition of our ‘Asset Management in Europe’ report. The report provides an in-depth analysis of recent trends in the European asset management industry.
Some of the main findings include:
As the European Parliament adopted its position and the Council reached its General Approach, the Association for Financial Markets in Europe (AFME), the European Association of Co-operative Banks (EACB), the European Banking Federation (EBF), the European Fund and Asset Management Association (EFAMA), the European Savings and Retail Banking Group (ESBG), and Insurance Europe call on the co-legislators to deliver on commitments to boost European competitiveness and to avoid concluding the Financial Data Access (FiDA) Regulation before a thorough a
EFAMA has today published its European Quarterly Statistical Release for Q3 of 2024.
Thomas Tilley, Senior Economist at EFAMA, commented: “Net inflows into long-term funds slowed during the third quarter of 2024, while money market funds attracted strong net sales. In times of market volatility, MMFs often serve as a ‘safe haven’ investment option for investors.”
The EU Securitisation Regulation, which aimed to enhance transparency and strengthen trust, is undergoing a very timely review. EFAMA supports the European Commission’s initiative to engage stakeholders in shaping key improvements to this critical framework.
EFAMA has published its latest Monthly Statistical Release for September 2024.
The undersigned associations welcome the new European Commission’s objectives to boost the EU’s competitiveness, focus on the enforcement of existing legislation and simplify regulatory frameworks. We appreciate that this was also echoed by the Commissioner-Designate Maria Luis Albuquerque during her confirmation hearing in the European Parliament.
European Commission must ensure they don’t hinder much-needed EU investment
Following recent market disruptions such as the COVID-19 pandemic and the UK gilt market crisis, the European Commission is reviewing the adequacy of macroprudential policies for non-bank financial intermediation (NBFI). In July 2024, they launched a consultation to determine whether the EU should repurpose specific micro-prudential instruments or introduce new macroprudential requirements.
In its response to the Commission’s consultation on assessing the adequacy of macroprudential policies for NBFI, EFAMA stresses that Europe needs more holistic and rigorous analyses to determine where financial stability risks lie. Unfortunately, even though investment funds have proven resilient in recent years despite frequent market disruptions, the consultation focuses on the asset management industry.
EFAMA publishes its latest Monthly Statistical Release for August 2024.
Hailin Yang, Data Analyst at EFAMA, comments: “In August, the market environment remained positive, with all UCITS categories except multi-asset funds showing positive net sales. Money market funds registered the highest net sales, but also ETFs continued to draw solid net inflows.”
The main developments in August can be summarised as follows:
EFAMA responded to ESMA’s consultations on regulatory technical standards and guidelines, which aim to provide EU asset managers with further details on a broad and harmonised list of liquidity management tools (LMTs). As part of the recent AIFMD and UCITS review, these improvements will support our industry’s response to liquidity pressures, both in normal and stressed market conditions, while also protecting the interests of investors.
European asset managers welcome the joint statement from the European Commission, ESMA and the ECB putting a firm foot forward, and ‘accelerating the technical work’ needed to prepare the EU’s T1 transition
The European T+1 Industry Task Force, comprising 21 trade associations involved in European capital markets, was established in 2023 to bring together a diverse group of industry stakeholders who would be impacted by a move to a default T+1 settlement cycle for securities traded and settled in the EU.
