Supervisory colleges risk adding complexity without significant improvements
To remain competitive and at the forefront of innovation, Europe must be open to cross-border flows of knowledge, ideas, capital and investment. The benefit in doing so ultimately accrues to European citizens and businesses.
Europe rightly strives for high regulatory standards. That said, EFAMA strongly believes our rules need to be well calibrated, so Europe can partake in global competition on a level playing field. Our policy work consistently advocates for a dynamic regulatory environment, which enables European financial markets to remain globally competitive.
Supervisory colleges risk adding complexity without significant improvements
EFAMA’s publication lays out the asset management sector’s policy priorities for the next five years, building on the in-depth expertise of our members. This includes practical recommendations for keeping Europe competitive and developing deeper, more integrated and liquid capital markets in Europe.
The recommendations focus around four main objectives:
Today’s communication of the European Commission, “Savings and Investments Union – a Strategy to Foster Citizens Wealth and Economic Competitiveness in the EU” is a major step towards finally developing deeper, more integrated capital markets that the European Union absolutely needs. Achieving the goals of the SIU will help improve citizens’ financial well-being, meet the financing needs of EU companies and improve their competitiveness.
Today, the European Fund and Asset Management Association (EFAMA) published the 20th issue of its Market Insights series, titled “Beyond fund consolidation: a more promising strategy for bigger funds and faster cost declines in Europe”. This publication compares the size and number of equity UCITS with that of US equity mutual funds and challenges the commonly held belief that fund consolidation will significantly lower the cost of funds in Europe.
This is the fifth annual report undertaken by EFAMA with the collaboration of its members. The Report represents an effort to provide a snapshot of the European asset management industry across both the retail and institutional landscape. Its focus is on the value of assets professionally managed in Europe, rather than on the domiciliation of assets, and with a distinction between investment funds and discretionary mandates assets.