Market Insights

EFAMA’s Market Insights series analyses recent industry trends and developments based on the latest available data and presents our findings in the context of current policy perspectives. We publish numerous concise reports each year covering diverse topics such as competitiveness, ETFs, AIFs, SFDR, the impact of inflation on retail investors, sustainable bond funds, UCITS costs and performance, ESG fund markets, and money market funds.

 

 

 

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Industry Perspective Issue #1 | The rise of active ETFs in Europe - A short overview
EFAMA is pleased to launch the first edition of its new Industry Perspective research series, entitled “The rise of active ETFs in Europe – A short overview”. This publication gives a brief summary of…
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Issue #21 | The SFDR fund market – Latest market trends and the upcoming SFDR review
This is the third Market Insights focusing on the Sustainable Finance Disclosure Regulation (SFDR) Article 8 and Article 9 fund markets. It examines recent trends focusing on 2024, which was marked by…
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Issue #20 | 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…
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Issue #19 | The sectoral performance of active and passive UCITS
This latest issue compares the net performance of different categories of equity UCITS funds over the last ten years (2014-2023).
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Issue #18 | Sustainable Equity UCITS - Promoting sustainable business models
This report looks specifically at the evolving trends of the equity asset class of sustainable UCITS, whose share is the highest (53%) in total sustainable UCITS funds. It highlights their role as…
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Issue #17 | The EU must adopt a new deal to mobilize EU savings
Several factors can explain the lower home bias among European investors, including their views on the benefits of cross-border investments, the role of financial advisers, the development of fund…
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Issue #16 | Investment Fund Distribution Channels in Europe
This report provides an analysis of how investment funds are distributed to retail investors across 19 European countries, covering assets totalling EUR 4.4 trillion. Fund managers who participated in…
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Issue #15 | The cost of UCITS available to retail investors
EFAMA’s latest research shows the average product cost of active and passive equity UCITS available to retail investors fell to 1.04% and 0.27% respectively in 2022. This report delves deep into the…
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Issue # 14 | The AIF Market - an overview
This issue sheds light on the Alternative Investment Fund (AIF) market in Europe, compar ing its recent evolution with that of UCITS and div ing into country-level figures. It also highlight s the…
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Issue #13 | UCITS ETFs: A growing market in volatile times
“ UCITS ETFs: A growing market in volatile times” highlights some of the main European ETF market trends and important differences between ETFs and other exchange traded products (ETPs). Drawing…
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Issue # 12 | Fluctuations in the SFDR fund market and policy recommendations for the future
This Market Insight s presents the latest trends in the Sustainable Finance Disclosure Regulation (SFDR) Article 8 and Article 9 fund markets. It looks at developments since the onset of SFDR in early…
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Issue #11 | ESG Ratings of Article 8 and 9 Funds
In which EFAMA assesses the current market and policy recommandations for the future. This research was motivated by the development of the market for ESG ratings against the backdrop of a growing…
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Issue #10 | Call for action to protect retail investors against inflation, Market Insights
In this issue of EFAMA's Market Insights series titled ‘ Call for action to protect retail investors against inflation', we highlight an undeniable reality: inflation has a very damaging effect on…
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Issue #9 | Sustainable UCITS Bond Funds for a Better Future
This report highlights the strong demand for UCITS bond funds that apply ESG strategies in their portfolio selection, confirming the growing interest of investors for ESG products.
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Issue #8 | The costs of UCITS and US mutual funds - We can only compare like with like
It is often argued that European citizens are not able to fully benefit from the single market for investment funds, on the basis that the cost of UCITS is higher than the cost of mutual funds in the…
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Issue #7 | The European ESG market in Q1 2021 – Introducing the SFDR
The EU’s Sustainable Finance Disclosure Regulation (SFDR), introduced in March 2021, put in place a set of sustainability-related disclosure obligations for financial market participants, including…
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Issue #6 | Perspective on the cost of UCITS
In Issue # 6, we deep dive into the costs of UCITS, focusing specifically on the fees charged by the various operators along the investment fund value chain. In this context, we distinguish between…
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Issue #5 | Perspective on the net performance of UCITS
Issue # 5 of our Market Insights series "Perspective on the net performance of UCITS" was developed using data available in the latest ESMA’s Annual Statistical Report to put ESMA’s comments on the…
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Issue #4 | ESG Investing in the UCITS Market - A powerful and inexorable trend
The report looks at the major trends in the ESG UCITS market,the impact of the coronavirus pandemic, and the behaviour of ESG and non-ESG funds.
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Issue #3 | Sustainable Investment in the European Asset Management Industry - Defining & Sizing ESG Strategies
For Issue #3, EFAMA collaborated with its member associations and strategy consultants at INDEFI to estimate the level and nature of ESG investment by European asset managers at the end of 2019…
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Issue #2 | Money Market Funds in Europe - State of Play
European money market funds have resisted well to the Covid-19 crisis, confirming the effectiveness of the Money Market Fund Regulation in providing investors with a safe vehicle for managing their…
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Issue #1 | Net outflows from UCITS in March 2020 - Industry remains resilient in face of Covid-19 crisis
This first issue puts into perspective the net outflows from UCITS in March 2020, in particular by comparing them with those recorded at the height of the Global Financial Crisis in October 2008. We…
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