CACEIS NEWS 41 EN
8 caceis news - No. 41 - March 2015 Worldwide Source: EFAMA - January 2015
Country Focus- France
Europe
Source: EFAMA - February 2015
Luxembourg focus in the next CACEIS news
Total assets under management (AUM) in France (€ billion)
Worldwide Investment Fund Assets Q3 2014 (€ trillion)
Net asset of the European Fund industry Q4 2014
€3.22tr +3.5% /Q4 2013
+6.2% /Q2 2014
The combined assets of the investment fund market in Europe, i.e. the market for UCITS and non-UCITS increased 2.6% during the fourth quarter to stand at €11.341 billion at end December 2014. Overall in 2014, net assets of total investment fund industry increased 15.7%. €11.34tr +2.6% /Q3 2014
€27.24tr
3,227 +3.5%
3,118 +3.1%
3,023 +9.2%
2,917 +4.2% 2,768 -5.1%
Investment fund assets worldwide increased 6.2%to €27.24 trillion at the end of the third quarter of 2014.
2,800 +11.6%
2,779 +4.6%
1,541 1,583
2,658 +12.9%
1,507
1,384 2,509 -9.7%
1,514
1,523
2,354 +12.8%
1,594
1,387
2012
2013
2014
1,544
Total assets under management in
1,329
discretionary mandates and investment funds in France rose 3.5% in 2014. The increase was due to aggregate gains of 4.2% for foreign funds and mandates managed in France and 2.7% for French funds.
Trends by investment type Q3 2014 (€ trillion) Equity fund assets worldwide increased 5.3% during the third quarter to €11.0 trillion. Net assets of balanced/mixed funds increased by 6.8% to stand at €3.2 trillion, whilst net assets of bond funds also rose 6.8% to stand at €6.0 trillion. Money market funds enjoyed growth in net assets of 8.8% during the quarter to stand at €3.5 trillion.
1,577 1,644
1,516
1,403
1,381
Top Ten
1,277
1,185
1,114
1,125
1,025
Ireland € 1.7 tr
Luxembourg € 3.0 tr
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
French funds
Mandates (inc. foreign funds)
Source: AMF and AFG for mandates
Germany € 1.6 tr
France € 1.6 tr
Market share by fund domiciliation in Europe
€11.0tr €6.0tr €3.5tr €3.2tr
+5,3%
Equity
14.3%
+6,8%
Bonds
Market share:
as of end of September 2014
Money Market
+8,8%
Switzerland € 415 bn
UK € 1.3 tr
27.2%
+6,8%
In terms of investment fund domiciliation, Luxembourg consolidated its leadership position in Europe with a 27.2% market share. France ranks third (14.3%), just behind fast-growing Ireland (14.5%) and followed by Germany (13.9%).
Balanced
14.5% 14.3% 13.9%
11.6%
12
2.2% 2.0%
Italy € 248 bn
10
Sweden € 252 bn
8
UK
Italy
Spain
France
Ireland
6
Germany
Luxembourg
4
€
2
Spain € 229 bn
Source : AFG/EFAMA/ICI
Denmark € 230bn
0
Q3
Q4
Q1
2014 Q2
Q3
2013
Market share of financial management of European investment funds
Net sales of Investment Funds Q3 2014 (€ billion) €290bn +16.0% /Q2 2014
Net sales of UCITS
Q4 2014 (€ billion)
16.7%
-45% /Q3 2014
as of end of September 2014
Market share:
€59bn
19.9%
18.5%
UCITS posted net inflows of €59 billion during the quarter, down from €130 billion in the third quarter.
Worldwide net cash flow to all funds was €290 billion in the third quarter, compared to €252 billion of net inflows in the second quarter. 320
16.7%
13.9%
Looking at the markets in which financial management of investment funds is actually performed, France ranks third, with 16.7% market share, behind the UK at 19.9% and Germany at 18.5%.
7.6%
148
290
292
4.8%
132
126 130
252
2.2%
229
182
59
109
51
UK
Italy
USA Switzerland
Spain
34
France
Germany
12
2013
2014
2013
2014
Source: EFAMA, AFG, CSSF, IFIA
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