CACEIS NEWS 45 EN

8 caceis news - No. 45 - April 2016 Worldwide

Country Focus - France

Europe

Source: EFAMA - January 2016

Source: EFAMA - January 2016

Luxembourg focus in the next CACEIS news

Third-party AuM in France (€ billion)

Worldwide Investment Fund Assets Q3 2015 (€ trillion)

The combined assets of the investment fund market in Europe, i.e. the market for UCITS and non-UCITS decreased 4.1% during the third quarter to stand at €12,114 billion at end September 2015. €12.11tr -4.1% /Q2 2015 Net asset of the European Fund industry Q3 2015 (€ trillion)

€3.59tr +5.0% /Q4 2015

-5,9% /Q2 2015

€34.9tr

1,683 3,591 +5.0%

1,599 3,421 +9.6%

Investment fund assets worldwide decreased 5.9% to €34.9 trillion at the end of the second quarter of 2015.

1,543 3,120 +3.2%

1,509 3,025 +9.3%

1,514 2,917 +4.2% 2,768 -5.1%

2,800 +11.6%

1,594 2,779 +4.6% 2,509 -9.7%

1,544 2,658 +12.9%

1,523

1,387

2013 2014

2015

1,384

Top Ten

1,822 1,908

1,577

1,516

Total assets under management in discretionary mandates and investment funds in France rose 5% in 2015 to stand at €3.59 trillion.

1,403

Ireland € 1.8 tr

1,381

Luxembourg € 3.4 tr

Trends by investment type Q3 2015 (€ trillion) Equity fund assets worldwide decreased 9.7% during the third quarter to €13.7 trillion as well as net assets of balanced/mixed funds by 6.6% to stand at €6.4 trillion, whilst net assets of bond funds also decreased 4.5% to stand at €7.3 trillion. Money market funds enjoyed growth in net assets of 5.2% during the quarter to stand at €4.3 trillion.

1,277

1,185

1,125

1,114

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

French funds

Mandates (inc. foreign funds)

France € 1.6 tr

Germany 1.7 tr

Source: AFG January 2016

€13.7tr €7.3tr €4.3tr €6.4tr

Market share by fund domiciliation in Europe

-9.7%

Equity

Switzerland € 465 bn

UK € 1.4 tr

13.3% 

Bonds

-4.5%

Market share:

as of end of 2015

Money Market

+5.2%

27.7%

Sweden € 263 bn

Italy € 275 bn

-6.6%

In terms of investment fund domiciliation, Luxembourg consolidated its leadership position in Europe with a 27.7% market share. France ranks third (13.3%), just behind fast-growing Ireland (15%) and Germany (13.7%).

Balanced

15% 13.7% 13.3% 11.7%

0 2000 4000 6000 8000 10000 12000 14000 16000

2.2% 2.0%

€

Denmark € 238 bn

Spain € 249 bn

UK

Italy

Spain

France

Ireland

Germany

Luxembourg

Source: AFG January 2016

Q3

Q4

Q1

Q2

Q3

2014

2015

Net sales of UCITS

Market share of financial management of European investment funds

Q3 2015 (€ billion)

Net sales of Investment Funds Q3 2015 (€ billion)

15.8% 

-71% /Q2 2015

€33bn

-61% /Q2 2015

as of end of 2015

Market share:

€230bn

UCITS posted net inflows of €33billion during the quarter, down from €130 billion in the third quarter.

Worldwide net cash flow to all funds was €230 billion in the third quarter, compared to €596 billion of net inflows in the second quarter.

21.4%

18.1%

15.8% 14.6%

285

Looking at the markets in which financial management of investment funds is actually performed France ranks third, with 15.8% market share, behind the UK at 21.4% and Germany at 18.1%.

564 596

7.8%

495

5.1%

2.3%

346

148

330 361

126 130

114

230

UK

49

Italy

USA Switzerland

33

Spain

France

Germany

2014

2015

2014

2015

Source: AFG January 2016

Follow us

Publishing Director: Eric Dérobert - Editor: Philippe Naudé +33 1 57 78 10 68 philippe.naude@caceis.com - Design: Sylvie Revest-Debeuré Photos credit: Yves Maisonneuve, Yves Collinet, CACEIS; Dominique Amphonesinh; Fotolia - Printer: GRAPH’IMPRIM certified Imprim’vert®. This document is printed on Cyclus paper, 100% recycled fiber, certi- fied Blaue Engel, Nordic Ecolabel and Ecolabel européen - Number ISSN: 1952-6695. For further information on our products and services, please contact your Business Development Manager. This newsletter has been produced by CACEIS. CACEIS cannot be held responsible for any inaccuracies or errors of interpretation, which this document may contain. www.caceis.com