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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