CACEIS NEWS 43 EN

8 caceis news - No. 43 - September 2015 Worldwide Source: EFAMA - August 2015

Country Focus - Germany

Europe

Source: EFAMA - June 2015

Ireland focus in the next CACEIS news

Net assets under management (AuM) in Germany Q2 2015

Worldwide Investment Fund Assets Q1 2015 (€ trillion)

The combined assets of the investment fund market in Europe, i.e. the market for UCITS and AIFs increased 12.6% during the first quarter to stand at €12.66tr at end March 2015. €12.66tr +12.6% /Q4 2014 Net asset of the European Fund industry Q1 2015 (€ trillion)

€2.6tr +8% /Q4 2014 From the beginning of the year to the end of June 2015, assets under management grew by almost 8% to around €2.6tr. The assets managed by fund companies in Spezialfonds total €1.3tr, while assets under

+13.7% /Q4 2014

€37.8tr

management in retail funds stand at €877bn and those held outside investment funds amount to €377bn.

Regulated open- end fund assets worldwide stood at a new all-time high of €37.8tr at end March 2015, reflecting growth of 13.7% during the first quarter.

2,600

377

2,295

2013

2014 2015

Assets outside investment funds Spezialfonds Retail funds

334

2,037 2,105

318

1,832 1,783

Top Ten

325

1,699

1,707

307

1,300

286

1,522

1,507

276

326

1,358

169

1,187

289

Ireland € 1.9 tr

Luxembourg € 3.5 tr

158

1,071

Trends by investment type Q1 2015 (€ trillion) Equity fund assets increased 16.3% to €15.8tr at the end of the first quarter of 2015. Bond fund assets increased 11.1% to €7.9tr. Balanced/mixed fund assets rose 14.7% to €6.7tr, while money market fund assets increased 10.6 % globally to €4.1tr.

982

815

692

729

846

670

615

642

877

774

731

652

716

710

730

683

585

651

576

Germany € 1.7 tr

France € 1.7 tr

*Including foreign funds 2004 2005 2006 2007 2008 2009 2010 2011 2012 31/8/14 31/6/15

€15.8tr €7.9tr €4.1tr €6.7tr

+16.3%

Source: BVI

Equity

Net Sales of Investment Funds Q2 2015

Bonds

Switzerland € 491 bn

UK € 1.4 tr

+11.1%

The German fund industry recorded net inflows of new money to the tune of €109bn during the first half of the year (full year 2014: €116bn),

with Spezialfonds and retail funds contributing just under €70bn and approximately €43bn, respectively.

Money Market

+10.6%

Sales receipts Repurchases of investment fund shares

Net sales receipts

+14.7%

Balanced

40 35 30 25 20 15 10

40 35 30 25 20 15 10

Italy € 273 bn

Sweden € 288 bn

14 16

10 12

0 2 4 6 8

€

Denmark € 250 bn

Spain € 251bn

5 0

5 0

Q1

Q2

Q3

Q4

Q1

2014

2015

2013

2014

2015

Net sales of Investment Funds Q1 2015 (€ billion) €574bn +16% /Q4 2014 Worldwide net cash inflows increased in the first quarter to €574bn, up from €495bn in the fourth quarter of 2014, thanks to increased net inflows to equity, bond and balanced/mixed funds.

Net sales of UCITS

Q1 2015 (€ billion)

Insurers continue to favour Spezialfonds

+580% /Q4 2014

€285bn

AuM end of June 2015

Net sales January to June

(total €1,314bn)

(total €70bn)

60 85 164

Other (e.g. social security institutions*, public supplementary pension agencies**)

4.1

UCITS net sales surged in the first quarter of 2015 to €285bn, up from €49bn in the fourth quarter of 2014.

Non-pro t organisations (e.g. churches, associations)

3.5

225

285

574

5.0

Credit institutions

495

260

14.7

Manufactoring companies, industrial foundations, etc. Retirement bene t schemes (e.g. pension schemes, pension funds, de ned bene t schemes)

346

330 361

148

126 130

12.0

519

49

30.6

Insurance companies

2014 2015

2014 2015

*e.g. statutory health insurance funds, Deutsche Rentenversicherung Bund, liability insurance associations **German state and federal state pension bodies, charities and municipal entities

Source: BVI

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