CACEIS NEWS 46 EN

8 caceis news - No. 46 - June 2016 Worldwide

Country Focus - Luxembourg

Europe

Source: EFAMA - March 2016

Source: EFAMA - March 2016

Germany focus in the next CACEIS news

Net assets under management (AUM) in Luxembourg funds (€ trillion) - February 2016

Worldwide Investment Fund Assets Q4 2015 (€ trillion)

2015 was a record year for the European investment fund industry. Investment fund assets in Europe increased by 11.3% to €12,58 trillion. Overall, net assets of UCITS increased by 13% to €8.1trillion. Net assets of AIF increased by 8.3% to €4.4 trillion. €12.58tr +11.3% /Q4 2014 Net asset of the European Fund industry Q4 2015 (€ trillion)

€3.35tr -0.37% /January 2016

+12% /Q4 2014

€36.94tr

Investment fund assets worldwide increased 5.9% to €36.94 trillion at year end 2015. The year asset growth reached 12%.

3,513 3,589 3,506

3,403 3,524 3,538 3,601 3,528 3,583

3,423 3,366

3,371 3,358

2014

2015

€3.35 trillion: net assets under management in Luxembourg investment funds at the close of February 2016. This represents a decrease of 0.37% in comparison with end January 2016.

Top Ten

Trends by investment type Q4 2015 (€ trillion) Equity fund net assets increased 8.4% to €14.8 trillion at the end of the fourth quarter of 2015. Bond fund assets increased 2.2% to €7.5 trillion. Balanced/mixed fund assets increased 5.3% to €6.7 trillion, while money market fund assets increased 7.7% globally to €4.7 trillion. At the end of 2015, assets of equity funds represented 40% and bond funds represented 20% of all investment fund assets worldwide. Of the remaining assets money market funds represented 13% and the asset share of balanced/ mixed funds was 18%.

02 03 04 05 06

2015 2016 07 08 09 10 11 12 01 02

Ireland € 1.8 tr

Luxembourg € 3.4 tr

Source CSSF/ALFI as at 29/02/16

Market shares of fund promoters by country of origin - February 2016

21%

France € 1.6 tr

Germany 1.7 tr

US Market share:

705

At the close of February 2016, in terms of net assets US promoters held on to the first place which they have occupied since September 2009 with a market share of 21%. US, Germany and Switzerland still account for more than 50% of the overall market as in 2015.

€14.8tr €7.5tr €4.7tr €6.7tr

+8.4%

Equity

552

Switzerland € 465 bn

UK € 1.4 tr

502

469

+2.2%

Bonds

302

263

Money Market

217

+7.7%

142

Sweden € 263 bn

Italy € 275 bn

73 72 58

+5.3%

Balanced

0 2000 4000 6000 8000 10000 12000 14000 16000

US GB DE CH IT FR BE

LU NL SE Others

Source CSSF as at 29/02/16

€

Domicile market share for cross-border fund distribution - Q4 2015 65% Luxembourg Market share:

Denmark € 238 bn

Spain € 249 bn

Q3

Q4

Q1

Q2

Q3

Q4

2014

2015

Net sales of UCITS

Q4 2015 (€ billion)

Net sales of Investment Funds Q4 2015 (€ billion)

+125% /Q3 2015

€122bn

Ireland 22%

France 4%

Luxembourg 65%

+151% /Q3 2015

€579bn

With 65% of the worldwide cross-border registrations, Luxembourg remains the leading cross-border fund domicile in 2015. AT 22%, Ireland registered an increase compared to 19% in 2014.

Net sales of UCITS registered an increase in the fourth quarter of 2015 with net inflows of €122 billion, up from €54 billion in the third quarter.

Worldwide net cash flow to all funds amounted to €579 billion in the fourth quarter, compared to €230 billion in net inflows during the third quarter of 2015.

UK 2%

Other 4%

Jersey 3%

283

564 596 579

495

Source PwC as at 31/12/15

346

148

330 361

126 130

122

114

230

54

49

2014

2015

2014

2015

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