CACEIS NEWS 55 EN

8 caceis news - N 0 . 55 - October 2018 Worldwide Source: EFAMA - September 2018 Worldwide Investment Fund Assets Q2 2018 (€ trillion) Worldwide investment fund assets increased by 4.4% in the second quarter of 2018. €45.65tr +4.4% /Q1 2018 Trends by investment type Q2 2018 (€ trillion) On a euro-denominated basis, worldwide equity fund assets increased by 6.5% to €19.2tr at the second quarter of 2018. Bond fund assets increased by 2.2% to €9.2tr. Balanced/mixed fund assets increased 2.8% to €7.9tr. Money market fund assets increased by 3.3% to €5.1tr at the end of the second quarter of 2018. At the end of Q2 2018, 42% of worldwide regulated open- ended fund net assets were held in equity funds. The asset share of bond funds was 20% and the asset share of balanced/mixed funds was 17%. Money market fund assets represented 11% of the worldwide total. 2016 2017 2018

Country Focus-France

Europe

Source: EFAMA - September 2018

Net assets in France (domiciliation) - Q2 2018 (€ trillion)

Total net assets of the European investment increased to €15.78 trillion at end Q2 2018, representing a net asset growth of 1.6% since Q1 2018 and 1.1% since end 2017. With €9.82 trillion invested in UCITS, this segment accounted for 62.2% of total European investment fund assets at end Q2 2018, with the remaining 37.8% (equivalent to €5.96 trillion) coming from AIFs. €15.78tr +1.6% /Q1 2018 Net assets of the European Fund industry Q2 2018 (€ trillion)

-0.88% /Q1 2018

€1.90tr

1.88 1.89 1.93 1.93 1.92 1.90

1.79

1683

Net assets in France decreased by 0.88% in the second quarter of

Top Ten at Q2 2018

2018, compared to a 1.6% increase in Europe over the same period.

Ireland € 2.5 tr

Luxembourg € 4.23 tr

Q4 2016

Q1 2017

Q2 2017

Q3 2017

Q4 2017

Q1 2018

Q2 2018

Source: EFAMA

Change in net assets by category of French Investment Funds (€ billion) - May 2018

Germany € 2.06 tr

France € 1.90 tr

NET ASSETS VARIATION

NET ASSETS

Year To Date

Over a month

CLASS OF FUND

31/05/2018

€19.2tr €9.2tr €5.1tr €7.9tr

Equity

342.7 340.8

-0.3 -0.5 -0.6 -2.3

-12.5 -7.8 -2.2 0.3 19.6

+6.5%

Equity

Netherlands € 843 bn

Balanced

UK € 1.65 tr

Guaranteed

22.5

+2.2%

Bonds

Bond

281.5 363.8

Money Market

-10.0

Other (Employees savings, PE, Real Estate, FofHF, Securitisation Funds)

Money Market

+3.3%

580.4

1.6

5.2

Sweden € 336 bn

Switzerland € 531 bn

TOTAL

1931.7

-12.1

2.6

+2.8%

Balanced

Source: AFG

Net assets breakdown

0 2000 4000 6000 8000 10000 12000 14000 16000

by category of UCITS May 2018 (€ billion)

Bonds 16 %

Denmark € 297 bn

Italy € 318 bn

Guaranteed

1 %

Money Market

37 %

UCITS net assets in France amounted to €877bn

Balanced

€1,554bn €877bn

Q4

Q1

Q2

Q3

Q4

Q1

Q2

2018

2016

2017

19 %

in May 2018, i.e. 45.4% of the global assets.

Net cash flow to Investment Funds - Q2 2018 (€ billion)

Net Sales of AIF - Q2 2018 (€ billion) -77% /Q1 2018

Equity

27 %

-62.15% /Q1 2018

€190bn

€12bn

1%

Source: AFG

4% Money Market

Worldwide net sales of open-ended funds decreased to €190 billion in Q2 2018, compared to €502 billion in Q1 of 2018.

Net assets breakdown

AIFs recorded net inflows of € 12 billion in Q2 2018, down from € 52 billion in Q1.

by category of AIF May 2018 (€ billion)

Bonds

13%

72

694

Equity

635

611 574

63

10%

56

54

52

AIF net assets in France amounted to €1,055bn

502

€1,554bn €1,0 5bn

Guaranteed

2%

43

42

Others

in May 2018, i.e. 54.6% of the global assets.

55%

Balanced

16%

19

190

12

*Other (Employees savings, PE, Real Estate, FofHF, Securitisation Funds)

2016

2017

2018

2017

2018

Source: AFG

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