Most French asset managers use social media – AFG

The French asset management association AFG has published a research focusing on the use of social media by French asset managers.

Some 45 companies, managing 56% of French asset management industry’s total AUM, have been surveyed between end August and mid September 2015.

The AFG’s research shows 75% of the asset managers interviewed include social networks in their external communications strategy. The rate of companies using them on a daily basis reaches 45%.

The firms that are not exploiting social media in their strategies highlight three reasons to that. First, they assess using social networks does not appear as a priority (56%), then they do not know how to handle social networks (44%) and they lack time to use them (22%).

LinkedIn (80%) and Twitter (48%) remain the most used tools by French asset managers. Users’ profiles are mainly CEOs/directors and sales/marketing employees. Fund managers come third.

Among goals asset managers pursue when using social networks, 43% of the firms answered they want to be directly in touch with clients whilst 40% use them to promote products and services, and 23% for recruitment purposes. One in five French asset managers use social media for prospecting.

Other figures reveal that 58% of firms questioned are monitoring social media and 36% have implemented an internal set of principles for the using of social networks.

As the asset management industry gets ever more online, 22% of the French asset managers interviewed have plans to boost their social media strategy in the coming year.

According to AFG’s figures, the French asset management industry currently posts €3.4trn of AUM.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

Read more from Adrien Paredes-Vanheule

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