Private and institutional investors have invested an amount totalling €11.8trn in investment funds, according to the European Central Bank. With assets amounting to €2.6trn, Germany is the largest market for Ucits and AIFs. This equates to a share of 22%.
Investors in France and in UK have invested €1.7trn in similar funds, in the Netherlands and Italy it is €1.1trn each.
Germany second fastest growing market
Italy is the fastest growing of the five largest fund markets: since the end of June 2013, fund assets in Italy grew on average by 13.7% per year. At an annual growth rate of 10.1%, Germany is ranking second, followed by the Netherlands at 8.1%, the UK at 7.7% and France at 6.0%.
ECB statistics focus on EU fund markets
Based on reports from custodians and central banks, ECB statistics only include fund assets held by investors in the EU. While funds launched in Europe have net assets totalling €16trn, €3trn is made up by funds launched particularly in Luxembourg or Ireland that are sold outside the EU, in Asia for example.
According to ECB statistics, it is irrelevant in which country the portfolio manager of a fund is located. Portfolio managers located in London, for example, manage 7.0% of the Spezialfonds assets and 3% of the retail fund assets in Germany.