2017 was an exceptional year for the European investment fund industry, with net assets of UCITS and AIF surpassing the EUR15 trillion mark, according to the European Fund and Asset Management Association (EFAMA) latest Quarterly Statistical Release.
Net assets of UCITS increased by 12 per cent to EUR9,714 billion. Of the largest UCITS domiciles, Ireland recorded the largest net asset increases in 2017 (15.9 per cent), followed by Luxembourg (11.9 per cent), the UK (11.6 per cent), and France (9.8 per cent). Elsewhere in Europe, net asset growth greater than 20 per cent was recorded in Belgium, Bulgaria Cyprus, Czechia, Hungary, Malta, Poland and Portugal.
Net assets of AIFs increased 7 per cent to EUR5,909 billion. Of the largest AIF domiciles, Luxembourg recorded net asset growth of 15.1 per cent, followed by Ireland (11.8 per cent), Germany (6.9 per cent), Netherlands (5.6 per cent), and France (5.2 per cent). Elsewhere in Europe, net asset growth greater than 20 per cent was recorded in Croatia, Cyprus and Czechia.
Net sales of UCITS and AIF reached EUR949 billion in 2017, compared to EUR461 billion in 2016.
In the UCITS market, eight domiciles attracted net sales larger than EUR10 billion: Luxembourg, Ireland, the United Kingdom, France, Germany, Spain, Italy and Switzerland.
In the AIF market, five domiciles attracted net sales larger than EUR10 billion: Germany, Ireland, Luxembourg, the United Kingdom and the Netherland.
The total number of UCITS increased by 4.2 per cent to 31,974, whereas the total number of AIF funds increased by 0.3 per cent to 28,231. Money market AIF funds registered net outflows of EUR3 billion (compared to net inflows of EUR1 billion in 2016).
Bernard Delbecque (pictured), Director of Economics and Research, says: “2017 was another record year for the European investment fund industry, with 12 European countries recording net asset growth greater than 10 per cent.”
