17 February 2016
Total assets under management in discretionary mandates and investment funds in France: In 2015, a return to positive inflows
- In 2015, French investment funds resumed attracting global positive net inflows worth +36.1 bn EUR, compared to net outflows worth -21.4 bn EUR in 2014. These inflows concentrated in balanced funds (+16 bn EUR) and money market funds (+23 bn EUR). Net subscriptions in equity funds amounted to +3 bn EUR.
- Global assets under management in France (discretionary mandates and investment funds) continued rising in 2015 (+170 bn EUR i.e. +5%), reaching approximately 3,600 bn EUR. From their low point in 2008, the annualised growth rate hit 5.3%.
- Assets under management in French domiciled funds grew by +5.2% and reached close to 1,700 bn EUR (920 bn EUR in AIFs and 763 bn EUR in UCITS), while discretionary mandates of French and foreign clients (including foreign funds managed in France) increased by +4.7%, thus exceeding 1,900 bn EUR.
- At European level, assets under management in funds amounted to 12,640 bn EUR at the end of 2015, growing by +11.9% over the year. French asset management companies, drawing in particular on an increasingly globalised client base, benefited from this dynamism.
- Regarding asset management (investment funds and discretionary mandates), French asset management companies ranked second in Europe with a 20% market share. Regarding fund domiciliation, France ranked second in Europe for AIFs (21% market share) and fourth for UCITS (9%).
- Low remunerations on savings accounts and contracts, stemming from an allocation concentrating on fixed income products, weighed heavily on the valuation of the financial assets of French households, whose allocation, largely influenced by taxation, mainly favoured real estate and liquid and guaranteed financial products. New incentives and/or long term savings measures should be put in place, so that the accumulation of individual assets can meet future needs arising from retirement and dependency and contribute more efficiently, together with institutional investment, to the financing of the economy.