Overview

The French asset management association (Association Française de la Gestion financière – AFG).

AFG, the French Asset Management Association (Association Française de la Gestion financière) is the professional body representing the asset management industry. AFG’s members are French asset managers: either boutique entrepreneurial houses or subsidiaries of banking, insurance or money management groups.

  • The French asset management industry now represents a quarter of the market in continental Europe.
  • Total assets under management in France (discretionary mandates and investment funds) increased by 7.2% in 2019 to €4,185 billion.
  • The market sell-off in the last quarter of 2018 was followed by a sharp and widespread increase in gains on equity and fixed income markets in 2019. Despite the market upturn, the net outflows from equity funds observed in France and Europe in the fourth quarter of 2018 continued throughout the first three quarters of 2019. After recording net negative flows in 2018, bond funds registered positive net sales in France and Europe of +€277 billion in 2019.
  • Unlisted real assets (real estate, private equity, infrastructure, private debt, etc.) also attracted investors on the look-out for return and diversification opportunities.

Employing over 85,000 people − including 26,000 directly in asset management companies − the industry plays a key role in the financing of the real economy.

630 asset management companies operate in France, including 200 set up over the last 5 years. Over 450 of them are entrepreneurial, while 4 French groups rank among the global top 25.

About 50% of French asset managers commercialise their funds on a cross-border basis, and more than 30% of the assets managed by our members are issued by corporates or states of the Euro zone (excluding France), which makes our industry a key source of funding for the European economy.

The AFG’s remit

  • Representing the business, financial and corporate interests of members, the entities that they manage (collective investment schemes) and their customers. As a talking partner of the public authorities of France and the European Union, the AFG makes an active contribution to new regulations,
  • Informing and supporting its members; the AFG provides members with support on legal, tax, accounting and technical matters,
  • Leading debate and discussion within the industry on rules of conduct, the protection and economic role of investment, corporate governance, investor representation, performance measurement, changes in management techniques, research, training, etc.
  • Promoting the French asset management industry to investors, issuers, politicians and the media in France and abroad. The AFG represents the French industry – a world leader – in European and international bodies. AFG is of course an active member of the European Fund and Asset Management Association (EFAMA), of PensionsEurope and of the International Investment Funds Association (IIFA).

What is asset management? 

Individual and institutional investors entrust asset management companies with the investment and management of their capital.
  • The asset management industry offers investors :
    Portfolio management or individual management under discretionary mandate from an individual, a company or an institutional investor.
  • Collective management through collective investment schemes.