EUROPE: EFAMA publishes Asset Management Industry Review

Thursday May 6 2010

The European Fund and Asset Management Association (EFAMA) has published EFAMA `s Third Annual Review Asset Management in Europe: Facts and Figures.

This includes a review of the size and profile of AUMs by domicile and the impact of the financial crisis on asset managers.

UCITS IV

The review also touches upon the impact of UCITS IV which comes in to force in July 2011. The UCITS IV `s management company passport will allow for management companiesto manage funds cross-border, and will not be required to appoint service providers in the domicile of the fund, except the custodian bank.

The review notes that Asset Managers are likely to reconsider and centralise their existing service provider framework to their headquarters or other prominent funds centres like Luxembourg and Dublin thus significantly reducing the number of management companies.

The review also points out that against the backdrop of the recent financial crisis, Asset Managers will have little choice but to make structural changes by adjusting their operating models which is likely to lead to an increased level of mergers and acquisitions, which will be driven by the implications of the crisis and new regulations on the asset mangers ` profitability as well as by the fact that many large financial groups still need capital.

Click on the above link for the full review.

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