18/10/2013
Assets under management on French market top EUR3trn
After gains of slightly over 6% in 2012, assets under management for third parties on the French market once again rose by 3.3% in the first nine months of the year, to top EUR3trn as of the end of September, at EUR3.036trn, according to the most recent estimates by the French financial management association (AFG). Of this total, mandates, including foreign-registered OPCs, have gained nearly EUR100bn, to EUR1.529trn, while collective management held stable at EUR1.507trn. This psychologically significant threshold, which marks an increase of over 20% in five years, and of nearly 10% over the end of 2007, is nonetheless largely due to positive market effects, as all OPC asset classes show outflows since the beginning of the year, even though figures have improved since summer. With that said, asset management activity in Paris remains highly dynamic, with many creations of asset management firms once again this year. Without definite figures, the balance of creations is expected to total about 30, says Paul-Henri de La porte du Theil, chairman of the AFG, at a press conference. However, there has been a decline in creations since 53 in 2010, 39 the next year, and 34 last year.
