Revisiting the European Asset Management Industry

Financial Markets, Institutions & Instruments, Vol. 20, Issue 4, pp. 163–190

Posted: 6 Mar 2011 Last revised: 18 Jan 2012

See all articles by Bernard Delbecque

Bernard Delbecque

European Fund and Asset Management Association (EFAMA); Catholic University of Louvain (UCL)

Elias Bengtsson

Halmstad University; Göteborg University - School of Business, Economics and Law

Multiple version iconThere are 2 versions of this paper

Date Written: March 3, 2011

Abstract

During the last decade, economic integration, geopolitical developments and regulatory change have transformed the European asset management industry. But while the industry has evolved, academic research has not kept pace. During the last ten years or so, the lack of systematic research on the structural dimensions of the asset management industry is striking. This article fills this gap by providing a comprehensive overview of the European asset management industry at the end of the first decade of the 21st century. We seek to provide explanations to the various differences observed between European countries. Using prior research as a basis, we also compare the characteristics of the industry to their standing at the turn of the century. This includes assessing whether and to what extent the forecasts provided in prior research did materialize. Finally, we ourselves offer a number of prognoses on the development of the European asset management over the coming years.

Keywords: asset management, investment funds, fund industry, UCITS, discretionary mandates, asset allocation

JEL Classification: G20, L1, L11, L22

Suggested Citation

Delbecque, Bernard and Bengtsson, Elias, Revisiting the European Asset Management Industry (March 3, 2011). Financial Markets, Institutions & Instruments, Vol. 20, Issue 4, pp. 163–190 . Available at SSRN: https://ssrn.com/abstract=1765327

Bernard Delbecque (Contact Author)

European Fund and Asset Management Association (EFAMA) ( email )

18, Square de Meeûs
Brussels, 1050
Belgium
003225133969 (Phone)

Catholic University of Louvain (UCL) ( email )

Department of Economics
B1348 Louvain-la-Neuve, 1348
Belgium

Elias Bengtsson

Halmstad University ( email )

301 18 Halmstad
Sweden

Göteborg University - School of Business, Economics and Law ( email )

Vasagatan 1
Goteborg, 40530
Sweden

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