Transcript Power Point presentation

March
2003
Brussels
THE STATE OF THE EUROPEAN
INVESTMENT FUNDS INDUSTRY
AT End-March 2003
Slide n° 1
March
2003
Net Assets of European Investment Funds
Brussels
5,000
4,500
4,000
3,265
3,298
954
946
1995
986
1994
989
1,170
1993
932
1,087
500
665
1,062
1992
1,000
1,426
795
1,500
1,807
2,000
2,340
2,500
3,556
3,182
3,000
3,502
3,500
1998
1999
2000
2001
2002
2003
Q1
0
1996
Non-UCITS
1997
UCITS
EUR billions
Source: FEFSI
Slide n° 2
March
2003
Brussels
The UCITS Market
Geographical breakdown of nationally domiciled funds
COUNTRY
ASSETS
%
COUNTRY
ASSETS
%
France
831,800
25.5%
Sweden
53,735
1.65%
Luxembourg
749,377
23.0%
Denmark
32,526
1.00%
Italy
360,426
11.0%
Greece
26,432
0.81%
United Kingdom
249,394
7.6%
Portugal
19,068
0.58%
Ireland
235,505
7.2%
Finland
17,596
0.54%
Germany
192,965
5.9%
Norway
13,409
0.41%
Spain
175,582
5.4%
Poland
5,562
0.17%
Netherlands (1)
88,800
2.7%
Hungary
4,266
0.13%
Belgium
68,894
2.1%
Liechtenstein
3,435
0.11%
Switzerland
67,901
2.1%
Czech Republic
3,406
0.10%
Austria
64,980
2.0%
Total
3,265
0.10%
(1) As of end-December 2001.
EUR millions
Source: FEFSI
Slide n° 3
March
2003
Brussels
The Global Investment Funds Market:
Geographical breakdown adding UCITS and non-UCITS assets
COUNTRY
ASSETS
%
COUNTRY
ASSETS
%
France
916,850
21.8%
Sweden
54,508
1.29%
Luxembourg
823,936
19.6%
Denmark
39,115
0.93%
Germany
746,450
17.7%
Greece
27,942
0.66%
Italy
371,254
8.8%
Portugal
24,845
0.59%
United Kingdom
336,354
8.0%
Finland
17,596
0.42%
Ireland
300,334
7.1%
Norway
13,409
0.32%
Spain
177,980
4.2%
Poland
6,038
0.14%
Netherlands (1)
106,300
2.5%
Hungary
4,474
0.11%
Austria
86,595
2.1%
Liechtenstein
3,447
0.08%
Switzerland
75,889
1.8%
Czech Republic
3,565
0.08%
Belgium
74,552
1.8%
Total
4,211
100.00%
(1) As of end-December 2001.
EUR millions
Source: FEFSI
Slide n° 4
March
2003
Four Basic Types of UCITS
Brussels
1,800
1,600
1,400
1,200
Bond
1,000
Equity
800
600
Money Market
400
Balanced
200
0
1997
1998
1999
2000
2001
2002
2003 Q1
EUR billions
Source: FEFSI
Slide n° 5
March
2003
Brussels
The Equity Funds Market:
Geographical breakdown of home-domiciled assets
COUNTRY
ASSETS
%
COUNTRY
ASSETS
%
Luxembourg
196,717
21.8%
Austria
9,251
1.03%
United Kingdom
181,450
20.1%
Denmark
8,069
0.90%
France
168,400
18.7%
Finland
5,318
0.59%
Germany
69,597
7.7%
Norway
5,310
0.59%
Italy
61,824
6.9%
Greece
3,120
0.35%
Netherlands (1)
48,200
5.4%
Liechtenstein
1,659
0.18%
Spain
41,119
4.6%
157
Portugal
1,204
0.13%
Belgium
40,169
4.5%
Poland
240
0.03%
Sweden
33,558
3.7%
Hungary
220
0.02%
Switzerland
25,035
2.8%
Czech Republic
41
0.005%
(1) As of end-December 2001.
Source: FEFSI
EUR
millions
Slide n° 6
March
2003
Brussels
The Bond Funds Market
Geographical breakdown of home-domiciled assets
COUNTRY
ASSETS
%
COUNTRY
ASSETS
%
Luxembourg
363,345
36.6%
Belgium
9,924
1.00%
Italy
158,870
16.0%
Portugal
7,519
0.76%
France
151,700
15.3%
Greece
5,875
0.59%
Germany
66,131
6.7%
Sweden
4,739
0.48%
Spain
58,689
5.9%
Poland
3,939
0.40%
United Kingdom
45,928
4.6%
Finland
3,156
0.32%
Austria
44,358
4.5%
Hungary
2,974
0.30%
Denmark
24,004
2.4%
Norway
1,819
0.18%
Netherlands (1)
23,100
2.3%
Liechtenstein
897
0.09%
Switzerland
14,075
1.4%
Czech Republic
713
0.07%
(1) As of end-December 2001.
Source: FEFSI
EUR
millions
Slide n° 7
March
2003
Brussels
The Balanced Funds Market:
Geographical breakdown of home-domiciled assets
COUNTRY
France
ASSETS
%
COUNTRY
ASSETS
%
177,700
42.9%
Austria
7,469
1.80%
Italy
55,354
13.4%
Greece
3,265
0.79%
Luxembourg
54,583
13.2%
Finland
2,369
0.57%
Spain
20,422
4.9%
Portugal
1,379
0.33%
United Kingdom
20,313
4.9%
Czech Republic
858
0.21%
Switzerland
19,292
4.7%
Denmark
451
0.11%
Belgium
17,002
4.1%
Liechtenstein
367
0.09%
Germany
13,100
3.2%
Poland
392
0.09%
Netherlands (1)
9,900
2.4%
Norway
291
0.07%
Sweden
9,410
2.3%
Hungary
56
0.01%
(1) As of end-December 2001.
Source: FEFSI
EUR
millions
Slide n° 8
March
2003
Brussels
The Market of Money Market Funds
Geographical breakdown of home-domiciled assets
COUNTRY
France
ASSETS
%
COUNTRY
ASSETS
%
334,000
50.1%
Finland
6,753
1.01%
Luxembourg
87,752
13.2%
Austria
3,903
0.59%
Italy
84,377
12.7%
Czech Republic
1,795
0.27%
Spain
55,352
8.3%
Belgium
1,777
0.27%
Germany
42,542
6.4%
United Kingdom
1,702
0.26%
Greece
14,172
2.1%
Hungary
1,012
0.15%
Switzerland
9,500
1.4%
Poland
991
0.15%
Portugal
8,965
1.3%
Liechtenstein
513
0.08%
Norway
5,989
0.9%
Denmark
2
n.a.
Sweden
4,974
0.7%
Netherlands
n.a.
n.a.
(1) As of end-December 2001; (2) as of end-June 2002.
Source: FEFSI
EUR
millions
Slide n° 9
March
2003
Brussels
Proportion of Equity Funds
(as % of total UCITS assets)
Source: FEFSI
Slide n° 10
March
2003
Brussels
Proportion of Bond Funds
(as % of total UCITS assets)
Source: FEFSI
Slide n° 11
March
2003
Brussels
Proportion of Balanced Funds
(as % of total UCITS assets)
Source: FEFSI
Slide n° 12
March
2003
Brussels
Proportion of Money Market Funds
(as % of total UCITS assets)
Source: FEFSI
Slide n° 13
March
2003
Brussels
The End...
Slide n° 14