In its latest annual review, the European Fund and Asset Management Association (Efama) estimated that total assets under management (AuM) in Europe grew by 12% in 2012 to €15,400bn – the highest figure since 2006, and the highest ratio of AuM to gross domestic product over the same period, standing at 108%.
More detailed figures for AuM in individual European centres are only available up to the end of 2011, and position the UK as the top country for managing investments. Assets managed out of the UK’s financial centres were worth an aggregate €4977bn, accounting for more than one-third of Europe’s total. Second and third in the ranking are France and Germany, with €2756bn and €1438bn in AuM and 20% and 10% market share, respectively. Italy, the Netherlands and Belgium follow at a far distance.