European Distribution Dynamics 2022
Uncovering Growth Opportunities
Analyze Demand, Assess Intermediaries
- Explore a comprehensive analysis of the independent wealth management segment in the U.K., with in-depth research covering how product demand and clients’ objectives are evolving, fund selection practices and trends, portfolio construction, and evolving approaches to ESG investing
- Access in-depth analysis of China-focused funds in Europe, including data on the historical growth of these products in Europe and a comprehensive view of the product landscape
- Analyze product trends in different European markets, including data on the historical growth of the product universe in the region, the evolution of product demand in each market, asset growth, and areas for further development
Buy Now

Ryan Hanratty
Account Manager
- Boston HQ +1 617.437.0084
- Singapore +65 6994 1022
- London +44 20 7645 9040
Summary
Evaluate mutual fund distribution across European markets: the U.K., France, Germany, Sweden, Switzerland, Spain, Italy, and the cross-border segment. This report provides clarity on product development and expected product demand from various distribution channels, identifying opportunities and challenges for asset managers.
Included with Purchase
Methodology
Each report is lead authored by a senior Cerulli analyst with significant industry experience. The report incorporates qualitative and quantitative inputs, based on Cerulli’s proprietary research process. Each report is designed to be an expert-level sourcebook for strategic guidance. For more on our research process, click here.
Executive Summary
Get the most important report findings distilled in an easy-to-understand and highly visual format before you begin your journey through the report or use it as a tool for senior leadership.
Interactive Report Dashboard
Access consolidated data from multiple report exhibits in a single comparative view. Flexibly build your view of data with customizable filters and share the results in a format that meets your requirements.
Analyst Support
Got a question? Our analysts are available to help you interpret and analyze key findings as well as provide their perspective on industry trends. Let our experts guide you and your team through the material that matters most with their deep knowledge and perspective of the subjects they cover.
Data Behind the Report
Data is the foundation of our reports. Each study contains nearly 100 exhibits, available to buyers in Excel format. Extract and explore Cerulli’s data and analysis your way.
Digital Access
Access your reports digitally anytime, anywhere, on any device through our client portal.
A Note from the Author
European Retail Investors Turn to Thematic Products

Fabrizio Zumbo
Director
Bio →

Fabrizio Zumbo
Director
Fabrizio leads the European Retail/Wholesale Asset Management research practice, which focuses on analyzing asset management product development trends, investment, operational and marketing strategies, market and distribution dynamics, regulatory changes, and performing market and competitive intelligence in the United Kingdom, Continental Europe, and the Nordics.
Prior to joining Cerulli, Fabrizio served as a Lead Industry Analyst at State Street in London and as a Senior Analyst & Research Editor for the PwC’s Global Market Research Centre in Luxembourg. Previously, he carried out several field-based research projects in emerging and frontier markets for international market research and economic consulting firms, spending almost five years performing economic and industry analyses in several countries in Latin America, Africa, and the Middle East.
Full biography here.
The thematic fund space has been a hub for innovation in recent years as appetite for thematic mutual funds and exchange-traded funds (ETFs) is growing rapidly across Europe. Cerulli’s research shows that passive thematic products are set to exhibit the most growth over the next two years. Just 9.2% of the asset managers Cerulli surveyed expect active thematic funds to grow at a fast rate (by more than 10% annually) over that period, but 36.6% believe thematic index funds will grow quickly and 27.5% believe that thematic ETFs will grow at such a rate.
One popular theme is sustainability: retail investors across Europe continue to increase their focus on responsible investment. Despite the overall growth and increasing specialization within the environmental, social, and governance (ESG) investment space in recent years, at the end of 2021, the majority of European ESG assets were held in equity mutual fund products. Managers may find new avenues for growth by improving their capabilities in the alternative and sustainable thematic segments.
Ultimately, managers that can increase their specialization in thematic investing, across passive and active strategies, will be able to differentiate their offerings. This will help them attract new business, given the expected demand for such products over the next two years. Learn more in our latest report, European Distribution Dynamics 2022: Uncovering Growth Opportunities.
Contact Us
Want more information?
Learn more about this report and related Cerulli research.
Contact Us
You May Also be Interested in:
- Annual report
- The Cerulli Edge

Custom Research & Strategic Consulting
Cerulli for Consulting
Understand where to allocate resources to achieve your objectives. We can help you determine which initiatives are likely to be successful and those that may not achieve the desired effect. In an increasingly competitive market, our objectivity and experience can help you to advance your firm’s unique strengths.