European Distribution Dynamics 2023
Navigating Uncertainty
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
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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.
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A Note from the Author
Demand for Passive Investments Set to Rise in Southern Europe Private Banking Segment
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.
Southern European private banks may hold the keys to expansion for asset managers with a passive product lineup. Our research finds that passive investing, particularly in the ETF wrapper, has been one of the fastest-growing areas of the asset management industry in Europe over the past five years.
- 92% of the Italian and Spanish private banks Cerulli surveyed expect their ETF allocations to increase at least slightly in the next 12 to 24 months. Nearly three-quarters (72%) of Italian private bank respondents plan to allocate more to index funds; 48% of their Spanish counterparts intend to do so.
- 48% of the Italian private banks we surveyed see high demand for ESG ETFs and 36% see high demand for ESG index funds.
- 56% of Spanish private banks see strong demand for thematic ETFs and 64% expect demand to increase over the next 12 to 24 months.
Cerulli’s latest report features in-depth analysis of passive product demand in addition to outlining key trends in the region’s main fund markets. Examine the state of active and passive mutual fund and ETF distribution across the main European asset management markets, and assess the implications for asset managers, with our latest report.
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