European Passive Investments 2023
An Increasingly Diverse Marketplace
Assess the Overall State of Passive Investing in Europe
- Gain an in-depth analysis of exchange-traded fund (ETF) issuers’ and index fund providers’ product development and an assessment of current and expected demand from various distribution channels
- Access detailed analysis of European asset managers’ and ETFs issuers’ appetite for and interest in developing direct indexing capabilities
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Summary
This report assesses the overall state of passive investing in Europe, with a focus on the ETF and index fund markets. It examines key industry trends, ETF issuers’ and index fund providers’ product development activities, and current and expected demand across various retail and institutional channels (such as independent wealth managers and private banks, pension funds, and insurers) and seeks to identify how players can capitalize on investors’ shift toward index funds and ETFs. The report provides insights into both demand and product development, as well as key distribution challenges and opportunities in the main asset management markets in Europe.
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A Note from the Author
The Best Way to Win Shelf Space Among European Distributors? A Solid Passive Investment Lineup
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.
According to our research, it’s clear that demand for passive investments is growing in Europe. 58% of European fund selectors and intermediaries estimate that they allocate more than 30% of assets in a balanced client portfolio to passive funds. 64% of distributors offer passive-only investment services and solutions and 8% plan to launch such services in the next 12 to 24 months.
Our research details where managers should consider developing their passive investment strategies and which investor channels to target as well as barriers to adoption and opportunities for growth across seven key European markets. Use this research, European Passive Investments 2023: An Increasingly Diverse Marketplace, to gain:
- Analysis of product development trends in the exchange-traded fund (ETF) and index fund spaces, including adoption by different types of investors, how demand for these products is evolving, the main catalysts of industry growth, trends in sustainable and thematic investing, and the main obstacles and opportunities in this space.
- Market sizing and data on the fixed-income ETF space in Europe, including assets by sector, and current and expected demand by category, market, and distribution channel. It also looks at the inclusion of ESG criteria in this area in terms of market sizing and flows, current and future product launches, and expected growth.
- Analysis of European fund selectors’ current and expected use of passive products, including their allocations to index mutual funds and ETFs. This includes the areas in which they believe passive solutions offer more value than active solutions, the areas of the market they see as being underserved, and current demand for thematic and environmental, social, and governance (ESG)-linked products.
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