EFAMA has published its latest Monthly Statistical Release for September 2024.
EFAMA has published its latest Monthly Statistical Release for September 2024.
The undersigned associations welcome the new European Commission’s objectives to boost the EU’s competitiveness, focus on the enforcement of existing legislation and simplify regulatory frameworks. We appreciate that this was also echoed by the Commissioner-Designate Maria Luis Albuquerque during her confirmation hearing in the European Parliament.
European Commission must ensure they don’t hinder much-needed EU investment
Following recent market disruptions such as the COVID-19 pandemic and the UK gilt market crisis, the European Commission is reviewing the adequacy of macroprudential policies for non-bank financial intermediation (NBFI). In July 2024, they launched a consultation to determine whether the EU should repurpose specific micro-prudential instruments or introduce new macroprudential requirements.
In its response to the Commission’s consultation on assessing the adequacy of macroprudential policies for NBFI, EFAMA stresses that Europe needs more holistic and rigorous analyses to determine where financial stability risks lie. Unfortunately, even though investment funds have proven resilient in recent years despite frequent market disruptions, the consultation focuses on the asset management industry.
EFAMA publishes its latest Monthly Statistical Release for August 2024.
Hailin Yang, Data Analyst at EFAMA, comments: “In August, the market environment remained positive, with all UCITS categories except multi-asset funds showing positive net sales. Money market funds registered the highest net sales, but also ETFs continued to draw solid net inflows.”
The main developments in August can be summarised as follows:
EFAMA responded to ESMA’s consultations on regulatory technical standards and guidelines, which aim to provide EU asset managers with further details on a broad and harmonised list of liquidity management tools (LMTs). As part of the recent AIFMD and UCITS review, these improvements will support our industry’s response to liquidity pressures, both in normal and stressed market conditions, while also protecting the interests of investors.
European asset managers welcome the joint statement from the European Commission, ESMA and the ECB putting a firm foot forward, and ‘accelerating the technical work’ needed to prepare the EU’s T1 transition
The European T+1 Industry Task Force, comprising 21 trade associations involved in European capital markets, was established in 2023 to bring together a diverse group of industry stakeholders who would be impacted by a move to a default T+1 settlement cycle for securities traded and settled in the EU.
The European investment management industry is helping savers achieve their financial goals and build up retirement savings. Investment management is a vital part of the European economy, providing funding for companies and infrastructure projects and contributing to economic growth and job creation across all Member States.
As the voice of European asset management industry, EFAMA strongly welcomes the development of
the EU Taxonomy and its technical screening criteria. We see the Taxonomy as a critical tool to
unleashing the potential of sustainable finance in Europe by assisting issuers, project promoters,
companies, investors, and other financial market participants in identifying truly sustainable economic
activities. We wish to put forward recommendations that aim to improve the usability and integrity of this
framework.
The fund and asset management industry is a highly regulated industry operating under significant and specific legal, regulatory, transfer pricing and tax frameworks.
Pillar 1: Investment funds are structured as tax neutral investment pooling vehicles as a matter of
public policy.
Pillar 2: The role that investment funds play in providing investors with a diversified portfolio and global market access is essential.
In its support of the development and implementation of the Taxonomy Regulation, EFAMA believes that reporting on the level of alignment with the Taxonomy by non-financial and financial undertakings is essential to strengthening market integrity around sustainability issues.
FIA, ISDA, AFME, ICI, AIMA, EBF and EFAMA (together the Associations) welcome the
European Commission's (the Commission) timely and temporary equivalence decision from
21 September 2020 with respect to UK central counterparties (CCPs) and subsequent
recognition decisions by ESMA of CCPs and the recent temporary equivalence decision for
UK Central Securities Depositories (CSDs) under CSDR. Together, these steps have provided
much needed certainty for continued and uninterrupted access to these CCPs and CSDs by

Discover the 6 reasons why your organisation should become a member of EFAMA.
Our members enjoy significant benefits including the opportunity to shape the industry positions, get first-hand access to regulatory and political intelligence, engage with industry peers and policymakers, and take part in EFAMA events.
Our three membership categories cater to the wide range of organisations that make up and support the investment management industry in Europe.