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06 March 2017

Key figures for asset management: first figures for 2016

The AMF is releasing its first set of key figures for 2016. France had 630 authorised asset management companies at 31 December 2016. The text below is a detailed look at authorisation withdrawals and management companies created in 2016.

630 management companies at 31 December 2016

At 31 December 2016, there were 630 authorised management companies in France, compared with 627 at end-2015. This net figure, which was up slightly year-on-year, reflected the still significant number of new companies created (35). The 32 authorisation withdrawals in 2016 (initiated by stakeholders or the AMF) illustrate a real consolidation movement in the industry, and perhaps more prominently than ever before.

32 withdrawals

The post-crisis effects that were still highly visible in 2015 (55% stopped management activity altogether) were largely minor in 2016. This gave rise to mergers between asset management companies and intragroup restructuring for the overwhelming majority (close to 60%).

35 new management companies

Entrepreneurial firms still represented the lion’s share of new authorisations (60%). As was the case in previous years, real asset classes drove the trend and alone accounted for the large majority of initial authorisations granted (48.5% for private equity, 34% for real estate and slightly less than 6% for securitisation). The remainder mainly consisted of firms developing classic management involving traditional asset classes (8.5%).