Discretionary mandate assets value in European countries 2021| ��ƽ��

Value of discretionary mandates assets in Europe at the end of 2021, by country (in billion euros)

Characteristic	Value of assets under management in billion euros
United Kingdom	6,583
France	1,976
Switzerland	1,251
Italy	1,083
Netherlands	1,047
Germany	683
Denmark	226
Belgium*	170
Spain**	110
Czechia	23
Portugal	22
Hungary	10
Greece	6
Turkey	3
Slovenia	2
Croatia	1
Bulgaria	0.3
Other	787

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Release date

December 2022

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Region

Europe

Survey time period

2021

Special properties

EFAMA European member associations

Supplementary notes

* Figure for Belgium includes unit linked insurance products and pension funds.

** Spanish data for discretionary mandates is estimated by INVERCO based on a subset of 13 asset management companies.
The source provides the following information: "Discretionary mandates give the asset management company the sole authority to buy and sell assets and execute transactions on behalf of the client, which can be a pension fund, insurance company or other institutional client such as non-financial companies, banks, government, local authorities, endowments and others. The investment strategy of the portfolio is agreed with the client, including the risk profile and asset allocation. The asset manager then manages the account within the mandate set out by the client."

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As of 2021, the United Kingdom was by far the country in Europe with the largest value of discretionary mandate assets. That year, total discretionary mandate assets managed in the United Kingdom were worth roughly 6.5 trillion euros, more than three times the value of the discretionary mandate assets located in France.