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HomePerformance and costs of retail investment products in the EU 2019
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This is the first edition of the ESMA ASR series on cost and past performance of retail investment products in the EU. In the EU around 30,000 undertakings for collective investment in transferable securities (UCITS) investment funds are distributed, around 10,000 alternative investment funds sold to retail investors (retail AIFs) and around five million structured retail products (SRPs). UCITS hold 76% of overall share in terms of retail market size compared to 15% and 9% for retail AIFs and SRPs. This report provides a comprehensive overview of the EU markets and, for UCITS, a country-by-country analysis covering the period from 2008 to 2017. As a first edition it also identifies a series of data issues impacting the scope and content of our current analysis. Those include the unavailability of important cost data elements such as a part of distribution costs, transaction costs, performance fees, a lack of data granularity as well as the heterogeneity of data availability and content across Member States. Moreover, no distinction is made between the risk levels of products. We highlight that significant challenges remain, especially in the context of country-by-country analysis. This first edition focuses on UCITS – the most transparent market in terms of cost and performance disclosure. Here we undertake, subject to the limitations highlighted above, a full performance and cost analysis. For retail AIFs and SRPs the report focuses on providing an overview of the respective markets.
- Published:
- Corporate author(s): European Securities and Markets Authority (EU body or agency)
- Themes: Activities of the institutions and bodies , Banks, insurance
- Subject: activity report , alternative investment , financial instrument , financial legislation , financial management , financial services , holding company , investment , investment company , securities , UCITS fund
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| ISSN 2599-8897 | ISBN 978-92-95202-17-7 | DOI 10.2856/09231 | Catalogue number EK-AD-19-001-EN-N |
- Released on EU publications website: