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Results of the two "risk-averse" and "risk-loving" mystery shopping campaigns conducted under MIFID 2

Published on September 2, 2019

Two campaigns were conducted between December 2018 and February 2019; a so-called "risk-loving" campaign covering potential clients or new clients with relatively high incomes and capable of sustaining losses, and the other so-called "risk-averse" campaign covering potential client or new client profiles holding less liquid assets and displaying a more pronounced aversion to risk. These mystery shopping campaigns have been organised recurrently since 2011.

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Key figures for asset management in 2017 - Management company financial data and profitability

Published on January 18, 2019

The operating profit of the French asset management industry rose sharply in 2017 after falling slightly in 2016, The total in 2017 came out at €3,539 million compared with €2,485 million in 2016. The positive trend was the result of growth in operating revenue (up 11.4% year on year), which, all other things being equal, was stronger than growth in operating expenses (up 8.1% year on year). This report overviews the financial data and profitability of asset management companies in 2017.

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Key figures for asset management in 2017 - Own funds of asset management companies

Published on January 18, 2019

Own funds are a key indicator of the financial health and sustainability of the business activity of asset management companies(1). In an encouraging sign, at 31 December 2017 just 22 asset management companies had an own funds shortfall relative to the applicable regulatory requirements, compared with 28 in 2016. At the same time, the number of asset management companies with a capital cushion at least 30% higher than the required level increased 5.1% between 2016 and 2017. This report overviews the own funds and financial health of French asset management companies at 31 December 2017.

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Key figures for asset management in 2017 - Control systems in asset management companies

Published on January 18, 2019

The number of employees working in compliance and internal control in the French asset management industry was practically stable in 2017. The number of person-days decreased slightly, by 0.1%, from 125,010 to 124,920 between 2016 and 2017. Following a 4.5% increase in the total workforce of management companies, the share of the workforce working in compliance and internal control contracted slightly (by 0.1% percentage points between 2016 and 2017). Following is our review of the organisation of control systems at asset management companies in 2017.

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Key figures for asset management in 2017 - Management company assets

Published on October 26, 2018

Assets managed by management companies in France amounted to €3,838 billion euros as at the end of 2017, representing a further increase (4.5%) compared with 2016. The French asset management industry, boosted by favourable stock markets and a volatility index and key rates experiencing record lows, posted an increase in assets under management driven by the growth in assets under collective management. This report presents an overview of the volume and nature of the assets managed by asset management companies in 2017.

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Key figures for asset management in 2017: profile of management companies

Published on October 26, 2018

The French asset management industry has seen sustained growth and continues to offer professional opportunities in a slightly more favourable European environment despite the numerous instances of geopolitical tensions during 2017. The dynamism in the sector stems primarily from the increase in the number of new boutique firms created. This report focuses on the profile of management companies.

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Key figures for asset management in 2017: overview of asset management companies

Published on October 26, 2018

The number of authorised asset management companies in France stabilised, amounting to 630 at the end of 2017.

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Results of "Online investment subscription" mystery shopping campaign

Published on July 10, 2018

At the end of 2017, ahead of the coming into effect of the Markets in Financial Instruments Directive II (MiFID II), the AMF wanted to gain a clear picture of the practices of internet operators, online banks and fintech companies, and to measure the progress that traditional retail banks have made in relation to the subscription of online investments.

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The AMF publishes the summary of its inspections relating to the marketing of various financial instruments among a population of an advanced age

Published on July 10, 2018

As part of its new #Supervision2022 strategy, at the beginning of the year the AMF announced its intention to conduct more brief and thematic inspections as well as its willingness to share the lessons learned from these exercises. Hence today it is releasing the summary of inspections carried out between the end of 2016 and the end of 2017 on the marketing of financial instruments based on rules imposed by the Markets in Financial Instruments Directive in effect since 1 November 2007.

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Fees charged in 2015 by UCITS distributed in France

Published on February 6, 2018

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Head of publications: The Executive Director of AMF Communication Directorate.
Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02