The pan-European investment platform market grew by more than €1tn in 2024, with assets under administration (AUA) hitting €6.2tn by the end of the year, according to Platforum’s European Fund Distribution: Platforms report, published yesterday. This growth was driven by market gains, as well as net inflows into UCITS funds – reversing 2022 outflows.
B2B platform AUA has grown to 32% of UCITS assets under management – up from just 19% in 2016. Institutional platform assets were up 21% last year; while adviser platforms (B2B2C) grew even faster, up 25% to €1.7tn, fuelled by consolidation in the French and UK advice markets and platform acquisitions.
Some European retail investors have been increasing their exposure to private markets, but development remains in early stages – currently hindered by a lack of cross-border standards and liquidity concerns and so largely confined to high-net-worth individuals. Alternatives managers are mainly reaching retail investors through semi-liquid funds.
Meanwhile, ETFs are increasingly in the spotlight – especially in continental Europe. Platform-held ETF assets and flows are rising, marking a significant shift for a platform ecosystem historically centred around mutual funds and retrocessions.
We recently published our European Fund Distribution: Platforms report. For more information, please get in touch.