Since 2014, the fund subsidiaries of banks and insurance companies recorded large inflows while independent asset managers had to deal with lower inflows or even net outflows, shows an analysis of mutual fund sales pursued by FONDS professionell based on BVI data. Between 2008 and 2012, dependent asset managers suffered from net outflows, while investors were favouring and investing massively in the products of independent asset managers. However, since 2013, the asset management subsidiaries of bank and insurance companies were able to recover and could attract high inflows in 2014 and 2015.
The analysts at Cerulli Associates could confirm a similar picture for Europe: Since 2014, only a third of fund inflows were invested into the products of independent asset managers. Between 2009 and 2013, they have received 90 percent of inflows.