Asset Allocation in Europe: Reality vs. Expectations

Published in: 


In Europe, capital markets are expected to play a more prominent role in corporate financing, retail/institutional saving/investment and private risk-sharing altogether.

In the current institutional cycle, CMU remains as relevant as ever. However, it needs rethinking at EU level and real commitment from member states. The capacity of capital markets to enhance the resilience of our societies as a whole, especially when confronted with unprecedented shocks, should certainly be given more thorough consideration.

In order to contribute to the public debate, CEPS and ECMI invited relevant stakeholders– policymakers, supervisors, consumer associations, industry representatives, and academics – to take part in a dedicated Task Force on Asset Allocation in Europe: What challenges and opportunities lie ahead?”. A detailed overview of the overall proceedings is available here

The main objective of our initiative was to explore meaningful ways of activating long-term savings and investment channels across the EU, with a focus on households, asset/fund managers, insurers and pension funds, under the overarching theme of sustainability in the real economy. The recent developments related to COVID-19 were also taken into account.

To this end, we invite you to read the analytical sections in the final report as well as the accompanying list of policy and market recommendations.

CHAIRMAN:          Jean-Pierre Pinatton, Member of the Supervisory Board, ODDO BHF

RAPPORTEUR:    Cosmina Amariei, Researcher, ECMI and CEPS (Financial Markets and Institutions)


Disclaimer: The content of this report should be attributed solely to the Rapporteur and not to ECMI, CEPS as institutions or any individual member/expert, observer or guest-speaker. The experts featured in the annex participated in their personal capacity and may not necessarily endorse the report in its entirety or subscribe to the full list of recommendations and/or overall conclusions.

Suggested citation: Amariei, C. (2020). Asset Allocation in Europe: Reality vs Expectations, CEPS-ECMI Task Force Report, Brussels, April 24.