
Given the current economic situation around the globe it was no surprise that the European fund industry faced declining assets under management over the course of the year 2022 so far, as the geopolitical situation in Europe, the still ongoing COVID-19 pandemic, disrupted delivery chains, increasing inflation, and interest rate hikes put some pressure on the securities markets. Within this environment, the assets under management in the European fund industry decreased from €15.3 tr (as of December 31, 2021) to €13.3 tr at the end of Q3 2022. While ETFs held €1.2 tr, or 9.23% of the assets under management