The countries with the highest levels of fund ownership are Germany, the United Kingdom, France, the Netherlands and Italy. The four largest European countries feature in this list, reflecting the relative sizes of their economies and populations. The Netherlands belongs to this group due to the size of its occupational pension funds, which tend to invest a significant share of their portfolios in investment funds.
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European Fund and Asset Management Association
Source: EFAMA: EFAMA ANNUAL REVIEW, June 2019 – June 2020, page 28. Download report HERE.