29/03/2011
By Matt Ritchie
The European Fund and Asset Management Association (EFAMA) has announced it has seen corporate membership surge by around 20% over the last six months.
Recent additions to the association’s membership include Baillie Gifford & Co., Banque Privée Edmond de Rothschild SA, F&C Asset Management plc, Garanti Asset Management, Investec Asset Management Limited, La Banque Postale Asset Management and Man Group.
The last month’s expansion has seen the association’s membership grow to 53 members as of March.
EFAMA has also announced it has recently created an associate membership category, which since introduction in September has added 17 members. The new category caters for those with direct responsibility for asset management, as well as the providers of key services, advice and infrastructure to the industry across Europe.
Welcoming the latest members to the association, EFAMA director general Peter De Proft said he was pleased with the membership growth, which would bolster the support and engagement EFAMA receives from the national associations and existing corporate members.
“Their contribution will be invaluable as we seek to broaden our industry representation and the expertise upon which we can draw. With the centre of regulation shifting towards Brussels, it is important that a broader range of stakeholders understand the impact of new regulations as well as provide greater technical input to their formulation. This will lead to better regulation at national and cross-border levels,” De Proft said.
EFAMA said it has 26 national association members and one observing national association in addition to corporate and associate members. Through its membership base it represents a total of €13.5 trillion, of which €8 trillion is invested in 53,000 funds from 23 EU Member States and Liechtenstein, Norway, Switzerland and Turkey.
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