The French Financial Markets Authority has published its report on key figures for France’s asset management sector in 2023, based on annual information sheets and supervisory control reports submitted by portfolio management companies. The report provides a consolidated view of market structure, financial performance, control functions and own-funds positions. As of 31 December 2023, France had 700 authorised portfolio management companies and 23,917 full-time equivalent employees, up 8.6% year on year, with growth mainly driven by entrepreneurial firms while bank and insurance subsidiaries remained dominant. Assets under management rebounded to EUR 4,970bn, while operating revenues reached a record EUR 21.6bn, up 3.6%, but aggregate operating profit fell 7.5% as operating expenses increased 6.7% versus 2022 in a context of inflation and ongoing geopolitical tensions. Control and risk resources totalled 179,145 man-days for compliance and internal control (3.2% of declared headcount) and 144,633 man-days for risk management (up 15.2% from 2022). Total own funds declared were EUR 6.56bn, with 27 firms showing an own-funds shortfall against applicable requirements and 506 firms reporting a capital buffer of at least 30% above the required level.
France Autorite des marches financiers 2025-03-01
French Financial Markets Authority publishes 2023 asset management key figures with 700 firms and EUR 4,970bn under management
The French Financial Markets Authority's 2023 report highlights a rebound in assets under management to EUR 4,970bn and record operating revenues of EUR 21.6bn, despite a 7.5% decline in aggregate operating profit due to rising expenses. Employment increased by 8.6%, driven by entrepreneurial firms, while control and risk management resources expanded significantly. Additionally, 27 firms reported an own-funds shortfall, whereas 506 firms maintained a capital buffer of at least 30% above requirements.