French asset management association AFG has found out French employee savings plans have hit all-time high assets under management which amounted to €122.5bn as of 31 December 2016.
The figure is increasing for the fifth consecutive year and is up 4.3% year-on-year versus 31 December 2015 (€117.5bn).
Employee-shareholders funds have accounted for €47.2bn of the whole AUM (i.e. 39%) while diversified funds have reached €75.3bn (61%).
AFG notes the share of SRI funds has risen by 7% yoy to around €24bn and French employees’ assets in solidarity funds have increased by 19% yoy to €6.2bn.
The number of employee savings plans unit holders remains stable to some 10.2 million. In addition, the number of French firms that offer a company savings plan amounted to 305,000 at the end of December 2016 – up 3% yoy – of which 300,000 were small and mid-sized enterprises with less than 250 employees having subscribed to the plan.
Inflows in company and retirement savings plans (PEE and PERCO) have reached €13.7bn over 2016, up 9% yoy while some €14bn outflows have been reported according to AFG’s data (+8.5% yoy)