Abstract
Overview
Introduction
This report is most appropriate for companies looking for an overview of the
retail investments markets in order to assess the level of market opportunity
(using our market data and forecasts), regulatory barriers and opportunities,
and level of competition in the market. For more detailed market data please
refer to Datamonitor' s Retail Savings and Investments Interactive Database
2006.
Scope
- Presents competitor market data for retail banks and mutual fund companies;
- Assesses regulatory barriers and opportunities;
- 5 years historic data from 2001-5 and 5 year forecast to 2010.
Report Highlights
The Finnish retail savings and investments sector accounts for 27% of the
total savings and investments market. Within household portfolios, deposits
represent the largest asset class. However, between 2002 and 2005, the
proportional allocation of household assets to mutual funds increased steadily.
In 2005, household mutual fund assets were split among bond funds (47.5%),
equity funds (36.8%), balanced funds (12.1%) and other funds (3.6%). The
removal of wealth tax, effective tax year 2006, is expected to boost future
household investment in funds.
A Government bill submitted in August 2006 proposes amendments to the Real
Estate Funds Act and the Mutual Funds Act. The bill seeks to introduce
supplementary provisions on special mutual funds that mainly invest in real
estate and real estate securities to the Mutual Funds Act.
Reasons to Purchase
- Get an overview of the retail investment market, including past growth and
forecast growth;
- Assess regulatory barriers and opportunities affecting retail investments
in this country;
- Analyze competition from retail banks and mutual fund companies
Table of Contents
- Overview
- Executive Summary
- The Finnish retail savings and investments sector has grown at a
compound annual rate of 6.6% in the last 5 years; however a reduced rate of
growth is forecast between 2006 and 2010
- Between 2001 and 2005, the Finnish retail savings and investments
market experienced compound annual growth of 6.6%, driven primarily by
growth in mutual funds
- Household portfolios will see marginally higher allocations to mutual
funds and equities between 2006 and 2010
- Legislation aimed at improving investor confidence and consumer
protection imposes additional obligations on providers
- The leading Finnish banks and asset management companies control more
than 75% of their respective markets
- The top three banks also lead the Finnish mutual funds sector
- Table of Contents
- Table of figures
- Table of tables
- MARKET OVERVIEW
- Between 2001 and 2005, the Finnish retail savings and investments market
experienced compound annual growth of 6.6%, driven primarily by growth in
mutual funds
- Non-retail assets outstrip retail holdings in all asset classes except
for deposits in 2005
- Deposits account for more than half of the Finnish retail savings and
investments market
- Since 2003, mutual funds have accounted for a growing proportion of
household wealth, primarily at the expense of deposits
- MARKET FORECASTS
- Household portfolios will see marginally higher allocations to mutual
funds and equities between 2006 and 2010
- Between 2006 and 2010, mutual funds will continue to account for an
increasing proportion of household wealth, but growth will decline to 7.7%
- MARKET REGULATION
- Legislation aimed at improving investor confidence and consumer
protection imposes additional obligations on providers
- The Finnish Financial Supervision Authority (FIN-FSA) regulates the
savings and investments sector
- For banks and investment companies, Basel II capital adequacy
requirements imply additional investment in risk management expertise and
in IT systems to calculate risk
- Recent legislation improves consumer and investor protection
- Implementation of the Market Abuse Directive introduces new reporting
requirements
- Financial conglomerates face additional supervisory requirements
- New standards establish rules on contracts and financial services
codes of conduct
- Upcoming EU legislation (UCITS directive and MiFID) facilitates market
development and enhances consumer protection
- Anti-money laundering legislation implies an additional administrative
burden for banks
- Proposed legislation will affect savings banks and mutual funds
- New EU legislation promotes competition among financial services
providers
- COMPETITIVE MARKET STRUCTURE
- The leading Finnish banks and asset management companies control more
than 75% of their respective markets
- Co-operative banks comprise the largest segment of the Finnish banking
sector, by number
- The top 5 banks control 89% of the banking market, measured by
customer deposits
- The top 5 asset managers control 78% of the mutual funds market
- The majority of Finnish mutual funds are equity funds
- MARKET LEADERS
- The top three banks also lead the Finnish mutual funds sector
- The Nordea Bank Finland Group leads the Finnish banking sector; Nordea
Fund Management Finland is the mutual funds market leader
- The OP Bank Group trails the market leader in the Finnish retail
banking market; OP Fund Management ranks third in the mutual funds sector
- Sampo ranks third among banks; Sampo Fund Management Ltd is the second
largest asset manager
- The Finnish Savings Bank Group is the fourth largest Finnish banking
group by customer deposits; SEB Gyllenberg Rahastoyhtiö Oy ranks fourth
among asset managers, by AuM
- The Aktia Savings Bank Group rounds out the banking market leaders;
Pohjola Rahastoyhtiö Oy has the fifth-highest mutual funds market share
- APPENDIX
- Asset manager / Asset management company
- Asset allocation fund
- Bank
- Collective Investment Scheme
- Friendly society
- Fund of funds
- Hedge fund
- Investment company
- ISA
- Non-retail market
- Retail market
- SICAF
- SICAV
- UCITS
- Further reading
- Savings and Investments SPP
- Interactive Databases
- Reports
- Related Global Wealth Service SPP Reports
- Interactive Databases
- Market Reports
- Strategic Insight Reports
- Wealth Management Competitor Tracker
- Ask the analyst
- Datamonitor consulting
- Disclaimer
- List of Tables
- Table 1: Total Savings & Investments segmented by retail v
institutional, EURm, as at Dec 2005
- Table 2: Total Savings & Investments segmented by retail v
institutional, in percentages, as at Dec 2005
- Table 3: Retail Savings & Investments, segmented by asset class,
EURm, as at Dec 2005
- Table 4: Retail Savings & Investments, segmented by asset class,
EURm, 2001 - 2005
- Table 5: Retail Savings & Investments, segmented by asset class,
in percentages, 2001 - 2005
- Table 6: Retail Savings & Investments, segmented by asset class,
EURm, 2006 - 2010
- Table 7: Retail Savings & Investments, segmented by asset class,
in percentages, 2006 - 2010
- Table 8: Number of banks segmented by type, as at Dec 2005
- Table 9: Top 5 banking groups by customer deposits, as at Dec 2005
- Table 10: Top 5 asset management companies by mutual fund assets under
management (AuM), as at Dec 2005
- Table 11: Number of mutual funds, segmented by type, as at Dec 2005
- List of Figures
- Figure 1: Retail assets account for more than three-quarters of
deposits, but less than half of all other asset classes in 2005
- Figure 2: Deposits and equity together represent 86% of retail savings
- Figure 3: At 26%, compound annual growth in retail mutual funds
outstripped all other asset classes between 2001 and 2005
- Figure 4: The proportional decline in household assets in deposits
will be offset by increases in assets in mutual funds and equities
- Figure 5: Finnish commercial banks account for 3% of the market, by
number
- Figure 6: Nordea Bank Finland Group leads the banking sector, with a
market share of 39%
- Figure 7: Nordea Fund Management Finland accounts for 30% of the
mutual funds market
- Figure 8: Equity funds and asset allocation funds together account for
71% of the market, by number
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