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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