ASSET ALLOCATION IN EUROPE: What challenges and opportunities lie ahead?

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In the coming years, asset allocation will be impacted by the changing macroeconomic environment, evolving investor demographics, technology and regulation. The purpose is to contribute to the public debate about the need to facilitate European households’ access to savings products with stable returns over time, and to promote long-term investment across the EU through more capital markets-based financial intermediation.


This Task Force aims to engage a diverse group of stakeholders in a structured dialogue to:

  1. identify the factors at macro- and micro- level that will drive investment decisions;
  2. analyse their impact on households/retail investors and on different categories of financial intermediaries; and
  3. put forward a list of recommendations to strengthen the long-term savings & investment channel in Europe.                                   


    MEETING 1 - 14 June 2017

    FOCUS: long-term investment and asset managers

    More information

    MEETING 2 -  24 October 2017    

    FOCUS: insurance companies and pension funds                        

    More information

    MEETING 3 - January 2017                                        

    FOCUS: retail investors 

     MEETING 4 -  March 2018                                     

    FOCUS: Review of the draft final report

    MEETING 5 - May 2018                                        

    FOCUS: Launch of the report



    •  Jean-Pierre Pinatton, Supervisory Board, Oddo BHF


    • Karel Lannoo, CEO, CEPS
    • Cosmina Amariei, Researcher, ECMI
    • Apostolos Thomadakis, Researcher, ECMI


    • Anders Damgaard, Chief Financial Officer, PFA Pension
    • Marco Lamandini, Professor of Commercial Law, Università di Bologna
    • Jesper Lau Hansen, Professor of Financial Markets Law, University of Copenhagen
    • Barbara Matthews, Managing Director, BCM International Regulatory Analytics
    • Luis D.S.  Morais, Professor of Financial Regulation, EU Law and Competition Law, University of Lisbon Law School 
    • Guillaume Prache, Managing Director, Better Finance
    • Rhodri Preece, Head of Capital Markets Policy, Standards and Advocacy, EMEA, CFA Institute
    • Ole Stæhr, Executive Advisor, Nordea Wealth Management


    Participation is limited to members of the Experts Group, the broader Task Force, observers and selected invitees. The final report will be launched at a public event in Brussels, open to the press, in the presence of high level policymakers and market participants.   




    Please do not hesitate to contact Cosmina Amariei by email at: or by phone on +32 222 93 955.