Industry Statistics and Trends
Trust & Fund Activities in Europe key trends
Passive investing's popularity in Europe skyrockets.
Low-cost, sustainable and hands-off investment strategies, like passive and ESG funds, are resonating with today's investor crowd.
European investors shift to passive funds.
They're being drawn in by the low-cost, market-average returns that passive funds offer. The surge in demand for sustainable ESG strategies is boosting passive investing's appeal even more.
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Trust & Fund Activities in Europe
Industry Revenue
Total value and annual change from 2012-2030. Includes 5-year outlook.
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Trust & Fund Activities in Europe market size (2020-2025)
Industry revenue has grown at a CAGR of 1.7 % over the past five years, to reach an estimated €28.6bn in 2025.
Trends and Insights
Investors shift from actively managed funds to passive investment strategies
- Trying to beat the market is no longer the focus of many investors; they’re instead opting for passive or tracker funds, which follow a stock index and deliver returns in line with the market average.
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Trust & Fund Activities in Europe outlook (2025-2030)
Market size is projected to grow over the next five years.
Investment managers ramp up allocations towards ETFs
- The passive ETF market currently dominates the wider ETF space. According to market researcher Cerulli, in the short term, 92% of the Italian and Spanish private banks expect their ETF allocations to ramp up slightly to accommodate growing demand. However, active ETFs have been gaining serious momentum. According to Janus Henderson, active ETFs still only make up 2.7% of the European ETF market. However, markets have seen growing demand for active ETFs, driven by the adoption of innovative active core and high-conviction active ETFs.
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Revenue
€28.6bn
Employees
51,461
Wages
€X.Xbn
European Leaders & Laggards
Top 5 Countries
Bottom 5 Countries
* CAGR values are for the years 2020-2025.
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Biggest companies in the Trust & Fund Activities in Europe
| Company | Market Share (%)
2025 | Revenue (€m)
2025 | Profit (€m)
2025 | Profit Margin (%)
2025 |
|---|---|---|---|---|
Blackrock Inc | 18,218.0 | 7,112.0 | 39.0 | |
Vanguard Group Inc | 11,824.0 | 3,551.0 | 30.0 | |
Schroders plc | 3,952.0 | 821.0 | 20.8 |
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Trust & Fund Activities in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Trust & Fund Activities industry in Europe in 2025?
The market size of the Trust & Fund Activities industry in Europe is €28.6bn in 2025.
How many businesses are there in the Trust & Fund Activities industry in Europe in 2025?
There are 5,183 businesses in the Trust & Fund Activities industry in Europe, which has grown at a CAGR of 1.1 % between 2020 and 2025.
Has the Trust & Fund Activities industry in Europe grown or declined over the past 5 years?
The market size of the Trust & Fund Activities industry in Europe has been growing at a CAGR of 1.7 % between 2020 and 2025.
What is the forecast growth of the Trust & Fund Activities industry in Europe over the next 5 years?
Over the next five years, the Trust & Fund Activities industry in Europe is expected to grow.
What does the Trust & Fund Activities industry in Europe include?
Equity and Fixed income are part of the Trust & Fund Activities industry in Europe.
How competitive is the Trust & Fund Activities industry in Europe?
The level of competition is moderate and steady in the Trust & Fund Activities industry in Europe.
Related Industries
This industry is covered in 37 countries
Table of Contents
About this industry
Industry definition
The Trust and Fund Activities industry includes legal entities organised to pool securities or other financial assets, without managing, on behalf of shareholders or beneficiaries. The portfolios are customised to achieve certain investment characteristics, like diversification, risk, rate of return and price volatility.
Related Terms
ASSETS UNDER MANAGEMENT (AUM)PASSIVE INVESTINGEXCHANGE-TRADED FUND (ETF)What's included in this industry?
EquityFixed incomeAlternativesBalancedCompanies
Blackrock IncVanguard Group IncSchroders plcIndustry Code
643 - Trusts, funds and similar financial entities in Europe
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Performance
Key Takeaways
Investors shift from actively managed funds to passive investment strategies
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Revenue Highlights
Trends
- Revenue
- 2025 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Trust & Fund Activities in Europe industry (2012 -2030)
- Employees in the Trust & Fund Activities in Europe industry (2012 -2030)
- Business in the Trust & Fund Activities in Europe industry (2012 -2030)
- Profit in the Trust & Fund Activities in Europe industry (2012 -2030)
Analysis
What's driving current industry performance in the Trust & Fund Activities in Europe industry?
Outlook
Analysis
What's driving the Trust & Fund Activities in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Trust & Fund Activities in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Trust & Fund Activities in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Higher yields draw investors towards fixed income. Higher base rates have ratcheted up yields, supporting capital inflows towards bond index funds and ETFs.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Trust & Fund Activities in Europe industry's products and services performing?
Analysis
What are innovations in the Trust & Fund Activities in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Trust & Fund Activities in Europe industry?
International Trade
Highlights
- Total Imports into Europe
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2025)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2025)
- Share of Total Industry Enterprises by Region (2025)
- Share of Total Industry Employment by Region (2025)
- Share of Total Industry Wages by Region (2025)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2025)
- IVA (2025)
- Enterprises (2025)
- Employment (2025)
- Exports (2025)
- Imports (2025)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Established players hold significant market share. Large passive fund management firms like BlackRock, Vanguard and State Street hold strong brand recognition and have established trust among investors, propping up demand for their services.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2020-2025)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2025)
- Revenue (2025)
- Profit (2025)
- Profit Margin (2025)
Data Tables
- Countries of operation for Blackrock Inc
- Countries of operation for Vanguard Group Inc
- Countries of operation for Schroders plc
- Countries of operation for State Street Global Advisors Inc
- Countries of operation for Legal & General Investment Management Ltd
- Countries of operation for DWS Group GmbH & Co KgaA
- Countries of operation for UBS Asset Management AG
- Countries of operation for HSBC Holdings plc
- Countries of operation for Amundi Group
- Countries of operation for Invesco Asset Management Ltd
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Regulations and transparency shape Europe’s passive investing market. Regulatory changes, especially those promoting fee transparency, are driving investors and institutions like pension funds towards cost-efficient passive strategies.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Trust & Fund Activities in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
The growing popularity of passive investing supports profit. Its low cost and ease of use has driven an inflow of capital towards passive investment strategies in recent years, propping up profitability.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Trust & Fund Activities in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2015-2030)
- Imports/Demand (2015-2030)
- Exports/Revenue (2015-2030)
- Revenue per Employee (2015-2030)
- Wages/Revenue (2015-2030)
- Employees per Establishment (2015-2030)
- Average Wage (2015-2030)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and bottom five countries listed for each:
- Revenue Growth (2025)
- Business Growth (2025)
- Job Growth (2025)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2025)
- Imports/Demand (2025)
- Exports/Revenue (2025)
- Revenue per Employee (2025)
- Wages/Revenue (2025)
- Employees per Establishment (2025)
- Average Wage (2025)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2015-2030)
- IVA (2015-2030)
- Establishments (2015-2030)
- Enterprises (2015-2030)
- Employment (2015-2030)
- Exports (2015-2030)
- Imports (2015-2030)
- Wages (2015-2030)
Methodology
Where does IBISWorld source its data?
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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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France
Italy
Spain