188 billion euros. New record. Employee savings invested in your PEE or PER continue to grow: +15.7% again in 2023. This market, however, remains one of the most concentrated in the financial universe: the Crdit Agricole group, which manages Amundi, and Natixis together accounts for more than half of the sector.
20 billion euros in additional payments, up 6.9% in 2023. An overall outstanding amount which climbs by 15.7%, also helped by the very good health of the financial markets, to almost 188 billion euros. Increase of 5%, also, for the number of equipped companies, with an increase which is confirmed on the side of SMEs and even in companies with less than 10 employees (+5.3%).
For corporate retirement savings, it’s even better: Overall outstanding collective corporate retirement savings will peak at 29.7 billion euros at the end of 2023, we read in the press release from the AFG (French association of financial management). Employees have saved 4 billion euros for their retirement, an increase of +14.3% compared to 2022. The collective PERs created since the Pacte law of 2019 concern more than 3 million employee savers (+16.5% over a year). Clearly, all the signals are green for employee savings!
Constantly growing, year after year, this sector remains largely dominated by a handful of managers. Or even two groups, in particular: the Crdit Agricole group, which oversees Amundi, and the BPCE group, on which Natixis AM depends on the fund management side and Natixis Interpargne on the account keeping side.
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To manage your employee savings, two professions are involved. Your employer actually chooses a account keeper: it is the organization that allows you to connect to a personal space; it is through it that you choose the funds in which to invest, etc.
And you have the asset manager, the one who manages the funds in which you invest. In theory, you can invest in the funds of several managers. In fact, you most often have access to a small panel of around ten funds, all managed by the same group… and often by a subsidiary of the group which also manages account management.
employee savings: the astonishing management of your plan
At the end of December 2023, the Crdit Agricole group is number 1 in account management according to annual statistics from the AFG: 3.8 million plans managed, for 12.3 million employee savings plans in total across the whole of the market. Natixis Interpargne? 3.3 million accounts. Between them, they account for almost 60% of the account management. Far ahead of Crdit Mutuel ES (1.3 million accounts), Socit Generale (1.2 million), BNP PAribas E&RE, Epsens…
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In asset management, the domination of the Crdit Agricole group is even clearer, through its asset manager Amundi: 86 billion euros under management on its various funds… for 188 billion euros in overall assets. . Second? Natixis AM and its 36 billion euros.