Task Force on Asset Allocation in Europe

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Many factors – changing economic/financial conditions, evolving demographics and regulatory as well as technological developments – will impact asset allocation in the coming years. The purpose is to contribute to the public debate about the need to facilitate European households’ access to savings/investment 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 in order to: 1) identify the factors at macro- and micro- level driving 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 channels in Europe. 


Chairman:           Jean-Pierre Pinatton, Supervisory Board, Oddo BHF

Rapporteurs:       Karel Lannoo, CEO, CEPS and Cosmina Amariei, Researcher, ECMI

This Task Force is organised around dedicated meetings (panel debates, roundtable discussions, presentations). In order to bring more transparency into the general proceedings, summary reports are published after each meeting. Targeted bilateral consultations and in-depth research  are conducted in parallel.

The structure of the meetings as well as the drafting process are based on an independent agenda. The content of the final report is attributed solely to the rapporteurs and not to ECMI, CEPS or any individual member of the Task Force. The external experts joined the Task Force in their personal capacity and do not necessarily endorse the policy recommendations and/or overall conclusions.



MEETING 1 - 14 June 2017

FOCUS: 1) short vs long term investment; 2) asset managers

Agenda  Report  More info

MEETING 2 -  24 October 2017    

FOCUS: 3) insurance companies; 4) pension funds

Agenda  Report  More info

MEETING 3 - 20 March 2018                                        

FOCUS: 5) retail investors; 6) sustainable finance

Agenda  More info

APRIL to JULY 2018

FOCUS: Drafting of the Final Report & Consultation


FOCUS: Review of the Final Report


           Launch of the Final Report  


These are closed-door meetings, with the participation being limited to the members of the experts group and broader task force, academic/policy/industry observers and selected invitees. 


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