AFG
AFG, the Association Française de la Gestion financière, is the professional body of the French asset management industry and has its head office in Paris. Its members are mainly portfolio management companies, from subsidiaries of large banking and insurance groups to independent boutiques that entrepreneurs have founded.
AFG speaks for its members in dealings with public authorities and with regulators such as the French markets authority. The association watches over professional practice and investor protection, trains the staff of asset managers and promotes Paris as an international financial center for investment management.
Members and membership
AFG has about 400 members, and about 330 of them are management companies that together hold 90 percent of the assets under management in France. Since 2009, AFG has also admitted corresponding members such as law firms, consultants, auditors and data providers, who take part in working groups on single topics. Under article L 531-8 of the French Monetary and Financial Code, every asset management company must join an industry association, and AFG has been a member of the umbrella body AFECEI since 5 September 1996.
Asset management in France in figures
French asset managers held 5.421 trillion euros in mandates and funds at the end of 2025, 8 percent more than the 5.019 trillion euros of the year before. Since the financial crisis of 2008, the assets of the industry have grown by 4.6 percent a year on average. AFG publishes these figures in an annual overview and adds monthly statistics on French funds under the name Stats OPC.
President and board
Philippe Setbon, chief executive of Natixis Investment Managers, chairs AFG and was reelected by the board on 17 June 2025 (in French). Mirela Agache-Durand, Guillaume Dard and Fannie Wurtz are the vice-chairs, and the board of directors includes 25 firms such as Amundi Asset Management, BNP Paribas Asset Management, Carmignac Gestion and Ostrum Asset Management. The staff of the association works under director general Laure Delahousse.
Upcoming fintech and finance events in France
Responsible investment
Every year, AFG publishes an overview of the responsible investment that firms manage in France, based on the categories of the EU disclosure regulation SFDR. These assets reached 2,971 billion euros in 2025, an increase of 4.8 percent on a like-for-like basis after growth of 15 percent in 2024.
Technology and the tokenization of funds
At the beginning of 2020, the AFG board set up a Technological Innovations Committee, which Muriel Faure chairs. In December 2023, the committee published a user guide on the tokenization of fund units and digital asset management. It works with France FinTech and with Pôle Finance Innovation, a branch of Paris Europlace, on industry projects.
Offices in Paris and Brussels
The Paris office of AFG is at 17 square Edouard VII in the 9th arrondissement. A second office on the Avenue des Arts in Brussels handles public affairs with the European institutions, and AFG holds an annual Brussels conference with European policymakers there.
AFG and Finance Loop
French asset managers and many Finance Loop members work on the same questions about tokenized fund units, AI in portfolio management and the European rules of MiCA and DORA. Finance Loop discusses these topics at its events with asset managers, banks and fintechs from France, Germany and other European countries.
Finance Loop is a professional network and has the goal of driving the institutional use of emerging technologies in finance, such as AI, tokenization, stablecoins, and DeFi. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.