EUROPEAN GROWTH OPPORTUNITY
Collectives: $5.1 Trillion
2004 – 2008 Projected Growth for Key Markets
> Major European Collective and Pension
Sources: 2003 year end Cerulli, Economist Intelligence Unit 2004, 2003 ICI Int’l Data Exchange, Central Bureau of Statistics Switzerland June 2004 and 2002, 2003 German Investment and Asset Management Association (BVI), DFIA June 2004 and State Street estimates.