Funds that closely track specific benchmarks or indices are expected to account for around a quarter of Europe’s total assets under management by 2025. BlackRock, Lyxor Asset Management and DWS are among the money managers predicted to benefit most from the increase.

According to a report from Moody’s, the rating agency, assets managed by passive funds will represent 22% of Europe’s total assets under management, up from 14% at the end of 2017. This prediction is its base-case scenario. Under its upside scenario, passive funds will increase their market share of European assets to 27% by 2025.