In the second part of our analysis, we analyse the asset classes and underlyings which drove the activity in the European market in Q2 2026.

Europe Q2 2026: asset class exposure – market share by sales volumes Source: SRP Equity underlyings remained the dominant component, accounting for 75% of sales. Volumes increased 8.7% year on year (YoY), with equity-linked products generating 83% of the overall market increase. Europe Q2 2026: equity underlyings – 75.5% share/8.7% sales growth/83% contribution to overall growth Source: SRP The scatter chart below shows that the expansion was mostly driven by the two above cat