On April 7, 2026, AFM published an analysis of the use of AI in the Dutch asset management sector. AFM defines asset management companies as parties such as investment companies, fund managers, depositories, proprietary traders, and trading platforms.
AFM notes that asset managers are increasingly adopting advanced self-learning algorithms and other AI applications. An analysis of 323 institutions shows that 53% of asset managers are already using AI or plan to do so within a year. Large fund managers and proprietary traders in particular are leading the way in AI adoption.
AFM emphasizes that asset managers need to be transparent about the role of AI in their investment policies. The use of AI offers opportunities, but also risks. Parts of the sector remain unprepared for these risks. 26% do not have a policy regarding the use of AI, and 35% have no technical and/or procedural controls over the use of AI. And for generative AI, this was the case for 72% of participants. There is also room for improvement in the ethically responsible use of AI, with 54% not having an AI-specific ethics handbook or code of conduct.
Financial institutions have a responsibility to carefully implement AI. Current existing rules for controlled and ethical business operations also apply to AI applications (and their use). AFM expects asset managers to proactively identify and manage the risks associated with the development and use of AI, both in their day-to-day operations and investment decisions. The April 7 report also refers to the AFM and DNB’s previous joint report published in 2024. The 2024 joint report can be found here.
AFM recommends establishing clear responsibilities in the development and implementation of AI solutions, documenting decisions regarding AI models, and implementing technical or procedural controls. AFM will continue to focus on managing the risks associated with the use of AI by asset managers. This includes investigating how AI applications are deployed and monitored.
Read the press release and full report here.
