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Fund houses increase focus on private banks

European asset managers will focus more on private banks for fund distribution, according to KNEIP.

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A survey of 47 European asset managers, administrators and promoters, revealed that 42.9% of respondents planned to increase their use of private banks during the next 12 months (up by 14% from 2010) and 34.3% expected to focus more on direct sales.

“The implementation of new regulation such as Ucits IV is pushing asset managers to forge closer relationships with investors as indicated by the increased focus on direct sales,” said Bob Kneip, chief executive officer of KNEIP.

“The rise in private bank distribution channels suggests that some asset managers are increasingly targeting high net worth individuals as the recovery from the financial crisis stabilises.”

Other findings from the survey were that:

  • 94% of respondents expect that Ucits IV will have the greatest impact on the fund management industry in the next 12 months – up from 83% in 2010;
  • 74.3% said Europe remains the main market for investor demand – down by 9% from last year.

The KNEIP survey was conducted during a four-week period in April.

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