Europe’s fund industry facing dispersal as Brexit looms
Whatever the outcome of the Brexit process now under way, the shape of the asset management industry in Europe is set to change substantially, a report by the CFA Institute has found.
Whatever the outcome of the Brexit process now under way, the shape of the asset management industry in Europe is set to change substantially, a report by the CFA Institute has found.
A European watchdog has urged a crackdown on investment firms setting up ‘letter box’ entities across the continent in the wake of the Brexit vote.
Asset managers in Europe must reduce the cost of their products, Steven Maijoor, chair of the European Markets and Securities Authority (Esma) has warned.
Campaign group Better Finance has published the names of asset managers running so-called closet trackers: funds that closely hug an index. Some large asset managers are particularly well-represented on the list.
The widespread distribution models in many European countries are not understood properly by the European Securities & Markets Authority (Esma), making parts of its new product governance rules “unworkable” for financial advisers, according to Fecif’s secretary general Paul Stanfield.
Mifid II is a big concern for around three-quarters of global asset managers, who think regulators need to provide better guidance and tools to navigate the increasingly complex landscape, according to State Street Corporation.
The European Securities and Markets Authority (ESMA) considers market and credit risk in Europe’s equity and bond markets to be ‘very high’, it said in its latest risk outlook. It noted Brexit may increase risks further along the line.
The UK’s Chartered Institute for Securities & Investments (Cisi) has published a guide to help firms meet the new European Securities and Markets Authority (Esma) regulations.
The European Securities and Markets Authority’s (Esma) investigation into funds marketing themselves as active but in reality are passive, or ‘closet trackers’, underestimates the extent of the problem, according to UK investment boutique SCM Direct.
With returns from European equities distinctly harder to come by than during the QE inspired climb last year, active funds falling short in active share terms are going to find investors less forgiving.
The Cayman Islands Monetary Authority (CIMA) said it is confident the European Securities and Markets Authority (ESMA) would complete its assessment of a second wave of nations for inclusion into the AIFMD passport system by June 30.
The European Securities and Markets Authority (ESMA) is seeking input on the technical implementation of a regulation to improve the governance and control of financial market benchmarking.