02.02.2011
10:00

Rethinking Asset Management: Second Meeting

Published in 
Task Forces
CEPS - Centre for European Policy Studies 1 Place du Congrès / Congresplein 1000 Brussels

Academic experts, public officials and industry representatives met again to discuss the future of asset management at CEPS-ECMI in Brussels. The focus this time was on depositaries and distribution, given the forthcoming revision of UCITS and the proposals for packaged retail investment products (PRIPS). It was felt that the new rules on depositaries were very helpful in clarifying their duties and responsibilities but still needed some refinement by ESMA. It may be that asset managers have not yet fully understood the impact of the new rules for their businesses. The effects of these rules were also discussed with regard to investments in emerging economies. As to distribution, it was felt the effects of the third country rules in the alternatives Directive could be negative for some investors. In addition, private equity was compared to other products, evidencing the differences in distribution across the alternatives space.

About the meeting

Members of the task force will meet on Wednesday 2nd of March at CEPS to discuss some of the most relevant topics for the asset management industry. Please follow the link (Rethinking Asset Management) to learn more about the task force and download the prospectus. Jean Baptiste de Franssu, president of EFAMA and CEO of Invesco Europe will chair the meeting. The task force is kindly sponsored by the CFA Institute.

Topics of this meeting

  • Part I: Depositories
    • What are the operational consequences of the new depository rules?
    • What can be expected in the revision of UCITS?
  • Part II: Outsourcing
    • What are the consequences of the growth in outsorcing?
    • What are the risks involved? Is regulation fit for this phenomenon?
    • Do we need a passport for depositaries/asset servicing firms?
  • Part III: Distribution
    • Where is the frontier between retail and professional investors? And what does it mean in terms of operational processes?
    • What are the advantages of open architecture a solution?
    • Are fees an appropriate pricing mechanism?
    • What will be the impact of PRIPS? Can we improve the distribution without jeopardizing the involvement of investors during the design phase?
    • Due diligence procedures.
    • Exist conditions for investors. 

Arriving to the meeting

Participants will be welcomed from 10:00 at CEPS premises in Brussels. The meeting is scheduled to finish at 16:30

Queries

For any doubts or feedback, please contact the person responsible for this task force Mirzha de Manuel at mirzha.demanuel@ceps.eu