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FUND DISTRIBUTION. Challenges and success factors. Distribution environment. INCREASED REGULATION UCITS V, AIFMD, MiFID II, RDR, Basel III, Solvency II, Dodd Frank, Fatca SEGREGATION BETWEEN PURE DISTRIBUTION AND PURE ADVICE Advice investors investing via platform or intermediary.

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Presentation Transcript
fund distribution

FUND DISTRIBUTION

Challenges and success factors

distribution environment
Distribution environment

INCREASED REGULATION

UCITS V, AIFMD, MiFID II, RDR, Basel III, Solvency II, Dodd Frank, Fatca

SEGREGATION BETWEEN PURE DISTRIBUTION AND PURE ADVICE

Advice investors investing via platform or intermediary.

Distributors go from product resellers to manufacturers to keep their charging structures

RECIPROCITY BETWEEN EUROPE AND EMERGING MARKETS

“Reciprocity Agreements” enabling the distribution of European funds in selected emerging markets

PENSION SAVINGS RISKS NOT FULLY TRANSFERRED TO THE INDIVIDUAL

Asset Managers partnering with insurers to meet return requirements on pension products

REGULATORY LEVEL PLAYING FIELD COMPETING VS SUBSTITUTE PRODUCTS

PRIPs (Packaged Retail Investment Products) not enough. Better time to market, fit to investor needs

INFORMATION AND TRANSPARENCY

Publicly available information, social media, connectivity, investors challenge their advisers

distribution models
Distribution Models

Low POS Regulation High

Low Captive Investors High

planning
Planning

Weak UCITS / AIF brand Strong

Local Emerging market competition Local + EU

pre distribution factors
Pre-distribution factors

SELF MANAGED VS REGULATED MANAGER

Expertise / Background

Board of directors / Investment Committee

(record, knowledge/skills, BoD complementarity, fees)

FUND TYPE

UCITS / AIF (ICIS?)

Corporate form of Mutual Fund

Domicile

SERVICE PROVIDERS

Custody

Fund Administrator / Registrar

Auditor

Independent valuators

Other experts

distribution factors
Distribution factors

INITIAL FACTORS

Seed capital (cash, kind, commitments) / Fund key terms

MARKETING STRATEGY

Target investors / target markets

Documentation (Teasers, fact sheet, detailed presentations, etc.)

Roll out / roadshows

CRM

DISTRIBUTON CHANNELS

Institutional, HNWI, Retail, Intermediaries, Pension Funds, Other Funds, Private Equity

Institutions, Fund Trading Platforms, Insurance companies, Stock Exchanges

GEOGRAPHICAL DISTRIBUTION

Restrictions: EU, Asia, MENA, CIS, US

COST OF DISTRIBUTION

Impact on the fund (amortization, charged to the fund vs the manager)

conclusions
Conclusions

IMPLICATIONS FOR ASSET MANAGERS:

  • Establish marketable products (fund type, domicile, service providers)
  • Implement a distribution strategy (target investors, channels, marketing, cost)
  • Invest in close relationships with distributors, investors and emerging market players
  • Listen to and capture client feedback to deliver successful products and services
  • Provide more information, educational materials and training to both investors and advisers
  • Draw on relationships with distributors, advisers and investors to develop new products and move towards solution-based products. Team up with other financial solution providers.
  • Deliver the value-for-money (the maximum client benefit in the most cost-effective manner) and the safety of a highly regulated vehicle
thank you
Thank you

Contact details

igaiganis@forticap.eu

igaiganis@cifacyprus.org

tel. 99220190