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Driving growth and aligning interests: 
EY’s Global Regulated Funds Survey 2014 
A survey of global regulated fund manager...
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Driving growth and aligning interests: EY’s Global Regulated Funds Survey 2014

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A survey of global regulated fund managers in North America, Europe, Latin America and Asia reveals that
the tumult following the global financial crisis has subsided and the industry is now firmly focused on growth.
Representing approximately 30% of the total global assets under management in regulated funds, money managers
polled in EY’s Global Regulated Funds Survey 2014 offer their views and actions on industry growth, product
development, compensation approaches and future trends.

The full report is available at www.ey.com/regulatedfunds

Veröffentlicht in: Business
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Driving growth and aligning interests: EY’s Global Regulated Funds Survey 2014

  1. 1. Driving growth and aligning interests: EY’s Global Regulated Funds Survey 2014 A survey of global regulated fund managers in North America, Europe, Latin America and Asia reveals that the tumult following the global financial crisis has subsided and the industry is now firmly focused on growth. Representing approximately 30% of the total global assets under management in regulated funds, money managers polled in EY’s Global Regulated Funds Survey 2014 offer their views and actions on industry growth, product development, compensation approaches and future trends. Industry growth Regulated fund managers are targeting an average annual growth of 9% of net new money in the next five years, though top approaches to achieving growth vary by region. Annual growth of net new money in regulated funds over the next five years: Top approaches to achieving market growth: 10% North America 59% of North America Increasing penetration of existing markets and adding distribution channels 10% Europe Increasing penetration of existing markets and expanding into new geographic markets Products primed for growth: 80% Solutions-based products Approaches to product development 50% of Asia and Latin America Expanding their range of product offerings 90% Actively managed equity/fixed income products Demand from both institutional and retail clients is driving product development – not changes in the regulatory environment. More than three-quarters of regulated fund managers have a department dedicated or assigned to new product development. Globally, fund managers said their foremost focus when developing new products was investor demand. As expected, given the waves of recent European regulation, regulatory impact was the top consideration for 27% of Europe-based managers compared to 5% or less for North American and Asian promoters. Current investor demand 85% 83% 78% Ability to grow AUM Profitability 70% Fund manager compensation More than half of fund managers worldwide involve third parties in the product development process, with North American managers much more likely to do so. Globally, managers are most likely to engage third parties for advisory services on: Strategy 65% Review of possible tax implications Managers are generally in the driver’s seat when determining their compensation. In Europe, regulation is driving change, and a much higher proportion of Europe-based managers point to regulation as having an impact on their compensation structure. Which factors play a primary role in fund manager compensation structures? 65% 33% 50% 30% 11% 38% Internal decision Market/competitor changes Regulatory and tax changes North America Europe Asia and Latin America Most managers employ multiple compensation models in their organizations. 5% 56% 13% 63% Combination of discretionary and formula-based 24% Discretionary only 13% Formula-based only Regulated funds industry: the next five years 61% Legal There is little doubt among fund managers that regulation will play the primary role in driving change for the industry over the next five years, though there is no consensus around the possible impacts of regulatory changes. 12% Accounting and taxation 6% Fees/profits Biggest drivers of change: Possible impacts of regulatory changes: 79% Regulatory environment 24% Changing investor demographics 14% Shifts to alternate strategies/ demand for new products 18% Cross-border issues 15% Transparency 12% Product-related limitations 12% Distribution Global managers who are only “chasing the regulatory burden” will be restrained by their focus on what can and can’t be done. Managers need to look beyond regulatory concerns to the factors driving growth and change in the industry. Transparency, understanding client needs and goals, and developing new solutions that are aligned with client interests will promote mutual success in the future. The full report is available at ey.com/regulatedfunds. © 2014 EYGM Limited. All Rights Reserved. EYG no: EH0180. ED None. For the 33% of managers, based in Europe, who awarded bonuses entirely on a discretionary basis, changes will need to be implemented as a result of UCITS V. 64% of Europe 7% of Asia and Latin America

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