How Secular Forces Are Changing Fund Management Worldwide

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by firstlove 2008. 6. 26. 13:18

XXI Annual Conference of the IIFA
Sydney, 31 October 2007

Going forward, asset managers will be more apt to offer components of solutions.
Complex advice and complicated packaging will require parts from multiple providers
Firms will have wholesale client relationships with distributors who craft retail portfolios
Fund managers will look dramatically different in five years.
Some banks will build asset management as a core competency, others will shed it
As professional buyers become more prevalent, so will boutiques
Mutual funds must offer more outcome-oriented returns—or face competition.
Structured notes and certificates already outsell funds in some jurisdictions
ETFs shine a strong spotlight on the true value of actively managed collective schemes
Durable diversified firms will offer an array of both long-only and long-short product .
Sustainable business models will offer truly converged product lines
Many deals so far concentrate purely on liquidity, rather than longevity
Firms will derive a growing component of revenues from outside their home markets.
Large US firms should realize 40%-50% of their business from overseas by 2010
Strategic demand for quality products and packagers is secular.
Pricing for such firms will be more resistant to market downturns

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