With the curtailment of trading in Belarusian, Russian and Ukrainian securities, fund liquidity is high on asset managers’ agendas. BBH’s Adrian Whelan addresses some of the key questions around use of side-pockets for UCITS funds.
Asset managers are facing increasingly rigorous regulatory scrutiny and fast paced technological change as they continue to grapple with market shifts. So when IMpower’s FundForum event called on senior industry leaders to share their collective experience and wisdom, they readily gathered to discuss the next phase of evolution. BBH's Janet Du Chenne reports on the main themes.
Partnerships between fund managers and third parties in the distribution ecosystem are on the rise. In this four-part audio series, Killian Lonergan shares his insights on the key trends and how to manage the complexities involved.
Regulations are an inevitable part of any cross-border fund distribution strategy, but the way in which firms adapt to them often dictates whether they help or hinder their European fund distribution models. BBH’s Killian Lonergan looks at three regulatory themes and the approaches that could spell success.
In this edition of In Focus, we provide a comprehensive list and breakdown of 2022 local law changes impacting tax rates, documentation, and market procedures, as well as the newly ratified DTATs and protocols that result in a tax rate impact to our clients.
There is no time like the present to take stock in what has been a dramatic start to the year for capital markets. This article looks at what volatile market conditions, a hawkish shift in central bank policies and a refocus on fundamentals will likely mean for securities lending in the year ahead.
Now in its second edition, this guide by BBH and K&L Gates assesses regulatory, business, and operational considerations for converting a mutual fund to an ETF and presents a case study of a recent switch.
A plan to reform the international tax system and charge multinational enterprises a minimum tax rate has taken a significant step forward with its endorsement by OECD and G20 countries. BBH’s Global Tax Services highlights what clients need to know.
In this edition of InFocus, we answer some frequently asked questions related to new rules that certain Cayman entities must comply with in order to meet obligations under the Common Reporting Standard (CRS).
Regulators are reviewing how gamification and other tech led sales techniques sit within their Regulation Best Interest framework after the recent Robinhood/GameStop events. Here, we discuss their considerations.
More and more asset managers are reviewing operational functions like Currency Hedging and reassessing how they are managing their programs following some of the highest market volatility in years. Here, we explain some critical aspects for consideration.
The global COVID-19 pandemic has brought the topic of operational resilience to the top of the agenda for regulators worldwide. Here, we sum up some of the common areas of focus among the open operational resilience regulatory assessments and how they are influencing policymakers' actions going forward.
A growing number of ETF issuers are turning to securities lending programs as a way to increase revenue, mitigate costs, and counteract downward pressure on fees. In this Exchange Thoughts article, we explore the pivotal role ETFs are playing in the securities lending market.
Environmental, Social, and Governance (ESG) is one of the hottest topics in asset management, and just the start of many acronyms thrown around regularly. Here we discuss the latest ESG acronym: Corporate Sustainability Reporting Directive, or CSRD.
The ability to easily “passport” funds across E.U. borders is a great attraction for asset managers. Here, we discuss the regulations of European Passporting and some of the obstacles that are no longer in the way.
We surveyed private and universal banks on their thoughts about how their approach to business has changed due to working remotely and the future going forward. The survey key findings highlight the challenges, the response, and how we all see new ways of working post-pandemic.
In the final part of our three part series on fund liquidity, we focus on the recently published report from European Securities and Markets Authority (ESMA) on its study of UCITS liquidity risk management.
Despite certain points of tension across the asset management industry in the lead up to Brexit, overall things have been pretty calm in the wake of the “divorce”. Here, we discuss the latest Memorandum of Understanding and what it could mean for the industry.
The first phase of the E.U.’s Sustainable Finance Disclosure Regulation (SFDR) focused on adherence to the E.U.’s ESG agenda, representing the industry’s arrival at basecamp. We outline the three remaining challenges as the focus now turns to the detailed SFDR RTS and Taxonomy alignment.
Established in 1985, the UCITS fund structure is two years older than Rick Astley’s hit “Never Gonna Give You Up.” Ever since, investors in Europe and beyond have never given up on UCITS. We explain with a selection of the "greatest hits" from UCITS funds.
The Sustainable Finance Disclosures Regulation (SFDR) is the important first, big step in a longer E.U. ESG journey to enshrine sustainability across the entire E.U. asset management sector. Lingering questions remain about many of the disclosure requirements and fund classification process as the March 10th deadline nears.
In this edition of In Focus, we provide a comprehensive list and breakdown of local law changes impacting tax rates, documentation, and market procedures, as well as newly ratified Double Taxation Avoidance Treaties (DTAT) and protocols that result in a tax rate impact to our clients.
The recent 2020 U.S. election results bring new reasons to contemplate significant legislation and policy changes that will shape industry growth trends for the next decade. Could private markets be a source for post-COVID recovery?
In the latest FX Quarterly, our strategists highlight the key risks driving global economies, including the ongoing COVID-19 crisis and the transition to a new administration in the U.S. We also provide our outlook on developed and emerging markets in Q1 2021.
Unprecedented, resilient, and exhausting have all been words that have characterised this challenging year. While the long lasting effects of the pandemic on the global economy has yet to be determined, there is a feeling that we are moving into the next phase of the crisis with investors increasingly refocusing on the fundamentals of their investment decisions. We look at the key drivers in our 2021 Securities Lending Outlook.
NAV oversight, validation, and contingency plans for unexpected disruptive events had been a high priority of regulators long before the onset of the global pandemic. Now, the increasing new expectations from regulators is adding a layer of personal liability to those who help oversee NAV Production.
As we approach the conclusion of the Brexit transition period, several key regulatory areas remain uncertain. The Financial Conduct Authority (FCA) recently moved to make decisions which aim to fill in some of the remaining gaps on the Brexit regulatory puzzle.
Thanks to evolving regulatory policy in Europe and Hong Kong, more asset managers are considering adding unlisted share classes to their ETFs. We lay out the top considerations for launching unlisted share classes on existing ETFs.
In the latest FX Quarterly, our strategists take a deep dive on the key risks driving global economies, including the ongoing COVID-19 crisis and the upcoming US election. We also provide our outlook on developed and emerging markets in Q4 2020.
The hallmark of a well-functioning anti-money laundering program (AML) is a clear delineation of roles and responsibilities. We explore how fund boards and asset managers can mitigate risk in an increasingly complex operating environment.
In the latest FX Quarterly, our strategists take a deep dive on the key risks driving global economies, including the ongoing COVID-19 crisis and the upcoming US election. We also provide our outlook on developed and emerging markets in Q3 2020.
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