The U.K. Financial Conduct Authority (FCA) has opened a public consultation which seeks to reshape the rules around marketing of Long-Term Asset Funds (LTAFs) to allow access to a wider group of retail investors and pension schemes.
Banks, asset managers and insurers operating in the EU will be subject to new rules intended to boost the security and resiliency of the financial sector. Adrian Whelan maps out what asset managers need to know.
As the investment landscape in Japan continues to evolve, BBH Relationship Manager Tomoko Kenny asks SMTAM's David Semaya how his firm is addressing three global themes and how Western asset managers can enter this market with the help of industry partners.
In September 2022, the final phase of the regulation on posting and collecting collateral as initial margin for OTC derivatives takes effect and will mainly impact the pension fund and traditional asset manager community. Derek Coyle discusses the scope of the sixth and final phase of the Uncleared Margin Rules (UMR).
Managers and distributors are increasingly obligated to engage investors on their ESG appetite. Adrian Whelan sets out the MiFID II Sustainability Preferences and other factors that firms should consider.
Ranked among the highest state tax rates in the nation, it is not surprising that many residents of New York and California demand in-state bonds. The key question is whether the benefit of saving some state tax outweighs the better risk-adjusted return potential of a broader national opportunity set?
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.
Post-pandemic concerns and the Russia-Ukraine conflict have not deterred investors from flooding into exchange-traded funds. At FundForum, BBH’s Antonette Kleiser shared highlights of our recent Global ETF Investor Survey.
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.
With new technologies accelerating financial services’ digital transformation, BBH’s Cameron Jack and Janet Du Chenne attended FinovateEurope and report on the fundamental changes since the pandemic and evaluate the roles of incumbents and fintechs in setting the future direction of travel.
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.
How is an automation crusade in depositary services arming leaders with the tools to reduce complexity and manually intensive processes in alternatives investing? We explore new technologies that are underpinning this efficiency revolution and their potential to transform the industry.
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.
As the U.K. embarks on its post-Brexit regulatory journey, ESG is an area of policymaking where the rules are being framed to be similar but not the same as those of the E.U. These areas of divergence will occupy many asset managers’ minds as they look to compare and contrast rulesets, writes Adrian Whelan.
The U.S. Department of Labor has taken a significant step towards the integration of environmental, social and governance (ESG) considerations in pensions management. BBH’s Adrian Whelan sets out how the proposed rule reverses previous barriers to investment.
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.
Asset Managers face different challenges and have varying experiences and views when evaluating their current FX process/program. Below are some common misperceptions we’ve heard from our clients and prospects as they are about to embark on this review.
A recap of the recent InvestOps Virtual Boardroom 2021 conference, which brought together executives from firms with a wide variety of investment strategies, operating models and assets under management.
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.
We explain some of the top issues likely to ensure Mr. Gensler doesn’t get a whole lot of a “honeymoon period” when he takes his seat at the head of the SEC table. One thing is for certain, he starts his tenure with a full plate.
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.
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 recent spate of consolidation in fund platforms in Europe is raising an important question for many asset managers: are they working with the right platform or have they spread themselves too thin?
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?
Many industry commentators have marked ELTIF off as an EU policy failure. Recently, there has been several new ELTIF launches by major market players triggering lively industry debate about the future of ELTIFs, which may be more promising than before.
The events of 2020 have brought the major themes affecting asset managers into sharper focus -- supporting the investment process in turbulent markets, scaling and growing the business while keeping costs down, managing a globally diversified operating model with remote staff, and engaging more effectively with the digital revolution. These themes are leading mangers to consider what really differentiates their business and how to build the optimal operating model.
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.
Following the US Securities and Exchange Commission’s (SEC) approval of Precidian’s ActiveShares model in May, four proxy-based, semi-transparent ETF structures were given notice of approval by the SEC. The new ETF structures could herald a new era of active ETFs.
By selecting this link, you are leaving Brown Brothers Harriman & Co. internet website. This link is provided for informational purposes only. Brown Brothers Harriman & Co. is not responsible for the content within this linked site and no endorsement of their content is implied
If you are leaving to view a video on a third-party website, the views expressed in the video are as of the date in the broadcast. The positions expressed in this material are those of the author and may or may not be consistent with the views of Brown Brothers Harriman & Co. and its subsidiaries and affiliates ("BBH") and are intended for informational purposes only. Information contained herin is based upon various sources believed to be reliable and are subject to change without notice. Furthermore, these positions are not intended to predict or guarantee the future performance of any currencies or markets. This material should not be construed as research, or as investment, legal or tax advice, nor should it be considered information sufficient upon which to base an investment decision. BBH is not affiliated with the third-party site.
Important Information for Non-U.S. Residents
You are required to read the following important information, which, in conjunction with the Terms and Conditions, governs your use of this website. Your use of this website and its contents constitute your acceptance of this information and those Terms and Conditions. If you do not agree with this information and the Terms and Conditions, you should immediately cease use of this website. The contents of this website have not been prepared for the benefit of investors outside of the United States. This website is not intended as a solicitation of the purchase or sale of any security or other financial instrument or any investment management services for any investor who resides in a jurisdiction other than the United States1. As a general matter, Brown Brothers Harriman & Co. and its subsidiaries (“BBH”) is not licensed or registered to solicit prospective investors and offer investment advisory services in jurisdictions outside of the United States. The information on this website is not intended to be distributed to, directed at or used by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Persons in respect of whom such prohibitions apply must not access the website. Under certain circumstances, BBH may provide services to investors located outside of the United States in accordance with applicable law. The conditions under which such services may be provided will be analyzed on a case-by-case basis by BBH. BBH will only accept investors from such jurisdictions or countries where it has made a determination that such an arrangement or relationship is permissible under the laws of that jurisdiction or country. The existence of this website is not intended to be a substitute for the type of analysis described above and is not intended as a solicitation of or recommendation to any prospective investor, including those located outside of the United States. Certain BBH products or services may not be available in certain jurisdictions. By choosing to access this website from any location other than the United States, you accept full responsibility for compliance with all local laws. The website contains content that has been obtained from sources that BBH believes to be reliable as of the date presented; however, BBH cannot guarantee the accuracy of such content, assure its completeness, or warrant that such information will not be changed. The content contained herein is current as of the date of issuance and is subject to change without notice. The website’s content does not constitute investment advice and should not be used as the basis for any investment decision. There is no guarantee that any investment objectives, expectations, targets described in this website or the performance or profitability of any investment will be achieved. You understand that investing in securities and other financial instruments involves risks that may affect the value of the securities and may result in losses, including the potential loss of the principal invested, and you assume and are able to bear all such risks. In no event shall BBH or any other affiliated party be liable for any direct, incidental, special, consequential, indirect, lost profits, loss of business or data, or punitive damages arising out of your use of this website. By clicking accept, you confirm that you accept to the above Important Information along with Terms and Conditions.
1BBH sponsors UCITS Funds registered in Luxembourg, in certain jurisdictions. For information on those funds, please see bbhluxembourgfunds.com