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7 hot topics in European funds . . . in translation

July 28, 2011

Reading about trends in the European mutual funds can give us industry professionals here in the U.S. a bit of a through-the-looking glass feeling. Our counterparts on the other side of the Atlantic seem to be talking about the same things we are — sort of.

Here’s my informal guide to 7 hot topics in European funds today — and their U.S. equivalents:

Topic In Europe U.S. equivalent
Debt crisis in the news Greek bailout . . . and looming problems in other Eurozone countries Federal debt ceiling talks
Hedge fund regulation AIFMD (for Alternative Investment Fund Manager Directive) increases registration requirements for hedge fund managers Dodd-Frank increases registration requirements for hedge fund managers
Controversial products Synthetic ETFs and sophisticated or alternative UCITS (often called NewCITS) that use derivatives heavily Synthetic ETFs that use derivatives heavily
Changing standards of investor protection RDR (for Retail Distribution Review) in the U.K., which aims to increase the quality of advice that individual investors receive. European Commission’s PRIPs (for Packaged Retail Products) consultation looking at the marketing of funds Possible adoption of fiduciary standard for broker-dealers, with aim to increase the quality of advice that individual investors receive
New standards of investor disclosure KIID (for Key Investor Information Disclosure Document), a standardized two-page summary of fund information, which began to be used in 2011 Summary prospectus, a standardized short summary of fund information, which began to be used in 2009
UCITS IV implementation Member state adoption of latest changes in UCITS legislation is behind schedule in some countries Issuance of Dodd-Frank-related regulations is behind schedule in some cases
Latest burdensome tax regulation FATCA FATCA

Do you see any other equivalencies?

I’ll be learning more about these and other new developments in the worldwide fund industry at the ALFI Global Distribution Conference which is being held in Luxembourg on September 27-28 in association with NICSA and HKIFA, the Hong Kong Investment Funds Association.

Speakers include:

  • H.R.H. Crown Prince Guillaume, Luxembourg
  • Gérard Lopez, Managing Partner, Mangrove Capital Partners, Luxembourg
  • Paul Schott Stevens, President and CEO, Investment Company Institute
  • Shive Taney, Managing Director, Cerulli Associates, London
  • Frank Velling, Chief Strategist, Bank Invest, Copenhagen


Join me!

ALFI Distribution Global Conference 2011
In association with NICSA and HKIFA

Tuesday, September 28, and Wednesday, September 29
Centre des Conférences Kirchberg, Luxembourg

For more information, visit the ALFI website

ALFI Conference Logo

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