Understanding Fund Selectors Outlining results of syndicated research into the attitudes of fund selectors across European markets Jonathan Boyd Editorial Director Open Door Media Publishing 6 October 2016
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“European Fund Selector Syndicated Study: Market thinking and the effect on your brand” • 351 Fund Selectors • Benelux, France, Germany, Italy, Nordics, Spain, Switzerland • 1/3 AUM >€5bn each
Benelux • Top considerations Investment risk management, quality of communications materials, charges • Key local differences Significant difference in use of ‘up to 2 years’ time horizon vs European average when considering performance of active managers • Main review trigger Change of investment strategy • Use of social media for manager research About 20% found useful
• Top considerations France Performance track record, clear and distinct investment philosophy, investment risk management • Key local differences Significant difference in use of ‘up to 2 years’ time horizon vs European average when considering performance of active managers • Main review trigger Key person departure • Use of social media for manager research About 19% found useful
• Top considerations Germany Clear and distinct investment philosophy, relationship management, investment risk management • Key local differences Significant difference in use of ‘2 - 3 years’ time horizon vs European average when considering performance of active managers • Main review trigger Underperforming the peer group over a defined period, reputational issues, poor service • Use of social media for manager research About 16% found useful
• Top considerations Italy Investment risk management, quality of communications materials, charges • Key local differences Significant difference in use of ‘up to 2 years’ time horizon vs European average when considering performance of active managers • Main review trigger Change of investment strategy • Use of social media for manager research About 27% found useful
• Top considerations Nordics Investment risk management, clear and distinct investment philosophy, charges • Key local differences Significant difference in use of ‘2 -3 years’ time horizon vs European average when considering performance of active managers • Main review trigger Underperforming the peer group over a defined period, poor service • Use of social media for manager research About 15% found useful
• Top considerations Spain Investment risk management, performance track record, clear and distinct investment philosophy • Key local differences Significant difference in use of ‘2 -5 years’ time horizon vs European average when considering performance of active managers • Main review trigger Underperforming the peer group over a defined period, change of investment strategy • Use of social media for manager research About 20% found useful
• Top considerations Switzerland Performance track record, clear and distinct investment philosophy, investment risk management • Key local differences Significant difference in use of ‘up to 2 years’ time horizon vs European average when considering performance of active managers • Main review trigger Change of investment strategy, reputational issues • Use of social media for manager research About 20% found useful
• Top considerations of fund selectors: Conclusions… Clear and distinct investment philosophy, investment risk management, performance track record • Bottom considerations include: Social responsibility, global presence, product range • Regular communication is important: Fund factsheets, monthly commentaries, email newsletters considered most useful
• Review triggers: Conclusions ctd … Most concerned by change in investment strategy • # AMs on panels: ¾ expect to maintain/increase # AMs on their panels at time of survey • Market leaders in Alternatives: Little clarity in market leaders on pan-European basis for non-traditional asset classes and vehicle types
Multiple Referenda? Post research… Not just in Switzerland! • UK Chancellor of the Exchequer from 2007 to 2010 • Led campaign to keep Scotland in UK • Campaigned against Vote Leave ahead of Brexit referendum Rt Hon Lord (Alistair) Darling PC
For further information on the findings of the research into Europe’s Fund Selector community: Kim Bell, Director kimbell@bdifferent.co.uk +44(0)1293 601901 Louise Hanna, Sales Director & Founding Director louise.hanna@odmpublishing.com +44(0)20 37279929
www.investmenteurope.net www.investmenteurope.net/events www.investmenteurope.net/community
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