Around 500 fund managers got together last Wednesday 1 February to take stock of the changing global economic and political landscape and what it means for fund distribution.
Hosted by Deloitte Luxembourg and Elvinger Hoss Prussen, the fifth annual Cross-Border Distribution Conference, held at the European Convention Centre, provided a platform for a variety of perspectives on how to meet investor expectations in a low-growth yet highly regulated world.
“RegTech and the ongoing digitalization of distribution activities—combined with an unexpected political context—are reshaping the fund industry. In a world of low income and highly regulated activities, innovative thinking will create a competitive advantage in fund distribution as in other industries. Our goal with this conference is to provoke debate and new thinking,” explained Lou Kiesch, Partner at Deloitte Luxembourg.
The final panel discussed the possible implications of Brexit on distribution and fund passporting.
“Brexit has created an environment in the EU which we would certainly have preferred not to have arisen, but Luxembourg provides solutions that are looked upon favourably by UK asset managers,” commented Jacques Elvinger, Partner at Elvinger Hoss Prussen and co-host of the conference.
The overall message from the panels was that to thrive in this evolving environment, the cross-border fund industry will need to demonstrate innovation, agility, and transparency. In his closing remarks, the Luxembourg Minister of Finance Pierre Gramegna called for open borders and business collaboration.
Image: Lou Kiesch, of Deloitte Luxembourg and Jacques Elvinger, of Elvinger Hoss Prussen. Photo by Blitz
