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Jul 30, 2020

Building resilience through disruption

Disruption across the asset and wealth management industry has forced industry players to navigate enormous upheavals over the last several years. Despite this disruption, many firms have been slow to adapt—or at least adapt quickly—until the COVID-19 pandemic forced firms to radically change how they function at the most basic levels. 

Jul 29, 2020

Registration is not enough: Are you in compliance with the new Cayman Islands Private Funds Law?

Closed-End funds may not be fully aware of the latest requirements resulting from the new Cayman Islands Private Funds Law 2020 (PF Law or PFL). To date, private funds have been exempt from registration with the Cayman Islands Monetary Authority (CIMA). The PF Law commenced on February 7, 2020, and created a regulatory regime for closed-end funds, such as private equity, venture capital, and private debt funds. Although many of the requirements under the PF Law are similar to the existing requirements for open-ended funds, there are some additional operational features contained in the PF Law which managers also need to address. 

Jul 28, 2020

FRTB survey shows firms using the Basel III delay to consider options

The SS&C Algorithmics webinar “FRTB market trends amidst the Basel III delay” held on July 8th provided an opportunity to engage in insightful discussion and gain market-led insights and perspectives with a panel of risk practitioners. The panelists are close to the implementation of the revised market risk capital requirements under the Fundamental Review of the Trading Book (FRTB). The session covered known and emerging FRTB challenges in the current COVID-19 climate, characterized by unprecedented market volatility and uncertainty, counterbalanced by a recent decision by the Basel Committee on Banking Supervision (BCBS) to defer the implementation of the new standards to 2023.

Jul 27, 2020

Channels don’t tell you enough about advisor business models

Asset managers that assume every advisor in a distribution channel (e.g., “Wirehouse” or “RIA”) is the same are missing opportunities to better connect with their customers.  Enhanced data and segmentation can help segment advisors for better coverage, more meaningful engagements and an improved customer experience. In our advisor surveys, conducted in association with Horsesmouth, we ask advisors across the wealth management landscape about their portfolios, their experience with asset managers’ product offerings and wholesaling teams, and other topics relevant to trends in distribution. In our most recent survey, we asked advisors “Please select what best describes your operational model/practice affiliation” and compared their answers to the ones they gave when asked “What type of firm do you work for” and found several variations.

Jul 24, 2020

The future of globalization and supply chains

The COVID-19 crisis has tested many paradigms, especially globalization. Trade and supply chains, and corporate and government responses and strategy have been impacted. Even before the onset of this crisis, the globalization model was under pressure. The global financial crisis of 2008/2009 and the more recent Sino-American trade wars played their part. A global shift towards the prioritization of national interests has led to more domestically-focused populist and policy responses in recent years.

Jul 23, 2020

Challenge equals opportunity: lessons for lenders from COVID-19

Six months ago, the lending industry was operating much as it had done for many years. Where other financial services organizations have seen significant advances in the availability and adoption of technology to automate and streamline operations, paper forms are still commonplace for lenders. These forms are often walked from one side of the office to the other, and handed from one staff member to another, with a notable lack of straight through processing.

Jul 22, 2020

Key challenges in transitioning from LIBOR to Risk Free Reference rate

The end of LIBOR is imminent and we are beginning to see significant volumes of new issuances of both derivatives and cash products referencing risk free reference rates (RFRs). The LIBOR transition period, which terminates at the end of December 2021, is designed for market participants to prepare themselves operationally, technologically and financially for the cessation of LIBOR. With less than one and a half years to go, there are still many questions regarding documentation, fallback language, standardization, term rates, spread application, lags/lookbacks, lockouts and more. Nevertheless, market participants must be able to accommodate both LIBOR and RFR-based transactions during the LIBOR transition period.

Jul 17, 2020

Is it Hot in the Middle East? A Temperature Check

The Middle East (defined here as the Arabian Gulf and its periphery) has long flourished as one of the wealthiest regions of the world. Sustained current account surpluses (i.e., when the value of exports is higher than the value of imports) and low domestic absorption capacity has meant that the region has one of the highest investible surpluses in the world. This surplus has propelled the region as an influential player on the global commercial stage, complementing its already-important political presence.

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