Regulatory tightening challenge to Swiss fund distribution
According to the latest accelerando associates survey, fund distribution in Switzerland continues to face challenges.
Switzerland has seen overall strong European fund flows in 2013, nevertheless, 62% of respondents consider the past 18 months as challenging.
“Regulatory tightening, a systematic move from open towards guided architecture combined with the current consolidation wave in Swiss wealth management create more challenges for foreign asset managers marketing in Switzerland“, explains Philip Kalus, (pictured) founder and managing partner of accelerando associates.
Respondents tend to be slightly more optimistic about the coming 18 months, with 52% anticipating challenges while 45% expect a challenging but good 18 months to come. Wholesale (ex fund of funds) as well as wholesale fund of funds are seen as key growth areas. In terms of asset allocation, investors continue to focus on equities and multi asset solutions.
A key difference with an earlier survey on Swiss fund distribution conducted by accelerando associates in January is that only 20% of respondents consider CHF (hedged) share classes as a must, while 48% do not consider it as a must, but certainly as helpful to gather Swiss assets.
The accelerando survey was conducted among 30 senior sales people holding head of Swiss European or Global sales roles, the complete results will be published in September.