© 2016 Steendier

Rikard Lundgren
Frédérique Lundgren

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CASE STUDIES

Our case studies illustrate of how FundGlobam is helping asset managers and asset servicers to master global fund distribution:
Case study
Type of client
Business need
Case study 1: Regulatory knowledge and monitoring
 
Client: Tier 2 European asset manager
Business need

A top Tier 2 European asset manager was already distributing on a cross-border basis European and two Asian markets. However, it was concerned about the risk of failing to comply with local regulatory requirements in these jurisdictions. As it did not have the detailed knowledge in house, the asset manager turned to FundGlobam for the knowledge it needed.

Results

By making available the knowledge needed by each department of the asset manager with responsibility for fund distribution, such as management, legal, compliance and web, manager now has the capacity to master fund distribution compliance in its key markets.

The asset manager makes regular use of FundGlobam’s helpdesk for any complementary questions it has.

FundGlobam’s role

The FundGlobam fact files for each jurisdiction provide the asset manager the knowledge it needs to comply with local regulatory requirements and manage its distribution risks in each jurisdiction. The fact files were complemented by training of all the key professionals representing all the functions with responsibility for fund distribution enabling them to efficiently use each. The asset manager receives also alerts on regulatory changes and updates to FundGlobam fact files on an ongoing basis. In addition, the asset manager has access to the FundGlobam’s helpdesk.

 
Case study 2: New market opportunity
Client: Tier 1 French asset manager
Business need

Canadian investors in certain provinces of Canada expressed interest in the European fund range of a Tier 1 French asset manager.

The asset manager needed a quick response to two questions: Is it permitted to distribute its funds to the investors in Canada? If so, what are the requirements?

Results

FundGlobam’s analysis has provided the asset manager with the insight it to confirm that its European fund range is eligible for distribution in Canada, but only to certain categories of investors.

Furthermore, the asset manager already has local presence in its network meeting a number of the local substance it requires. The asset manager is proceeding with the notification of its funds for distribution to certain types of investors in two provinces.

FundGlobam’s role

FundGlobam’s team provided a detailed report on how its European fund range in the relevant provinces of Canada and the requirements.

The report included roadmaps giving the asset manager the big picture of the applicable regimes in Canada and a detailed analysis of the specific legislation and regulation of each province as well as the national frameworks implemented across multiple provinces of Canada.

Case study 3: Market strategy
Client: Swiss boutique asset manager
Business need

A Swiss boutique asset manager aimed to place its highly specialised Cayman domiciled product managed by a European Alternative Investment Fund Manager (AIFM) with its European professional clientele. However, the asset manager lacked the knowledge to assess the eligibility of its product in the relevant European markets and to prepare the private placement.

Results

FundGlobam found that the product was eligible for private placement in certain European but not in others, enabling the asset manager to refocus its efforts on the markets the product was eligible for. With the support of FundGlobam, the asset manager has registered its product with the supervisory authorities of the relevant European jurisdictions for private placement with professional investors, in compliance with local local regulatory requirements in each jurisdiction from day one, and is already placing its product with professional investors.

FundGlobam’s role

The asset manager turned to FundGlobam for advice on the private placement of its product in the European Union.

FundGlobam firstly analysed the eligibility of its product for private placement in ëach jurisdiction. Secondly FundGlobam provided insight into the relevant private placement regimes and registration requirements in each target jurisdiction. Thirdly, FundGlobam reviewed the key fund documentation, such as the prospectus and marketing material, for compliance with the applicable regulatory requirements of each target jurisdiction.

Case study 4: Distribution product development
Client: Leading global asset servicer
Business need

A leading global asset servicer decided to substantially reinforce its offering to asset managers with a comprehensive distribution support solution covering over 40 markets in Europe, Asia, the Middle East and South America. However, it lacked the knowledge and capacity internally in order to be able to deliver on this objective.

Results

The fact files enable the asset servicer to offer its asset manager clients the market insight they need to enter a market and knowledge they need in order to be able to master cross-border fund distribution in the target market.

In addition, the fact files enable the asset servicer to enhance its local distribution support capacity by providing a comprehensive overview of the distribution support needs of its asset management clients in each local jurisdiction.

FundGlobam’s role

The asset servicer chose to offer its clients its own fact files based on the FundGlobam fact files.

The fact files provide a comprehensive understanding and detailed knowledge of:

  • The market access options in each jurisdiction

  • The applicable local regulatory requirements in each jurisdiction

The asset servicer also offers its clients access to FundGlobam’s helpdesk service.

Case Study 5: Local distribution support services
Client: Leading European service provider
Business need

A leading European service provider asked FundGlobam to support its initiative to enhance its local distribution support services. This included a request for detailed knowledge and insight on local requirements in the majority of European markets and selected Asian markets.

Results

Today, few service providers are able to provide local distribution support services to asset managers on a global basis. But asset managers are increasingly demanding a one-stop shop covering their global distribution needs.

 

By enhancing its distribution support service network, the service provider is strengthening its competitive position in the market as a service provider.

FundGlobam’s role

FundGlobam helped the service provider to assess the need for distribution support services in each jurisdiction by providing the knowledge and insight on the applicable local requirements.

 
 
 
Case Study 6: Marketing material for multiple jurisdictions
 
Client: Tier 3 Luxembourg asset manager
Business need

A Tier 3 Luxembourg asset manager was already distributing its fund range on a cross-border basis in some European and third country markets. However, it was concerned about the risk of failing to comply with regulatory requirements on marketing materials in the jurisdictions where its funds are distributed. As it did not have the detailed knowledge of the local specificities in house, the asset manager turned to FundGlobam for the support it needed.

FundGlobam’s role

FundGlobam’s team performed an analysis of marketing materials and provided a specific assistance on compliance and market practices with the marketing material rules in each jurisdiction where the funds are distributed.

Results

Marketing material is a key element in the distribution of investment funds. Although there are similarities between the marketing material rules of some jurisdictions, each jurisdiction has its own specific regime on marketing materials, some of which depend on the distribution regime chosen. Few asset managers have detailed knowledge of local marketing material rules. FundGlobam is able to provide the asset manager with a clear understanding of the applicable marketing material rules in each target jurisdiction and detailed guidance on how to adjust its marketing materials in order to comply with local requirements and effectively manage the risk of marketing of it fund range in each target market.