Performance and regulation are the twin challenges facing the
asset management industry, according to Fabrice Cuchet from
Dexia Asset Management.
Cuchet (pictured), chief investment officer of alternative
investment at the Paris-based asset management firm, explains
that in 2009 he argued that more regulation was inevitable and
necessary to restore confidence in response to the global
"Since then we have seen a significant increase of regulation,
under political pressure, which has created uncertainty and
"Good regulation should maintain sufficient flexibility to
encourage the development of a strong, competitive industry and
must be visible as well as stable."
In the first 25 years of the UCITS directive the
industry reached up to UCITS III. Since 2012 we have had UCITS
IV, V and in a couple of years we are also expecting UCITS VI.
But the uncertainty about...