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 financial crisis.
He explains: “Since then we have seen a significant increase of regulation, under political pressure, which has created uncertainty and increased costs.
“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...