White papers

  • The Every Fund Survey 2016
    May 2016

    2016 looks set to present the asset management industry with one of its biggest challenges - a 'triple whammy' of market turmoil and increased volatility, a tsunami of regulation and a threat from disruptors that is greater than ever before. To cope with the looming 'triple whammy', the industry needs to adapt - this survey examines some of the key factors and potential blocks in this evolutionary journey.

  • The impact of AIFMD and convergence survey: Part 4
    Jun 2015

    Nearly one year on from the implementation of AIFMD in July 2014, this report examines whether the positive outlook and predictions uncovered in last year's report have been fulfilled. The findings re-examine the challenges faced by organizations since implementation. Unsurprisingly the process of reporting to regulators features high on this list, and has been a pain point for many in the last year. Respondents from the industry believe AIFMD has been implemented successfully but have expressed doubts as to the purpose of the regulatory data collected from AIFMD and question whether it is helping regulators to better spot threats and systemic risks that may impact market stability.

  • The impact of AIFMD and convergence survey: Part 3
    Jul 2014

    The findings from the first two surveys, conducted in 2012 and 2013, were dominated by the concerns and uncertainty around the Directive. While there was optimism over the long-term success of AIFMD as a global brand and over the opportunities for the established European domiciles, that was firmly countered by concerns over implementation, rising costs, a threat that it would drive business away from Europe, and the significant challenges presented by depositary liability, operational requirements and risk management. Now with the implementation date of July 22 2014 within close reach, the initial fears have subsided, the challenges have been significantly reduced and the industry is realizing the opportunities.

  • The impact of AIFMD and convergence survey
    Jun 2013

    As the Alternative Investment Fund Managers Directive (AIFMD) progresses, there remains widespread industry speculation about the opportunities and challenges this significant piece of new regulation will bring. But with the regulatory deadline closing fast and the final details for implementation still being decided, it will soon become clear whether AIFMD will succeed in making Europe a more attractive jurisdiction for alternative fund investors, or whether it will simply add further cost and complexity to an industry that is already facing a tsunami of regulation.

  • Preparing for AIFMD, BNP Paribas gets ready
    Jan 2013

    There is much evidence in the industry of the growing convergence between alternative and traditional funds. A survey of industry professionals responsible for more than USD 16 trillion of assets under administration, conducted by Multifonds, found that more than two thirds believe AIFMD will accelerate the convergence of long only and hedge funds. AIFMD will have wide ranging impacts on fund distribution, investment strategy, compliance and operations. Multifonds, has been working closely with its asset manager and administrator clients, including BNP Paribas, to assess the impact of AIFMD.

  • Convergence and the impact of AIFMD survey
    Sep 2012

    Multifonds' industry-wide survey on the impact of the Alternative Investment Fund Managers Directive (AIFMD) on the fund industry reveals that more than two thirds (69%) of industry respondents, with combined assets under administration exceeding US$16 trillion, believes AIFMD will accelerate the convergence of long-only and hedge funds. The survey, conducted in June 2012, received more than 50 responses from senior participants across the global fund administration industry.

  • Convergence, and the road ahead for fund administrators
    Mar 2012

    For well over a decade now, convergence between traditional mutual funds and hedge funds has been a frequent topic of discussion for the investment funds industry. However, convergence has yet to have a systematic and broad impact across the industry. This is now changing, and over the course of the next few years convergence will be front and center for fund managers and their service providers, perpetuated by a perfect storm of an increasingly institutional investor base, evolving regulation, and the increasing competition for capital. For fund administrators in particular, convergence will drive significantly higher revenue potential, along with the equally significant challenge of aligning both their technology and operating models to take full advantage.