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Performance: Issue 7

January/February 2012


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Performance: Issue 7, January/February 2012Worldwide consumer confidence is currently not at its highest following a difficult year in investment management. Macro perspectives indicate that 2012 could well continue in the same vein as a recession scenario will be difficult to avoid for the Eurozone. This factor will have a non-stimulating effect for the region, with a potential to follow through to the Australian economy.
According to Deloitte’s Asia Pacific Economic Outlook Report, this region barely has economies recovered from the 2008 crisis that it was faced with the Euro and U.S. debt crises. APAC economies have in no way been insulated from these crises, while other political-social factors have affected performances and will shape future growth. China’s economy, for example, has grown less in 2011 than in 2010 while India has been subject to 9% inflation at its peaks. For the U.S., the persistent high unemployment rate has slowed down the GDP recovery since the 2008 financial crisis recovery.

In 2012, regulation will continue to be a key driver in asset management, with asset servicing providers again having major readiness projects on their bill while margins are still under pressure. Active product profitability management should remain on the agenda of all global asset managers. However, from a statistical perspective, global markets cyclically going down for a straight period are generally followed by a period of potential appreciation. There remains confidence in the prosperity of investment management.

In this issue

Market buzz

  • Fund analytics, regulatory requirement or business opportunity?
  • Investing in Château Lafite, Picasso or Patek Philippe - The rise of collectible assets
  • GIPS - A 'necessary' evil
  • Corporate governance in investment funds - Duties and responsibilities of directors revisited
  • Brazilian investment funds
  • Wealth management trends
  • Swing pricing and the challenge of fair cost allocation in distressed financial markets.

Tax perspective

  • New tax reporting requirements for foreign investment funds distributed in Italy
  • New tax rules put pressure on offshore jurisdictions
  • Financial transactions tax.

Regulatory angle

  • Managing risks under UCITS IV - New release or fountain of youth?
  • IASB and FASB Issue Exposure Drafts (ED) on investment entities
  • Reform of 'MiFID' - Spotlight on the 'inducements' section.

For further information and, or assistance please contact either Neil Brown on + 61 3 9671 7154 or Avi Zaacks on + 61 3 9671 7393.

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