Question 1: ESG
Now that ESG is moving into a more mature phase of development, what granular challenges are the most significant, for example, finding real value in ESG opportunities, overcoming ‘greenwashing’ dangers, and delivering perceived value across platforms to meet investor expectations?
Question 2: Market Conditions & Asset Management.
With world money supply growing by almost a quarter this year (2020) alone at a time when global output has fallen, what principal challenges will asset managers face in managing the return to the ‘old normal’ in 2021-3?
Question 3: Products
Reviewing the main product classifications, where do you see the most attractive areas post Covid in 2021 – reviewing classifications such as ETFs, MMFs, Closed End funds (e.g. Investment Trusts); Cryptocurrency v real assets, e.g. gold? What investment ‘styles’ will win in the coming years – e.g. value based, ESG, ETFs? Investment platforms in less liquid assets, e.g. Real Estate, Private Equity.
Question 4: Fintech.
Where do you see fintech impacting most importantly in the following areas:
Custody, and Custodial services provided by Custodians,
Fund promotion – The impact of tech in investment choice: Will ‘tech’ be as ‘hot’, or ’hotter’ than ever as an investment in 2021? - The impact of tech in the search for superior investment performance.
Question 5: Regulation
Ireland. How do you see the Irish regulatory/legal landscape resuming in 2021, as deferrals and delays because of Covid-19 are addressed.
The ILP regime; SEAR legislation
The Basel Committee on Banking Supervision and IOSCO have recommended that regulators delay the 5th and 6th phases of the Global IM Rules (Initial Margin) for un-cleared derivatives transactions to Sept. 2021 and 2022, respectively. It has been described “as the biggest regulatory event since the Markets in Financial Instruments Directive 2 in 2018”. How do you assess it, and will it have the perceived benefits in enhancing liquidity that regulators are hoping for?
Question 6: Brexit, Ireland, EU, Luxembourg , and UK after Jan 1st 2021
The Irish Regulator. How confident are you that the Irish Regulator and their colleagues at the ECB can fill the void left by the departing UK? In the area of assuring investors and pension funds that the quality of regulation will be maintained after Brexit?
Mairead McGuinness, new EU Commissioner for Financial Services Portfolio has a new blank canvas for EU FS in the wake of the UK’s exit. In the funds and Capital markets areas what principal opportunities do you see her agenda as addressing the potential mismatches between EU, UK and Ireland in 2021-22?
Question 7: Review & Outlook
a. What in your view were the most significant developments in the asset management/investment funds landscape in 2020?
(Covid-19 probably would feature as a constant theme in this answer). (The economic and geopolitical ramifications would also feature, most likely)
b. What in your view could be the most decisive developments in the asset management/investment funds landscape by the end of 2021?
(In your answer, please just focus on the coming 12 months, rather than on ongoing processes, which will last long after 2021. In this, perhaps, you might also consider the following 3 points – a surprise development, a welcome development, and an unwelcome development.)
8- 9. ‘Wildcard’ Questions.