Head, Product management & marketing, Fundsquare
Ahead of FundForum International on June 12-14, Funds Europe asked Paolo Brignardello of Fundsquare about the issues likely to be discussed.
What is the biggest concern for the funds industry at present?
The cost of investment products in a period of low investment returns is the main concern. Of course this is not a new challenge, but today regulators’ requirements of cost transparency give the opportunity to rethink products and models.
Know-your-client and anti-money laundering rules date back to the early 2000s, and implementation inefficiencies continue.
Similarly, the industry is still struggling to digest the post-2008 rules. A recent report by Deloitte highlighted how mutualisation could realise €1 billion cost savings in the cross-border fund distribution supply chain.
What is the future for the blockchain-based fund distribution model?
Don’t expect instant results, but distributed ledger technology can unlock savings and efficiency gains by streamlining fund distribution procedures. Success will depend on adapting regulations and creating industry standards as much as mastering the technology.
Luxembourg is Europe’s number one cross-border fund domicile thanks to its ecosystem of well-connected, first-rate service providers, intelligent regulation, and a supportive government. Blockchain can achieve its potential in this environment.
Funds Europe, issue 157