Report Urges Asset Managers To Embrace New Sense Of Morality To Regain Investor Confidence
Tuesday, 07 August 2012
PRESS RELEASE
London – Tuesday, 7 August 2012
A new report published online today urges asset managers to regain investor confidence by facing up to the moral challenges posed by recent global events. Based on a ‘swift survey’ of asset managers, “Success of the Fittest: A Swift Survey of Shifts in Asset Management”, assesses the fitness of the asset management sector in the present financial climate. It looks at five key areas impacting the current and future state of the asset management sector, including the macro-economic and industry environments, and the ‘moral issues’ confronting those who work in it.
In order to tackle the moral issues, the report suggests, for example, considering whether the asset management sector should be an independent one that cannot cross-sell within a financial services or banking group. It also recommends that measurements, including assets under management, fund performance and asset allocation should be published in a way that can be understood and measured uniformly by all stakeholders.
The report has been written at a time of uncertain outlook for the global economy and the financial sector as a whole. Predictions for the industry over the next two to five years include the need for a new focus on operational excellence and business resilience against the backdrop of a fragmented Euro-zone; and that asset managers that remain part of large banks will see their growth slowed because of the bank brand association.
Bob McDowall, the report’s author, said: “The world of asset management is changing subtly in response to the continuing absence of consumer and investor trust and confidence in the financial services industry. This report not only examines the challenges of uncertainty in the context of the current financial & economic outlook, but evaluates how asset management, like all segments of the financial services industry, can embrace a new sense of morality to re-engender consumer and investor trust and confidence.”
The report is published as part of the Financial Centre Futures programme in Long Finance which includes the Global Financial Centres Index (GFCI).
Notes to Editors
Financial Centre Futures is sponsored by the Qatar Financial Centre Authority.
About Long Finance – www.longfinance.net – Established in 2007, Long Finance asks “when would we know our financial system is working?” It seeks to challenge a financial system that revolves around short-term thinking and practices.
About Financial Centre Futures – www.financialcentrefutures.com – Financial Centre Futures initiates discussion on the changing landscape of global finance, seeking to explore how finance might work in the future. The Financial Centre Futures’ publication series comprises the Global Financial Centres Index (GFCI).
About QFC – www.qfc.com.qu – Qatar Financial Centre (QFC) is a financial and business centre established by the government of Qatar in 2005 to attract international financial services and multinational corporations to grow and develop the market for financial services in the region.
About Z/Yen Group – www.zyen.com - Z/Yen is the City of London’s leading commercial think-tank, founded to promote societal advance through better finance and technology. Z/Yen manages Long Finance.