Rethinking Asset Management: From Financial Stability to Investor Protection and Economic Growth

Mirzha de Manuel and Karel Lannoo

CEPS Papers from Centre for European Policy Studies

Abstract: Fresh prospects are opening for asset managers as Europe seeks to reduce its historical reliance on banking and to promote capital markets. But following the financial crisis, the industry faces a dual challenge: regaining investors’ trust and coping with the post-crisis regulatory reform. Much rides on its ability to make investment funds deliver better results to its investors. Distribution remains the major stumbling block, but action is also needed to promote the contribution of asset management to the real economy and to preserve financial stability. In response to these challenges, CEPS and ECMI formed a Task Force composed of market participants, international experts, regulators and academics who met regularly throughout 2011 to closely examine the workings of the asset management industry and its role in the EU economy. This report draws the link between asset management and several key issues: financial stability, product integrity, investor protection and the real economy. It evaluates the discussions on product integrity in UCITS and ‘shadow banking’, as well as the many legislative proposals that are currently under consideration – including implementation of the alternative investment fund managers Directive (AIFMD), the review of the markets in financial instruments Directive (MiFID II) and packaged retail investment products (PRIPS). In an effort to make these complex issues comprehensible to a broad group of readers, the report combines clear language and straightforward introductions with detailed analysis and technical illustrations.

Pages: 216 pages
Date: 2012-04
New Economics Papers: this item is included in nep-eec and nep-fdg
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.ceps.eu/system/files/book/2012/04/Rethi ... ment%20e-version.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.ceps.eu/system/files/book/2012/04/Rethinking%20Asset%20Management%20e-version.pdf [301 Moved Permanently]--> https://www.ceps.eu/system/files/book/2012/04/Rethinking%20Asset%20Management%20e-version.pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eps:cepswp:6840

Access Statistics for this paper

More papers in CEPS Papers from Centre for European Policy Studies Contact information at EDIRC.
Bibliographic data for series maintained by Margarita Minkova ().