Recent Developments in Asset Management

Fiona Price and Carl Schwartz
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Carl Schwartz: Reserve Bank of Australia

RBA Bulletin (Print copy discontinued), 2015, 69-78

Abstract: The global asset management industry has grown rapidly following the global financial crisis. International standard-setting bodies and national regulators are working to better understand and, if necessary, address potential financial stability risks from this industry. A particular concern is that, in the event of a significant negative shock to current favourable conditions, some funds may experience substantial redemptions, and so be forced to engage in asset ‘fire sales’ that could be destabilising for the financial system. This article provides background on international developments, as well as some Australian context.

Keywords: Asset management; Asset managers; Collective investment vehicles; Investment funds; Managed funds; Systemic risk; Investor redemptions; Liquidity; Asset fire sales; Counterparty risk; International regulatory reforms (search for similar items in EconPapers)
Date: 2015
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