Euroclear France, in collaboration with management consultancy Ailancy and members of the French financial services community, have agreed a set of recommendations to increase the attractiveness and competitiveness of the French fund distribution model.
The coalition’s report identified opportunities for the funds markets, such as know your customer and direct distribution, as well as suggesting more transparency along the holding chain and more development of cross-border distribution.
The report proposes developments to increase attractiveness and competitiveness of the French fund distribution model, consulted asset management companies, market infrastructures and transfer agents.
It considers how new technologies might play a role in making some processes more efficient, as well as exploring the opportunity of using fund shares for collateral management purposes.
The French Asset Management Association and The French Association of Securities Professionals have both supported the initiative.
Brigitte Daurelle, CEO of Euroclear settlement for Euronext-zone securities and central securities depositories, commented: “This new collaboration, that as a market infrastructure we wanted to have, aims at supporting the development of the asset management industry in France.”
She added: “This report is the first step of a process that will allow to further increase attractiveness of the French fund distribution model to meet the evolving needs of both issuers and investors.”
Pierre Monteillard, associate at Ailancy, said: “We believe that the French market, which comprises major industry players and has engaged many promising initiatives, is able to provide solutions that will become a reference at global level. The report allows to define and detail the required industry, regulatory and technological initiatives to fulfil this strategic ambition.”
