Whilst you were OOO
It’s been a busy summer for UK Fund Boards, not least of all with the planning involved for the first UKFB Senior Managers Roundtable (SMR) scheduled for the 4th of October. More of that in a minute.
I’ve also been very busy having several deep and meaningfuls with a cross-section of our industry: asset managers, industry experts, and even the regulators on what the Asset Management Market Study is going to mean in practical terms, and what it is going to take for UK authorised fund managers – yes, all 190 of them affected by these new regulations – to get over the line by next September. An early indication is that it’s going to be a dash to the finish.
One of the summer’s high points was an invitation by the Financial Conduct Authority to come in and have a chat with them on how things were developing in AFM-land. They were very interested in how the AMMS is being received industrywide. The hour-long discussion at their spanking new offices was wide-ranging as it was specific, and several of the points raised will get another airing at the forthcoming UKFB SMR.
The one thing the FCA is absolutely clear about: the AMMS is not going away. Yes, they have an appreciation of the time, effort and cost involved by the UK industry over the coming weeks and months, but believe that stronger and more transparent governance in a very important part of the UK’s financial services industry can only be a good thing. I could be biased, but I think they’re on to something here. Oh, and they’re also quite keen on much greater fund boardroom diversity – gender, obviously, but also experience and expertise. That’s definitely going to be one to watch.
So, if you’re planning on joining us for the first UKFB SMR: Preparing to Implement the Asset Management Market Study, on the 4th of October to you’re in for a treat.
Martyn Gilbey, Franklin Templeton Investments’ UK gangmaster has very kindly offered to host. BNY Mellon’s head of governance Greg Brisk will talk about why AMMS may actually be good for the UK fund industry. We also have two hard-hitting sessions on the rather vexatious requirement of Assessment of Value (Value for Money, in old currency) from Morningstar’s highly cerebral Andy Pettit, and the rugby-loving Hugues Gillibert of Fitz Partners. I, in addition to presenting some of the work that UKFB has been doing over the past six months, will also ensure that everyone who comes gets a cuppa.
The roundtable is absolutely free to attend, but it is invite-only, and places are limited, so drop me note, if you’d like to attend.
Look forward to seeing some of you on the 4th of October.