Global Managing Parter Ingrid Pierce discusses trends in the offshore funds industry on page 3 of the Wells Fargo Prime Services, Business Consulting Group's Industry and Regulatory Update Quarterly, dated June 2019.
"We have continued to see strong M&A activity with several take-private transactions involving our global funds group. Larger managers continue to consolidate their products, we have seen both mid-size and large managers offering increasingly tailored products for significant investors, leading to a rise in the number of funds of one. There has also been more creativity on fee levels, which has been much talked about, although we have only begun to see this taking root in the last few months.
The increasingly complex regulatory environment means that clients and their advisers have to think much more deeply about cross border regulatory issues. Our regulatory group has been engaged in advising fund clients on the recent regulations governing data protection, anti-money laundering and economic substance. We have also seen more restructuring of funds in the last six months, in particular to implement changes in redemptions terms."
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