UK asset managers have been "slow to adapt" to increasing regulatory pressures and are missing out on attracting inflows and new developments in technology, as they struggle to reform legacy issues such as fund charges and distribution processes, according to KPMG.
In a new report titled Evolving Investment Management Regulation, the consultancy firm said investment companies around the world need to "fundamentally" adapt their business models in line with growing pressures on transparency, technological innovation, communication, and cost regulation. "Investment firms have the distinct sense of someone breathing down their necks. This is uncomfortable and at times frustrating, but firms need to respond constructively to this closer scrutiny. "While [they] struggle to address legacy issues like fund charges and distribution processes, they risk ...
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