Fund distribution under MiFID II
Strategic considerations for investment managers distributing funds across the EU
MiFID II will have a significant impact on the distribution of investment funds, and this impact will vary across distribution channels. Firms managing funds which are sold across the EU will need to consider how this will affect their business.
Under MiFID II, distribution will be reshaped by new rules on product governance, the appropriateness test, inducements and disclosures to investors. In October, Deloitte published a paper looking at the strategic impacts of MiFID II on investment managers across different parts of their business. On distribution we concluded that MiFID II may further drive an increase in direct-to-client (D2C) offerings and digital services. However, the impact will vary across the EU depending on local distribution models. This article looks at these differences in more detail and considers how firms could position themselves in light of the impact of MiFID II on each distribution channel.
Performance magazine issue 19, January 2016
Performance is a triannual digest, dedicated to investment management professionals, which brings you the latest articles, news and market developments from Deloitte’s professionals and clients.