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Citi OpenInvestorSM

Insights for institutional, alternative and wealth managers

Welcome to Issue 1 2014 of our global publication for institutional, alternative and wealth managers.

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Featured Article

UCITS at 26: Still European At Heart: Cross-Border Distribution Survey

This three-part series will help our clients navigate recent developments in the cross-border fund marketplace. UCITS and cross-border funds, essentially a European initiative has become some of Europe's most successful financial services export. Cerulli Associates has compiled data showing that a quarter of the assets of cross-border funds are sourced from outside Europe, and the list of countries where UCITS are appearing is growing with markets as diverse as Peru in Latin America to Thailand in South East Asia. Asia has been the most successful importing region for UCITS funds since the early and mid-1990s, and while some storm clouds are gathering, the popularity of the UCITS and cross-border funds is largely undiminished.
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Globalization

Citi Insights – Your local Custodian: Managing your Risk or adding to them?

In this challenging time with market changes that demand innovation, global custodians must be dynamic in order to stay ahead of the rapidly evolving industry. With Asia liberalizing and growing rapidly, and Europe facing regulations increasing costs for global fund managers, this article looks at how global custodians are faced with the challenge of more effectively enabling clients to visualize, manage and mitigate risks to their portfolios.
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Market & Business Outlook

Emerging Market Playoffs: Asia v Latin America

Based on a Citi-hosted a panel at Fund Forum International's Global Growth Summit, this article, compares the opportunities open to fund managers in Asia and Latin America.
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Funds Passporting in the Asia Pacific Region

2013 saw three possible proposals released in Asia of the European equivalents UCITS platform for mutual funds, providing both global and local fund managers much to think about when planning the future for their businesses. Of the fifteen markets in the Asia Pacific region where mutual funds or unit trusts are actively sold, eight of them have gotten together to see whether they can agree among themselves on a "funds passport". This paper takes a look at the proposals to assist fund management companies in their planning.
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Regulatory

EMIR: Making Your OTC Data Work

The European derivatives industry has gathered pace, overcoming the misperception and delay surrounding ESMA's looming trade repository reporting regulations. This article looks at how to overcome challenges to put the right solutions in place to comply with the new data reporting regulations and how some industry participants are meeting this confidently with in-house resources while others look to outsourced solutions.
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IOSCO – Margin Requirements for Uncleared Derivatives

In September 2013, the final policy framework that outlines the minimum standards for margin requirements for non-centrally cleared derivatives was published. The framework, agreed by the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO), intends to reduce systemic risks related to over-the-counter (OTC) derivatives markets and to provide firms with appropriate incentives for central clearing. A key requirement will be for all financial firms and systemically important non-financial entities that use non-centrally-cleared derivatives to exchange initial and variation margin, commencing 1st December 2015. Read this article to understand how these changes could affect market participants.
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