Table of Contents:
  • Foreword
  • Executive summary
  • Introduction
  • 1. The European asset management industry : a survey
  • 1.1. Investment funds. 1.2. Insurance companies. 1.3. Pension funds- 1.4. Concluding remarks
  • 2. The structure of the investment funds industry
  • 2.1. Fee structure in the fund industry
  • 3. The 2002 UCITS Amendments and the ongoing review
  • 3.1. UCITS II and III
  • 3.2. Assessment
  • 3.3. The Commission's White Paper and draft release
  • 3.4. Coherence of the retail investment product regime in the EU
  • 4. MiFID's impact on the fund management industry
  • 4.1. Uneven playing fields?
  • 4.2. Further impact of MiFID on the asset management sector
  • 4.3 MiFID and the distribution of non-harmonised products
  • References
  • Annex 1. Statistics on asset management
  • Annex 2. Basic rules of capital adequacy and asset allocation under the EU's Free Provision of Services Directive
  • Annex 3. List of task force members and invited guest speakers.