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Magazine Issues » Dec 2018-Jan 2019

EDITORIAL: The final word

Nick-FitzpatrickThis is our end-of-year edition, so one final mention of the B-word. Blockchain’s use in distribution took a step forward in December when Calastone, a fund transaction network, said that by next May, it will have migrated its network to the distributed ledger technology.

Over in Paris, meanwhile, Matt Duncan, the CEO of Ostrum Asset Management, is determined that his firm will be among those revolutionising the industry by transacting funds on a blockchain-enabled platform.

The race – if it can be called that – to digitise more areas of fund distribution takes place alongside the continuing conversation about whether an internet giant from the US might cause an Alibaba-sized hole should it enter European asset management. The growing consensus appears to be that big tech companies such as Amazon would be hindered by regulation in that case, but there’s still no doubt fund firms have a lot to learn (if not fear) from them.

In this edition, we also look at some of the distribution issues under MiFID II, a year after it came into force.

Nick Fitzpatrick, group editor of Funds Europe

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