News Round-up: Industry reacts to the first months of the Overseas Fund Regime
This week, the industry weighed in on their experiences of the long-awaited Overseas Fund Regime, Goldman Sachs explored the sale of its ETF Accelerator platform and Manooj Mistry, COO at HANetf, reflects on his 25 years in the industry.
The Overseas Fund Regime (OFR) has been broadly well met across the industry after it commenced at the end of Q3 this year. HANetf – who registered a new platform under the OFR a few days after the Financial Conduct Authority (FCA) began opening applications – said it has been an overall “positive experience”. Meanwhile, Peter Capper, senior adviser for international fund regulation at The Investment Association said that some approvals had been completed in as little as a week, while existing funds that have been allocated ‘landing slots’ might be a slightly more challenging process. Lauren Gibbons has the full story.
Elsewhere, Goldman Sachs is exploring the sales of its newly launched ETF Accelerator platform, according to reports from Bloomberg. The platform has launched one ETF since its inception - the AI-Enhanced European Equity ETF (EUAI) - but has also pointed to a “strong” pipeline in an interview with ETF Stream. New entrants have eyed a 2025 entry into the ETF white labelling space, including Citigroup and Allfunds. Read the full story here.
Finally, Manooj Mistry, COO at HANetf said that the ETF wrapper's exponential growth is now forcing fund houses to reassess entering the burgeoning European market. Mistry – who won outstanding Contribution To ETFs at the ETF Stream Awards 2024 - said legacy fund managers are now at an inflection point. “Going forward, we will likely see traditional asset managers launching more ETFs than mutual funds and perhaps even mutual fund closures as they rationalise their product ranges.” Jamie Gordon has the full story.
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