Publications

Asset & Wealth Management in Spain

Spain is the fourth largest economy in the Eurozone and one of the world’s largest tourism destinations. The country felt the full brunt of the global financial crisis, sinking into a deep and prolonged recession that began to turn around in 2014. Despite this, the Spanish Asset Management industry has experienced strong growth in recent years, with total AuM rising by 70% from 2010 to 2015. The growing market will further benefit local investors as the move from bank deposits to investment funds continues to trigger an investment fund revival. With this in mind, if institutional investors become more engaged in channelling their assets into the investment industry, the Spanish fund landscape could be completely transformed.




Global InsurTech Report 2017

The pace of change in the Financial Services industry is accelerating, and while the insurance world won't change overnight, many have begun to look outside their own organisations in order to respond to challenges and take opportunities. New products and services are developing which meet the needs of an expanding and changing customer base. Costs will begin to decrease as new ways of doing business evolve and emerging technologies, such as artificial intelligence (AI) and the Internet of Things (IoT), not only provide customers with a better experience, but also streamline back office operations. InsurTech is reshaping the insurance industry. Previously viewed as a disruptive force, it is now driving innovation across the sector.




Global FinTech Report 2017

The pace of change in Financial Services seems only to be increasing - as does the urge for the industry to react. The forces shaping this change have led us to reconsider the role of finance, more as an "enabler" than a provider of financial products and services. The influence that FinTech is having on the market is growing and the long-term potential is even greater. This report assesses the continued rise of new business models and emerging technologies in the Financial Services sector. Our analysis is based on a global survey of 1,308 financial services and FinTech executives and includes insights and proprietary data from PwC’s DeNovo platform.




CEO Survey Luxembourg 2017

For the last two decades, PwC has asked business leaders around the globe about the trends reshaping business and society. As we mark the 20th year of our annual CEO Survey, we've decided to take a closer look at the opportunities and challenges specific to Luxembourg.




Global Fund Distribution 2017 - Poster (March 2017)

The PwC Market Research Centre has just released the 18th edition of its annual Global Fund Distribution Poster. Since its first edition, the annual poster has become a reference tool for asset managers who need a quick overview of the global cross-border fund market.




Asset & Wealth Management in Switzerland

Switzerland continues to be an attractive wealth management location, with many benefits such as economic and political stability. As regulatory changes are transforming its landscape more and more international asset managers are entering the market while ensuring at the same time investor's protection. The private banking sector, which traditionally has been the largest distribution channel of investment funds, is undergoing major changes. However, despite the changes, it is still the world's number one leader in terms of cross border wealth management.




Luxembourg Fund Governance Survey 2016

This year's Luxembourg Fund Governance Survey reflects the results of a survey undertaken jointly by PwC and ILA between July to September 2016.




Global Pension Funds

Traditionally, pension funds have invested in the two main asset classes (bonds and equities) with a long-term investment perspective in line with the duration of their liabilities. In recent decades, pension funds have further diversified their portfolios by successfully allocating assets to alternatives, such as private equity, real estate, infrastructure and hedge funds (hereafter referred to collectively as alternatives).




Asset and Wealth Management in Germany

Our country reports are a must have for Asset & Wealth managers considering opportunities in a particular country or trying to understand the latest asset management trends, investor appetite for various asset classes, ease of market entry, level of competition and distribution channels. Germany is the number one destination for crossborder UCITS products and is typically the first target for most fund promoters looking to start a crossborder strategy. Large institutional, wholesale and retail asset pools are wide spread throughout the German investing landscape. They offer a myriad of distribution opportunities for fund managers and new entrants aiming to gather German assets. With this report, we aim to guide asset managers in their business development strategies.




Banking in Africa matters

In this report, we focus on the challenges facing banks and the strategies being implemented to adapt to new trends, from the perspective of bank CEOs.




European Institutional Investors - Poster

The European Institutional Investors poster provides a quick, yet comprehensive overview of the European institutional market including the size and structure of the market, the asset allocation breakdown, the top locations and the largest investors. The poster also highlights the country origins and destinations of European portfolio investments outside Europe.




European ETF Listing and Distribution

The previous years have confirmed a phenomenal growth in the global ETF market. As it's now reaching a mature level, there's a slight slowing down. The AuM of the EU domiciled ETFs grew from EUR 420.2 billion in March 2015 to EUR 439.7 billion in June 2016, which is a very modest grow (4.6%) compared to the last year(45.8 %).




Customers in the spotlight: How FinTech is reshaping banking

Asset and wealth managers should watch FinTech companies closely and adopt a responsive digital strategy. Otherwise, they face losing part of their business to new entrants.




Customers in the spotlight: How FinTech is reshaping banking

Consumer banking is on the verge of disruption, much of which is led by the disaggregation of simple products and service offerings.




PwC Market Research Centre

In a dynamic, fast-paced, competitive business environment, it is more important than ever not only to manage challenges, but also to adapt your organisation or business while taking advantage of them. Understanding the drivers of your industry and the evolving forces of change is fundamental to developing successful strategies.




Opportunities await: How InsurTech is reshaping insurance

Insurance companies are very much aware of the FinTech revolution: 74% of respondents see FinTech innovations as a challenge for their industry. There is a good reason to believe that insurance is indeed heading down the path of disruptive innovation, whether it is the effect of an external factor, such as the rise of the sharing economy, or the ability to improve operations using artificial intelligence.




Asset Management in the social era - #SocialMediaStudies

Social media usage in Asset Management has evolved rapidly, and the factors driving that change have also intensified. As the pace of change in the social media environment is brisk, Caceis and PwC Luxembourg have just published the second study of the #SocialMediaSeries. In this new thought leadership piece, you will find updated information on all aspects of the intersection between social media and asset management.




Luxembourg FinTech Report 2016

FinTech is changing the Financial Services (FS) industry from the outside in. We estimate within the next 3-5 years, cumulative investment in FinTech globally could well exceed $150bn, and financial institutions and tech companies are stepping over one another for a chance to get into the game.




Sovereign Investors 2020

Sovereign investors continue to increase in number, size, variety and scope. In this group we include Sovereign Wealth Funds (SWFs) and the very large Public Pension Funds (PPFs) who are active in the global market place and have many of the characteristics of SWFs.




Global FinTech Report

At the intersection of finance and technology lies a phenomenon that has been accelerating the pace of change at a remarkable rate and is reshaping the industry’s status quo—FinTech. The insights shared in this report are based on a unique and comprehensive global survey of over 500 senior FS and FinTech executives looking at the current and emerging trends in FinTech. We complemented the study with our own insight and analysis into why FinTech is disruptive and how different organisations can and should respond to its challenges. The report is also fuelled with proprietary research from DeNovo, a new platform powered by Strategy& and PwC, focused on FinTech innovation and its impact on financial institutions.




Enhance your Global Distribution Strategy

The rise in the volume of investable assets which has occurred over the last two or three decades is set to continue increasing in the future, and investable assets are expected to be significantly higher in 2020 than they are today.




Capital Markets Union: integration of Capital Markets in the European Union

Our report focuses on the objectives of the European Commission's initiative to develop a Capital Markets Union.




Beyond their Borders: Evolution of foreign investment by pension funds

Pension funds fulfil a critical role in the economy as they channel the savings of millions of people into investable financial assets and convert them into a post-retirement income. They represent the largest institutional investors at the global level with total AuM of USD 37.6tn in 2014, and their assets are set to reach USD 56.5tn by 2020 as both developed and developing countries attempt to increase the portion of their populations covered by pensions.




Reshaping retail fund distribution: Winning strategies and tactics in a disrupted environment

Fund distribution is at a turning point. Although the status quo of the industry has been in a state of continuous metamorphosis for some time, the latest regulatory agenda, a profound shift in the investor base, and recent technological developments are accelerating the pace of change.




Africa Asset Management 2020

Africa presents an exciting opportunity: as wealth continues to increase, more domestic investors emerge, while improvements in regulatory frameworks are enticing foreign investment and distribution. In this report we seek to highlight the potential opportunities and challenges that may lie ahead for investors and how they can plan for 2020 and beyond.




European Institutional Investors - Poster

The European Institutional Investors poster provides a quick, yet comprehensive overview of the European institutional market including the size and structure of the market, the asset allocation breakdown, the top locations and the largest investors. The poster also highlights the country origins and destinations of European portfolio investments outside Europe.




The World in 2050

In this latest World in 2050 report we present economic growth projections for 32 of the largest economies in the world, accounting for around 84% of global GDP.




Luxembourg Fund Governance Survey 2014

The seventh edition of the Luxembourg Fund Governance Survey was conducted jointly by PwC and Institut Luxembourgeois des Administrateurs during the months of July to October 2014. The survey takes an in-depth look at governance practices within funds and management companies established in Luxembourg. Once again, the high response rate to our survey underscores the central role governance plays in the Luxembourg fund industry.




Needs of Institutional Investors in the New Alternative World

Government directives are massively changing the playing field and a large range of new players are being impacted by these rules. Consequently, financial institutions are rethinking their business strategies in order to find the right balance between compliance and the generation of predictable and uncorrelated returns. This report considers the factors successful alternative asset managers should consider when tailoring solutions for institutional investments of the future.




Asset Management moves into the spotlight

The time is right for asset management to move into the spotlight and increase its role in supporting the global economy. However, the asset management industry will need to ensure that regulators and policy makers do not overregulate the industry, thereby impeding its efforts to play a more decisive role within the global economy. In our current economic climate, the industry must build and strengthen its trust with the public, regulators and policy makers and provide innovative, sustainable solutions. As asset management moves into the spotlight, it will have to rethink its relationships with key stakeholders (investors, distributors, regulators and policy makers) and evaluate, then adapt, its operations and business models to the new paradigm.




Where do you Renminbi?

The internationalisation of the Chinese Renminbi (RMB or ¥) could be one of the most significant developments in global finance for the coming decade. Economists and futurists have been predicting the "Chinese Century" for years and myriad indicators suggest it has finally arrived. Since the dollar eclipsed the pound as the world's most influential currency, China has become the world’s largest exporter and second largest importer of goods and the Chinese government hopes its currency will soon reflect this reality. Hence, internationalising the RMB is one of China's utmost priorities.




Asset Management 2020 - A Brave New World

Amid unprecedented economic turmoil and regulatory change, most asset managers have afforded themselves little time to bring the future into focus. But the industry stands on the precipice of a number of fundamental shifts that will shape the future of the asset management industry. To help asset managers plan for the future, we have considered the likely changes in the asset management industry landscape over the coming years and identified key gamechangers which will impact the competitive environment.




Social Media Studies - Asset Management in the Social era

Social Media is changing the way people communicate and interact with each other, and by extension, it is impacting the way we do business today. From the asset manager's perspective, social media provide opportunities as well as challenges. In this report, we seek to identify the current state of asset management with regard to social media usage. We consider how leading asset managers in this area are interacting with end investors, and enumerate key considerations when implementing a social media strategy.




Taking the Reins - A roadmap for navigating the institutional investors' universe

PwC and CACEIS conducted a survey which measures the satisfaction of European institutional investors with external asset managers. The report highlights institutional investors' awareness and the importance they place upon a number of criteria critical to their relationship with asset managers. The survey's responses fell into two categories: areas in which satisfaction is being met, like expertise, quality of advice, operational strength and independent verification; and those in which expectations are falling short, including performance, fees, risk transparency and the quality of reporting. The analysis and conclusions taken from institutional investors' responses gave rise to the PwC-CACEIS Assurance Model, which should be at the forefront of any asset manager's mind when considering offering their services to institutional investors.




Rethinking Distribution

The report anticipates a number of key drivers of change and resulting scenarios for the industry. Overall, the research found that drivers such as regulatory developments with a strong focus on consumer protection and regulation at the point of sale; the shift of global economic power toward SAAME (South America, Asia, Africa and the Middle East) countries; the ageing of the population; competition from substitute products; and greater use of social media are set to challenge the asset management industry to come up with new thinking to promote their products in a manner that is different from current traditional patterns.




Ideal Advice

Within this report we examine the state of play of financial advice within Europe and provide a set of key recommendations which we believe are critical to enhance the overall quality of investment advice. In our view, now is the time for our industry to take bold and convincing steps and an active role in achieving a business model that is both sustainable and investor centric.