(Only available in French) L’Autorité des marchés financiers (AMF) a diligenté une étude et une campagne de contrôles SPOT* sur le respect des engagements extra-financiers contractuels des fonds (OPCVM** et FIA***) gérés par les sociétés de gestion de portefeuille (SGP). L’AMF a publié sa synthèse le 12 juin 2023.

(Only available in French) Dans la continuité des mesures prises en octobre et novembre 2022 pour faciliter l’introduction des outils de gestion de la liquidité dans les organismes de placement collectif (OPC), le 12 juin 2023 l’Autorité des marchés financiers (AMF) publie une nouvelle mise à jour de son instruction DOC-2011-21 pour prendre en compte les...

Risk management (and in particular the exchange of initial margins and variation) for derivatives contracts not cleared by a CCP* is the subject of a dedicated delegated regulation (2016/2251).

The General Assembly season, which is the time of the year when many organisations and corporations hold their annual shareholder meetings or AGMs, is ending. During these meetings, the company's owners (the shareholders) ratify decisions on topics such as past financial performance, future strategy, leadership change and, more recently Environmental and...

The European MiCA regulation on crypto-asset markets was finally published on June 9, 2023, in the OJ of the European Union.

The pandemic, war, persistent environmental degradation, and inequality mean that the role of sustainability in business and investment has never been higher profile. In addition, ESG and sustainable investment found themselves the subject of healthy debate too. Against this backdrop, Lloyd McAllister, Head of sustainable investment at Carmignac outlines five...

Private market funds have been growing in popularity over the past decade, offering institutional and high-net-worth investors access to alternative investments and diversified portfolios. The demand for access to these funds is increasing, and this trend is set to continue.

"Following a decade of low interest rates and massive liquidity injections during the pandemic, shrinking liquidity and higher rates are a game changer." Bernadette Busquere and Jean-Baptiste Berthon explain why.

Over the past decade, private markets investors have benefitted from a Goldilocks scenario that has its roots in the global financial crisis and Madoff saga. But since last year, this has been countered by three headwinds: inflation, higher interest rates and geopolitical uncertainty. However, we believe that the long-term prospects for private capital remain...

Long holding centre stage due to work conducted to increase user autonomy, the digital transformation* is now entering a maturity phase, where, far from the “wow” factors of the early days, now the search for long-term value takes precedence and guides the efforts made.

Over the past decade, the asset management industry experienced rapid growth, largely due to equity markets. The S&P 500* averaged a 10% annualised return over the past 90 years, ~7.5% (2001-21) and ~16.5% (2011-21). In the ten years ending 2022, inclusive of last year’s challenges, the index averaged 12.7%, almost 30% above the 90-year trend.**

It was Winston Churchill who said: “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” I used to be firmly in the optimist category. Problem? Face it head on! Something wrong with the system? Change it from the inside! But what has been achieved so far when it comes to sustainable development? I am...

A month and a half on from the banking stress triggered by the failure of two US banks and the difficulties encountered by Credit Suisse, the markets appear to have calmed down after the First Republic case was resolved with its acquisition by JP Morgan.

Societe Generale Securities Services Ian Duffy and Michael Clifford explain how Irish investment limited partnerships herald new opportunities for private equity managers.

The global economy relies on efficient, open and resilient markets to effectively allocate capital and stimulate innovation, productivity and growth. The private sector is indeed essential to global prosperity: across OECD countries, over 80% of workers are employed by the private sector*, and businesses contribute 72% of GDP**.