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European fund management risk and regulation research chair created

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Edhec-Risk and Caceis have created a research chair on risk and regulation in the European fund management industry, through which Edhec researchers will develop solutions to the major

Edhec-Risk and Caceis have created a research chair on risk and regulation in the European fund management industry, through which Edhec researchers will develop solutions to the major risks currently faced by the asset management industry in Europe.

The chair will be headed up by Noël Amenc, director of Edhec-Risk (pictured).

The purpose of the research chair is to analyse the major risks faced by the main actors in the European fund management industry due to their practices and the regulations; measure the importance of these risks and their impact on the actors’ solvency and business models; and propose rules and solutions that will enable the risk of the actors in the fund management industry to be limited.

Amenc says: ‘The financial crisis that we have been experiencing for the last two years has had some unprecedented consequences for the fund management industry. Up until now, financial crises only had negative consequences on the revenues of industry players by affecting the volume of assets managed on behalf of investors, with the latter being alone in bearing the risks of their investment. The most recent crisis has impacted not only the revenues, but also the operating expenses of third-party asset managers. Fund management firms and their service providers have had to take on some of the costs relating to the risks of the investments that they manage, conserve, price or audit. More specifically, this crisis is synonymous with a transfer of a portion of investor risk towards the providers of investment and related services.’

François Marion, chief executive officer of Caceis, says: ‘The current period is a critical one for the European fund management industry because the responsibilities of the various actors in the industry have not always been clearly defined. As one of the leading asset servicing providers in the world, Caceis is well aware of the importance of these issues for our clients and we are convinced that our partnership with Edhec-Risk will provide solutions to measure, price and allocate the risks of all industry players. Edhec-Risk has a proven track record of providing valuable applied research to the industry and we are delighted to continue our long-term association with their research team within the framework of this chair.’

Caceis is a banking group dedicated to institutional and corporate clients.

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