Investors are becoming more demanding and both the traditional closed-ended and open-ended fund model showed its weaknesses during the period of volatility.
The recovery of the market for fund raising is likely to see the emergence of new types of funds seeking to cater for the varied demands of investors. There has been an increase in interest in debt funds and the move from defined benefit to defined contribution pension provision is also creating a driver for product development.
We have also seen the emergence of arrangements that blur the boundaries between what was traditionally regarded as a fund and what was traditionally regarded as a segregated account.
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