Despite the industry’s attempt to shift into an advisory role through recommended fund lists, the mere nature of high product conviction and business considerations has opened private banks to systemic risks that could follow in the future. As the fund selection process becomes increasingly onerous and costly to private banks who have to conduct burdensome due diligence on fund houses, private…
Recommended fund lists may be creating the very systemic risks they were designed to avoid
28 November 2014
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