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Bonaire Survey Shows Regulation Prompting Fund Firms to Leverage Technology for Luxembourg Growth

  • 86% of respondents intend to grow Luxembourg mutual fund business through technology
  • 77% highlight regulation as driving firms to deliver greater transparency to investors

Bonaire Software Solutions, LLC, a leading provider of revenue management and business intelligence solutions to investment managers, mutual funds, funds administrators, wealth managers and capital markets firms, today announced survey results concerning mutual fund firms seeking to grow business in Luxembourg.

When asked to identify the top two regulatory initiatives influencing the funds business, 81% of respondents flagged FATCA. UCITS IV and AIFMD tied for second at 24% each. According to 77%, these regulations are prompting firms to deliver greater transparency to investors.

“Due to the Luxembourg and general EMEA’s strong funds business – regulators, custodians, administrators and firms have a deep understanding of the industry and are quick to adapt global regulatory initiatives for regional application,” explains Chris John, CEO of Bonaire. “Firms looking to increase business in the area must invest in the infrastructure required to demonstrate the transparency and accuracy regulators and investors demand.”

Of the fund firm representatives polled, 86% are leveraging technology to spur additional business in the region. Respondents indicated that client reporting (60%), regulatory compliance (55%), and data management (45%) ranked among the top concerns being addressed by technological advancements.

“Solid data management and the ability to offer due diligence and verification procedures in this regulatory environment is clearly a business differentiator,” continues John. “At Bonaire, we’ve found that the power to automate invoice and fee validations to investors and deliver strong data management is no longer a nice-to-have for fund firms, but instead a must-have. As our survey numbers show, the demands of the Luxembourg market align with the global trends we are seeing in the funds space overall.”