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AMIC reports
AMIC publishes statement on fund delegation (April 2018)
ICMA’s Asset Management and Investors Council (AMIC) has today published a statement on fund delegation, underlining the importance of fund delegation to the asset management business model and the threat from recent legislative proposals.
Delegation is one of the key pillars supporting the EU’s cross-border investment model which has made UCITS, and increasingly AIFs, a global brand and a European success story. The European Commission’s proposal to review the European Supervisory Authorities gives the European Securities and Markets Authority the power to issue opinions on existing and future delegation arrangements. AMIC believes this proposal could threaten the success of the European asset management business.
AMIC believes it is important not to jeopardise well-functioning savings and investment markets that European asset managers serve through policy initiatives that may have good intentions but result in potentially serious damage to the industry.

Joint AMIC/EFAMA Leverage Report (July 2017)

The International Capital Market Association’s (ICMA) Asset Management and Investors Council (AMIC) and the European Fund and Asset Management Association (EFAMA) have published today a report on leverage in investment funds. This paper analyses how leverage is used, how the European legislative framework regulates leverage, how international regulators are addressing this topic and how the risks related to leverage are addressed from a technical perspective.

The report also puts forward a number of recommendations to improve monitoring and analysis of leverage risk:
  1. The existing regulatory standards at the EU level can be the basis for developing, at global level, leverage and risk measurements through a matrix of different measures. This would allow a meaningful representation of a fund’s exposures, given that there is no single measure that can capture all the risks in nature, size and characteristics associated with a fund’s underlying assets and strategies;
  2. Further streamlining of global calculation methodologies for leverage and risk. Regulators should in that respect rely upon the existing EU regulatory regime;
  3. Adjustments and updates of these methods, particularly the 2010 CESR Guidelines, based on the best practices at EU level, could be envisaged if necessary; and
  4. Data sharing among regulators of already reported data is key and should be improved at both EU and global level. This would enable regulators to better assess the overall risks related to funds in Europe and globally.
The report is available here and the press release is available here.

Fund Liquidity Report (April 2016)

The International Capital Market Association’s (ICMA) Asset Management and Investors Council (AMIC) and the European Fund and Asset Management Association (EFAMA) have published today a report on the legislative requirements and market-based tools available to manage liquidity risk in investment funds in Europe. The report also offers some recommendations to further improve the general liquidity management environment.

To view the press release, click here.
To view the report, click here.
To view an executive summary, click here.

The Future of the Savings Industry Report (2013)

The report intends to show that the future of this industry is bright, and offers many opportunities to those who work in it. It will be significantly different from the present, that there are major changes afoot which will affect institutions and individuals alike, and that they – individually, severally as companies and collectively as an industry – need to adapt to survive.

ETF report (2011)

The AMIC published a report which a description of different types of ETFs and the current state of the ETF market, assessments of market trends in ETF development and usage, the future development of the ETF market and the value of the ETF 'brand'.

Managing Client Expectations Paper

AMIC issued a paper ‘Managing Client Expectations’ recognising and addressing the asset management industry’s reputational issues, many of which predate the current market crisis.

Money Market Funds Report (2008)

AMIC published a report on money market funds.