Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Seen & Heard at the MFWire 2011 Influencers' Summit Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 07, 2011

Seen & Heard at the MFWire 2011 Influencers' Summit

Reported by Hung Tran

Boston played host to the MutualFundWire 2011 Influencers Summit: See 2020 this week.

Speakers and attendees alike buzzed about the implications of Touchstone's planned purchase of Old Mutual's $2 billion U.S. mutual fund family, which was unveiled Tuesday. And at least one fundster hinted at the Hartford recently aborted efforts to sell its mutual fund business, which use Wellington and another arm of the Hartford as subadvisors.

When It Comes to B-Ds, 'Align With the Expected Winners, in the Consolidation Trend'

Sanjiv Mirchandani, president of Fidelity's giant clearing and broker-dealer support arm, National Financial, wowed attendees Tuesday afternoon with an in-depth look at the state of the B-D and investor worlds.

"We're seeing lots of restructuring, culling, looking at strategic options, efficiency cost plays," Mirchandani said, pointing to the "wave of regulation that's coming."

"It's only going to increase the pressure on profit margins and the minimum required scale to operate a broker-dealer," he added. "You want to align with the expected winners in the consolidation trends ... And think of your product development as how you can help the 'new normal' investor."

Fundsters 'Still Have a Lot to Do' in Terms of Marketing

On a Wednesday afternoon panel led by Wechsler Ross & Partners Dan Ross and alongside Christy White of Cogent Research and Stephen Ban of Nuveen, JPMorgan's Richard Chambers warned attendees that "from a marketing perspective, we still have an awful lot to do as an industry."

"You have to stand for something," Chambers said, pointing to the success of Vanguard's emphasis on low-cost efficiency. "There has to be a belief, an organizing principle."

"To be really successful as a brand, you have to live that throughout the organization," Ban agreed, "Build an organization that's all about the brand."

"Performance becomes the table stakes," White added. "At some point in time, you have to differentiate yourself."

MutualFundWire On My Mind

A bullish Bob Reynolds, president of Putnam Investments[see profile], on Wednesday shared an optimistic view of where he sees the US going in the next 10 years in terms of the capital markets, demographics and the "race to solvency.".

However, Reynolds began his speech noting that he started his career at Fidelity[see profile] in 1984, at the same time Sean Hanna, publisher, president and editor-in-chief of MFWire.com, began his journalism career. An attendee on the sideline noted that this was Reynold's third difference speech at three different venues within the same week. Kudos to Reynolds and Putnam's speech writing team!

In a session on Tuesday, Avi Nachmany, director of research at Strategic Insight, chided Hanna for "believing what you write," referring to Hannah's comments about Pimco's [see profile] advancement into the equities market, leading to a few loud chuckles from the audience.

And Morningstar founder Joe Mansueto, took the stage on Wednesday to accept his MFWire Innovator award. Mansueto noted MFWire's leading place among mutual funds pubs and data source and said that he'll be back to attend next year's summit.

Some Star-Driven Shops Still Blaze Brightly



Speaking Wednesday morning on a panel with Calamos Investments chief John Calamos, DoubleLine Funds chief Ron Redell pushed back against the notion that 'the star manager is dead'.

"It helps to have a star manager ... Investors, they want a Tom Brady running their portfolio," Redell told conferees. (Redell's firm launched in December 2009 and now has $17 billion in assets under management, including $13 billion in its mutual funds.) "Performance is important, but I think what investors are looking for is leadership. The light in the lighthouse is insight during those storms."

Calamos, who has built his firm into a $37-billion AUM, 340-person, publicly traded asset manager, warned attendees that nothing in this business stays the same for long.

"The business continues to change. You always find those people that think it's not going to change," Calamos said. "A business is like riding a bike uphill -- if you stop peddling, you're going the wrong way."

Neil Anderson contributed to this article. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. IDC Foundations for Fund Directors, Mar 1-2
  2. MFDF webinar - Board Oversight of ETFs, March 3
  3. FinReg Outlook 2021, March 10
  4. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  5. Irish Funds North American Digital Seminar, March 11
  6. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  7. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  8. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  9. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  10. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  11. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  12. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  13. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  14. ETF.com Awards 2020, April 20
  15. The 31st Sub-Advised Funds Forum, Apr 20-21
  16. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  17. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  18. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  19. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  20. ICI 2021 General Membership Meeting - Day 1, May 6
  21. ICI 2021 General Membership Meeting - Day 2, May 13
  22. 2021 FINRA Annual Conference, May 18-20
  23. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  24. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  25. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  26. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use