I was in London last week for the first time since I moved the firm over from London 18 months ago, and I saw 37 funds. In between meetings, I met with a few old colleagues. Nothing generally surprises me these days, but it really did surprise me the amount of people that I knew that were in the industry and now are in completely different areas or even doing nothing at all. How times change, and at a fast pace too.
The new big change on the horizon is MiFID II. It will really highlight what the funds are paying for and where they perceive the value. This is significant. It’s certainly a nail in the big banks coffin, but it will really separate the wheat from the chaff as they say.