1. Contact Details AIMA/PwC Global Distribution Survey … · AIMA/PwC Global Distribution Survey...

1. Contact Details

AIMA/PwC Global Distribution Survey 2017/18

Name

Company

Email Address

1. Please supply the following basic identifying information. Data from this survey will only be presentedin the aggregate and will not be attributed to any specific person or firm.

1

2. Basic Details


2. Where is your firm headquarters? Select the country from the drop-down box below.

3. What year was your firm established?

4. What was your firm's aggregate AUM in U.S. dollars as of 31 March 2017, calculated based on theNAV of the funds your firm manages and the regular pricing methodologies used for products andaccounts?

$0-$100 million

$100 million-$250 million

$250 million-$500 million

$500 million-$1 billion

$1 billion-$5 billion

$5 billion-$10 billion

$10 billion +

2

3. Your Assets Under Management (AUM) (part 1 of 2)


<10% 10-25% 25-50% 50-75% 75-100% N/A

United States

United Kingdom

Continental Europe (ex-Switzerland)

Switzerland

Middle East

Asia Pacific

Other

5. What percentage of your firm's aggregate AUM from funds and accounts managed in an alternativeasset strategy is attributable to fund investors/separate account clients in each of the following countriesor regions? (Choose one per row)

3

4. Your Assets Under Management (AUM) (part 2 of 2)


Percentage of your firm's aggegrate AUMWhere are the majority of these funds/accounts

established?

Hedge fund stategymanaged as acomingled private fund

Hedge fund strategymanaged in a UCITS

Hedge fund strategymanaged in a USregistered investmentcompany

Hedge fund strategymanaged as a separateaccount or fund of one

Private equity stategymanaged as acomingled private fund

Private equity strategymanaged in a separateaccount or fund of one

Private credit stategymanaged as acomingled private fund

Private credit strategymanaged in a separateaccount or fund of one

Other

6. For each of the types of funds and accounts listed below, please identify:-- What percentage of your firm's aggregate AUM is represented?-- In which jurisdiction are the majority of each type of product your firm manages established?Please count each fund and each account in only one of the categories. (Please select an answerchoice in each column with respect to each row)

4

5. Your Investors


Non-financial

corporations

Financialinstitutions

(proprietary)Pension

plans/funds

Endowments,foundationsand charities

Sovereignwealthfunds

Otherfunds(incl.

funds offunds)

Otherinstitutional

High networth Retail

United States

United Kingdom

Continental Europe(ex-Switzerland)

Switzerland

Middle East

Asia-Pacific

Other

7. Which types of investors are you selling to in each of the following markets? (Tick all that apply.)

UnitedStates

UnitedKingdom

ContinentalEurope (ex-Switzerland) Switzerland Middle East Asia Pacific Other

Non-financial corporations

Financial institutions (proprietary)

Pension plans/funds

Endowments/foundations/charities

Sovereign wealth funds

Other funds (incl. funds of funds)

Other institutional

High net worth

Retail

Not applicable

8. For each jurisdiction, which type of investors are the largest contributors to your firm's AUM?

5

6. Communication Tools


9. Rank the tools your firm currently uses to communicate with its investors and/or potential investors inorder of importance, with 1 being the most important. If you do not use a particular distribution strategy,do not give it a ranking and tick the corresponding N/A box to the right.

Website/web-based platform N/A

Email N/A

Post N/A

Face to face N/A

Multi-client conference call N/A

Mobile phone N/A

Office phone N/A

Social media N/A

Client conferences N/A

Third party conferences N/A

Other N/A

10. Rank the tools your firm uses to communicate with its investors and/or potential investors in order ofthe importance you think they will have in 5 years' time, with 1 being the most important. If you do notuse a particular distribution strategy, do not give it a ranking and tick the corresponding N/A box to theright.

Website/web-based platform N/A

Email N/A

Post N/A

Face to face N/A

Multi-client conference call N/A

Mobile phone N/A

Office phone N/A

Social media N/A

Client conferences N/A

Third party conferences N/A

Other N/A

6

11. What do you believe the barriers are to using a digital distribution platform to interact with investors?(tick all that apply)

Current regulation

Uncertainty of future regulation

Lack of expertise on the part of the manager's staff

Lack of expertise on the part of investors

Resources

Low uptake from industry

Lack of appetite from investors

Other (please specify)

7

7. Marketing Costs


United States United Kingdom

ContinentalEurope (ex-Switzerland) Switzerland Middle East Asia Pacific

Regulatory filing fees

Distributor fees

Other service providerfees

Travel expenses

Local marketing teamcosts

Translation fees

Other

If you chose "Other" above, please specify here the relevant expense type.

12. What is the most expensive aspect of marketing in each of the following countries/regions?

Most expensive Least expensive

United States

United Kingdom

Continental Europe (ex-Switzerland)

Switzerland

Middle East

Asia Pacific

13. Which country or region is the most expensive to market in? Which country or region is the leastexpensive to market in? For this purpose, consider all of the types of expenses listed in the priorquestion other than travel and any other expenses your firm incurs during distribution in eachcountry/region.

8

8. Distribution Channels


14. Rank your use of the following distribution channels starting with 1 as the most important. If you donot use a particular distribution strategy, do not give it a ranking and tick the corresponding N/A box tothe right.

Staff of the manager engage with investors about the product N/A

Directors of the fund market the fund N/A

A US registered broker dealer has been engaged to distribute the funds N/A

A non-US placement agent or distributor has been engaged to distribute the funds N/A

Unregistered finders and consultants locate investors for the funds N/A

Password protected website N/A

Non-password or unprotected website N/A

Private bank platform N/A

UCITS platform N/A

AIFMD platform N/A

Fund of funds platform N/A

Prime broker cap intro N/A

Other cap intro N/A

Referrals from existing investors N/A

Grades from consultants N/A

Other (specify in text question below) N/A

15. If you selected "Other" in response to the question immediately above, please indicate what otherdistribution channel(s) your firm is currently using.

9

16. Which of the channels below does your firm use to promote its brand?

Articles in third party media

Events

Social media

Advertisements

TV appearances

Website

White papers

None of the above


10

9. Sources of Investor Contacts


17. Rank the sources of new investor/client contacts used by your firm in order of importance, startingwith 1 as the most important. If your firm does not use a particular source, do not give it a ranking andtick the corresponding "N/A" box to the right.

Prior contacts of investment manager staff N/A

Capital introduction teams at prime brokers N/A

Private banks N/A

Consultants N/A

Family offices/multi-family offices N/A

Referrals from other investors N/A

Other third party marketers N/A

Attendance at industry conferences N/A

Databases N/A

Media, advertisements and/or social media N/A

Other (specify in text question below) N/A

18. If you selected "Other" in response to the immediately question above, please indicate what othersources of new investors/clients your firm is currently using.

11

10. Your Marketing Team


19. How many of the firm's employees (calculated on the basis of internal full time equivalents) areresponsible for marketing your funds?

None

1-5

6-10

10-20

More than 20

20. How is your marketing team structured?

Joint - no role specialisation, with marketing people also responsible for other functions such as ongoing client services

Specialised - distinct separation of roles, with a dedicated marketing team and separate client services team

21. Rank the following in order of importance (with 1 being the most important) with respect to hiringinternal personnel to market your fund.

Investment expertise N/A

Technical investment knowledge N/A

Investor network N/A

Number of years of experience N/A

Other N/A

22. If you selected "Other" in response to the question immediately above and ranked it either first orsecond, please indicate what other factors are of primary importance when your firm selects personnelto market its funds.

12

11. Investment Timing and Drivers


23. On average, how long is it currently taking for an investor to make an investment, measured fromyour firm's initial contact with the investor?

Less than a month

1-3 months

3-6 months

6 months to 1 year

More than a year

24. Rank the following key drivers for selecting investments in alternative asset funds in the order youthink an investors would place them, starting with 1 being the most important.

Strategy

Risk/reward analysis

Performance

Experience/longevity/pedigree of the portfolio manager

Reputation of the investment manager

Fees and expenses

Outcome of investor’s operational due diligence

Identity of the service providers

Corporate governance

Other (specify in text question below)

25. If you selected "Other" in response to the question immediately above, please indicate what otherkey drivers you think an investor would have selected had it been on the list.

13

12. Fee Structure Changes


26. Are you planning to lower the fees offered in your fee structures?

No, fees are staying the same

Yes, to increase the number of new investors

Yes, to retain current investors

Yes, both to increase the number of new investors and to retain current investors

14

13. Marketing in EU Member States (part 1 of 2)


Not marketing in this

countryPrivate placement

(NPPR)Passporting using own

EU AIFMPassporting using third

party AIFM

Austria

Belgium

Bulgaria

Croatia

Cyprus

Czech Republic

Denmark

Estonia

Finland

France

Germany

Greece

Hungary

Ireland

Italy

Latvia

Lithuania

Luxembourg

Malta

Netherlands

Poland

Portugal

Romania

Slovakia

Slovenia

Spain

Sweden

United Kingdom

27. How are you marketing in each of the EU member states below?

15

14. Marketing in EU Member States (part 2 of 2)


28. If the AIFMD passport is extended to allow EU AIFMs to market non-EU AIFs to professionalinvestors across the EU and to allow non-EU AIFMs to elect to become authorised and take advantageof the ability to market AIFs to professional investors across the EU, what approach would your AIFM(s)take with regard to non-EU AIFs? (tick the most applicable choice)

Apply to passport any non-EU AIFs marketed to EU investors

Continue to use the NPPRs until not available

Stop raising capital for non-EU funds from EU investors

Not relevant as our EU AIFM(s) only manage and market EU AIFs

Not applicable

Other


16

15. Brexit and Marketing in the UK


29. How important will the UK be as a fund raising destination for your firm post Brexit?

More signficant

Less significant

Stay the same

30. How important will the EU-27 be as a fund raising destination for your firm post Brexit?

More signficant

Less significant

Stay the same

31. My firm is currently accessing the UK market primarily through:

Cayman AIF - NPPR

European AIF - Passporting

European AIF - NPPR

Other non-EU AIF - NPPR

Not marketing to UK investors

32. Post Brexit, my firm will be accessing the UK market primarily through:

Cayman AIF - NPPR

UK domiciled fund

European AIF - NPPR

Other non-EU AIF - NPPR

Not applicable as not marketing to UK investors

17

16. Marketing Plans for 2018-2021


Non-financial

corporations

Financialinstitutions

(proprietary)Pension

plans/funds

Endowments,foundationsand charities

Sovereignwealthfunds

Otherfunds(incl.

funds offunds)

Otherinstitutional

High networth Retail

United States

United Kingdom

Continental Europe(ex-Switzerland)

Switzerland

Middle East

Asia-Pacific

Other

33. For each country or region where you expect to actively market in the period 2018-2021, pleaseidentify the types of investors your fund intends to target. (Tick all that apply.)

United States United KingdomContinental Europe

(ex-Switzerland) Switzerland Middle East Asia Pacific Other

Non-financial corporations

Financial institutions (proprietary)

Pension plans/funds

Endowments/foundations/charities

Sovereign wealth funds

Other funds (incl. funds of funds)

Other institutional

High net worth

Retail

34. For each country or region where your firm expects to actively market in the period 2018-2021, please identify the type of product that your firmanticipates will be the most frequently sold to the selected type of investors. (Please select an answer choice in each column with respect to each row

18

17. New Fund Launches


Are you planning to launch this

type of fund?In which country are you planning

to establish it?Will this be a new type of product

for your firm?

Hedge fund stategymanaged as acomingled private fund

Hedge fund strategymanaged in a UCITS

Hedge fund strategymanaged in a USregistered investmentcompany

Hedge fund strategymanaged as a separateaccount or fund of one

Private equity stategymanaged as acomingled private fund

Private equity strategymanaged in a separateaccount or fund of one

Real estate stategymanaged as acomingled private fund

Real estate strategymanaged in a separateaccount or fund of one

Direct lending stategymanaged as acomingled private fund

Direct lending managedin a separate account orfund of one

Other private creditstategy managed as acomingled private fund

Other private creditstrategy managed in aseparate account orfund of one

Other

35. Please fill in the following criteria if your firm is planning to launch a new alternative fund in theperiod 2018-2021. (Please select an answer choice in each column with respect to each row)

19

1. Contact Details AIMA/PwC Global Distribution Survey … · AIMA/PwC Global Distribution Survey...

Documents

Transcript of 1. Contact Details AIMA/PwC Global Distribution Survey … · AIMA/PwC Global Distribution Survey...