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B. G., Opalesque Geneva:

The fourth edition of the KPMG Large-scale Management Companies & Alternative Investment Fund Managers Survey issued this month covers 22 ManCos (including 18 of the 20 largest ManCos in Luxembourg) and 19 AIFMs.

A ManCo (management company) performs collective portfolio management services (e.g. portfolio management, administration and marketing) of UCITS and/or alternative investment funds. Luxembourg hosts about 300 ManCos holding a UCITS or AIFM licence or both. A ManCo is a catch-all for all fund management companies that include AIFMs (Alternative Investment Fund Managers). AIFMs specifically look after alternative investment funds (AIFs).

Transformation strategy more focused on refinement

From last year's ManCo Survey, KPMG concluded that the transformation of ManCo and AIFM operating models was in full swing. This year, the transformation strategy is more focused on the refinement and consolidation of processes and workflows. However, the evolution of operating models is still continuing.

There is a cultural shift towards a new service provider mindset, which has prompted the review of governance ar......................

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