Clearstream Fund Summit 2024, spotlight on Private Markets
The 19th edition of the Clearstream Fund Summit brought together a record number of participants to discuss the latest developments in fund services, asset management, and distribution technologies.
This year’s summit highlighted the growing importance of private markets, a key topic that resonated throughout the event. Private markets have increasingly become a focal point for investors seeking diversification and higher returns, and as a market leader, Clearstream plays a critical role in simplifying the investment process by providing streamlined access to both publicly and privately traded funds.
This focus on private markets was evident in the variety of sessions throughout the summit, each offering valuable insights and sparking engaging discussions.
Global financial trends and the role of Luxembourg
Clearstream’s Neil Wise opened the summit by highlighting the value of bringing together diverse expert perspectives and Clearstream’s role as a digital leader and trusted partner in fostering collaboration and driving growth in the industry. The keynote speech was delivered by Gilles Roth, the Minister of Finance of Luxembourg, who underscored Luxembourg’s pivotal role in the global financial landscape.
In their session, Niklas Nolzen and Pierre-Ignace Bernard from McKinsey presented a comprehensive overview of global trends in asset management. They discussed the industry’s evolution, noting that while profitability has declined in recent years, the future looked promising with expected global net flows of €4.5 trillion in 2024. They also pointed at the significant growth in passive investments and alternative funds, with the latter seeing a rise in assets under management from 12% in 2012 to 15% in 2023.
Strategic investments and technological transformation in asset management
Richard Garland, Managing Director at Ninety One joined Neil Wise on stage to discuss the consolidation in the asset management industry. They explored the widening gap between the top performers and the rest, emphasising the need for strategic investments and resource reallocation to drive growth.
The discussion was followed by a panel featuring Elisa Sanz, CEO of Kneip, Olivier Portenseigne, CEO of FundsDLT, and Lisa König, Head of Strategy at Clearstream, on how data excellence and DLT are transforming the global fund industry, and how digital solutions need to work across asset classes, from long-only to Private Markets. They discussed the potential of these technologies to enhance transparency, efficiency, and connectivity across the distribution chain.
Exploring new opportunities: tech innovations and Private Markets
A highlight of the summit was the fireside chat between Rashmi Madan Senior Managing Director, Head of Private Wealth Solutions EMEA, Blackstone and Philippe Seyll, CEO of Clearstream Fund Services. The engaging discussion covered opportunities and challenges in private markets and nicely set the stage for Ashish Majmundar, Global Head of Capital Markets at Google Cloud, to discuss the transformative potential of AI in asset management. He outlined various use cases, from content summarisation to personalised ads, highlighting how AI can enhance efficiency and customer experience.
In his session, Richard Bradley, Research Director at Platforum emphasised the growing importance of fund platforms in global fund distribution. He discussed the evolution of these platforms and their role in navigating regulatory complexities and fee pressures.
Prioritizing mental health: a leadership imperative
The summit concluded with a session on mental health and well-being in the workplace, led by Konstantin Struck, co-Founder and COO of Kyan Health, and Elise Pillemand, Head of HR of Clearstream Luxembourg. A focus of the discussion was the importance of a holistic approach to managing mental well-being as a leadership priority.
Once again, the Clearstream Fund Summit successfully brought together the industry and provided a platform for industry leaders to share insights and explore the future of fund services. The event underscored the importance of innovation, collaboration, and strategic investment in driving the industry’s growth. We look forward to celebrating the 20th anniversary edition next year, promising even more impactful discussions and innovative ideas.