Case Study: Delivering a TTF Solution

ABOUT

Our client was an Asset Manager with over $300bn looking for a Global (excluding USA) and fully scalable capability to provide clients with TTF solutions.

 

BACKGROUND

  • Product Development best practise requires to initiate a product, only when the client requirement is understood and clearly delivers value to the client. The existing products must be reviewed on a regular basis and ensure they deliver value and are achieving what they were set out to achieve
  • Clarity and transparency in charging structure.
  • Economically sensible and with longevity.
  • Full business engagement and compliant with Product Development and regulatory requirements whilst ensuring that key business stakeholders and clients are edged throughout the process.

 

CHALLENGE

  • A number of existing clients required specific/bespoke solutions (from hedging to single funds) that would enable to take advantage of their marginal tax rate (Charities, Pension Funds, Family Offices key clients).
  • Approach product development and provision of solutions form a novel perspective: how to match the client’s needs / requirements to the existing capabilities of the business in order to maximise value and sensible product economics with minimal/no sunk costs?
  • Ultimately it would deliver the ability to meet client needs through leveraging the existing capabilities.

 

PROCESS & CAPABILITIES DELIVERED

Process:

  • Initial engagement with Clients, Front office, Distribution and Product to understand key requirements / wants.
  • Clear mapping of those requirements to existing business capabilities.
  • A full assessment of all the potential options in terms of:

–   Regulatory regimes
–   Risk management requirements and restrictions
–   Time to market (with a target to launch a fund in 6 weeks if all investment instruments/capabilities are supported by the Asset Manager

 

What was delivered:

  • A full assessment of the options across key jurisdictions: Ireland, UK, Netherlands, France and Luxembourg.
  • A detailed analysis of each jurisdiction to understand the regulatory regime and how it relates to each one of the client requirements and business capabilities in order to maximise value and minimise set up / sunk costs.
  • A business case that was fully approved at Board Level by leveraging existing business capabilities and minimising set up costs.
  • A tool to calculate fees, price products/funds and fee calculator (later extended as a key enabler across all other product ranges at this Asset Manager).

 

To find out more about the services we offer across consulting, from advisory, resource augmentation, interim or managed services please get in touch with one of our team.

 

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