RETHINKING DISTRIBUTION

Table of contents

Message from the authors

3

About this report

4

Executive Summary

6

Introduction

10

Key drivers of change • Increase in regulation

14

16

• Increased exposure to emerging markets • Change in investor trust and loyalty patterns

18

20

• Focus on pension and retirement products and solutions

22

• Increased separation of alpha and beta and competition from other financial products

24

• Increasing use of technology to reach investors

26

tion.com

Scenario Planning • Distribution Models

30

31

• Global Fund Distribution

35

• Pension and Insurance Markets

38

• Substitute Products

42

• e-Investors

46

Conclusion

52