Spring 2012

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With this issue of Thought, "Change/Action," we explore some of the complex transformations taking place now and those that lie ahead. Our subject-matter experts present their perspectives on global regulatory reform in 2012, the challenges and benefits of interoperability in the European clearing market and the trend for product convergence in the mutual fund and hedge fund arenas. We also examine issues facing multinational pension sponsors and provide guidance to asset owners in Asia seeking assistance from transition managers.

With so much regulatory detail still being sorted out, the full impact ahead has yet to be understood. At J.P. Morgan, we make it our mission to partner with you to ensure you have the resources to be ready to address these challenges.

2012 Regulatory Developments: A Busy Year Ahead
J.P. Morgan's Sheenagh Gordon-Hart provides a summary of key global regulatory changes and their effects upon the industry in 2012.

Competition or Consolidation? The Outlook for Interoperability Among European CCPs
As central clearing parties evolve, Mike Reece observes how the industry can look to the efficiencies of interoperability in European clearing.

Continuous Innovation in Asset Servicing: The Convergence of Mutual and Hedge Funds
Both hedge fund and mutual fund managers have responded to investors' changing priorities with new products – a convergence that creates both opportunities and challenges, by Russell Warren.

A European View of Multinational Pensions: Achieving Global Consistency, Operational Efficiency and Strong Cross-Plan Governance
An overview from Kate Spencer examines the trends and challenges ahead for multinational pension sponsors, particularly within the EU.

Transition Managers: Not All Created Equal
Kirit Bhatia offers valuable insights for asset owners in Asia as they explore the issues posed during the selection of a transition manager.