Radical change ahead

Without a return to normal working conditions by say mid-2021 there will have to be radical changes made either to international fund structures or fundamental reform to the governance rules of those structures. It might be that both will be needed.
When the coronavirus crisis arrived this spring, many anticipated that life would be returning to something approaching normal by now. That applied to the emergency measures that were adopted by international fund jurisdictions. Many are due to expire over the autumn.

The second wave of the virus has dashed the expectation that we are on the way back to normal; the pandemic could well be with us for a long time to come yet. We might still be at the early stages of a multi-year crisis. Everyone is pinning their hopes on a vaccine. But if those that have entered their stage three trials don’t turn out to be the miracles that everyone prays that they will be then the international fund industry may well have to find a way learn to live with virus for possibly years to come.

To read more on this story see the October issue of The NED.