Daniel Siepmann : A long-term perspective

How are investor behaviour and market dynamics shaping fund strategies?

Investor behaviour is becoming increasingly differentiated. Large asset managers tend to focus on specific segments such as real estate, bonds or private equity, while external asset managers emphasise diversification, efficient portfolio management and risk control. Family offices and institutional investors, in turn, are leveraging their long-term horizons to expand into alternative and often illiquid asset classes. Fund structures play a central role here, as they enable access to complex opportunities and efficient capital pooling. Against this backdrop, rising interest rates since 2022 have triggered valuation adjustments - particularly in illiquid assets - while also driving a shift towards more liquid strategies. This evolving landscape calls for flexible, tailored solutions rather than standardised products, developed in close collaboration with a trusted partner.

What defines successful fund strategies today?

Successful fund strategies today are driven less by short-term market movements and more by long-term positioning, clear specialization and alignment with macroeconomic trends. In our experience, success comes from combining a well-defined investment focus with consistent execution. At the same time, the increasing complexity of strategies - particularly in private markets - requires a partner who can turn investment ideas into robust, scalable and market-ready structures. In this context, VP Bank Asset Servicing, the international fund competence centre of the VP Bank Group, supports clients with structuring expertise across fund design, launch and regulatory coordination - enabling efficient, flexible and compliant implementation.

“Successful fund strategies are driven by structural trends, not short-term market moves

Where do you see the strongest investment developments and what drives success in implementation?

We are seeing strong demand for specialised fixed-income strategies such as structured bonds, insurance-linked securities (ILS), cat bonds and convertible bonds. At the same time, ETFs have become key building blocks for implementing investment strategies efficiently. However, identifying trends alone is not enough - successful implementation requires a clear target investor base, a well-defined distribution strategy and the ability to meet increasing reporting and transparency requirements. With its one-stop-shop approach, VP Fund Solutions offers modular, tailor-made services - from structuring and regulatory coordination to administration, depositary and distribution support - enabling clients to implement even complex and illiquid strategies with flexibility, efficiency and full regulatory certainty.