As an Asset Manager, It's a Whole New World Navigating the Investment Industry has become Increasingly Complex

Bringing New Products to Market

Evolving regulations and consumer demands are driving new product growth and leading asset managers to consider new asset classes and product structures.

ETF Market Opportunity

A recent report from DST Research, Analytics, and Consulting indicated that the ETF market grew briskly in 2015, with assets climbing to $2.1 trillion on $245 billion in positive net flows. In addition, 26 new ETF sponsors attracted assets for the period, bringing the total number of sponsors to 89 at year end. Firms that can quickly launch new products and gain traction within distribution channels have an advantage to gaining market share.

We help asset managers efficiently manage the complexity of launching new products, while working alongside your legal and business partners to ensure all critical factors are appropriately taken into consideration.

When determining the right product structure, there are several key decision factors: constraints, synergies, and operations. Constraints and synergies are unique to each firm; asking key strategic questions in the early stages on these factors is critical.


  • Existing Competition
  • Liquidity Requirements
  • Tax Implications


  • Brand Recognition
  • Customer Diversification
  • Product Scale

Operationally, each product type has attributes that may align better with your firm’s unique strategy and distribution requirements. The following are a few key attributes to consider for the most common product structures.

Operational Considerations Open-End
Offer Funds
ETFs Private
Registration '40 '40/'33 '40 Yes Yes
Accredited investor requirements No No No Yes Yes
Daily subscriptions Yes Yes Yes No No
Daily redemptions Yes No Yes No Yes
Supported on broker-dealer platforms Yes Yes Yes No No
Traditional tax reporting & withholding Yes Yes Yes K-1 K-1

ALPS and DST provide a complete suite of advisor, fund, and investor solutions that enables you to more efficiently and confidently compete in complex global financial markets.

Why ALPS and DST?

  • Meet security demands via institutional quality control environment and infrastructure.
  • Increase market share with distribution tools and deep industry connections.
  • Gain perspective from expertise spanning a broad range of investment products.
  • Support all types of investors with scalable operations and technologies.

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