Practical Insights for Asset Managers: A Morning of Dialogue
On September 23, we gathered a dynamic group of asset management professionals at The Stafford Hotel in London for an interactive breakfast discussion hosted by Shadmoor Advisors and Optima Partners. The session brought together perspectives from across the investment ecosystem — from institutional allocators to compliance and regulatory experts — for a candid conversation about the evolving landscape managers face today.
Our speakers, Jean-François (“J-F”) Mauvis, Director UK/Europe at Shadmoor Advisors, and Greg Worsfold, Partner at Optima Partners, led an engaging and pragmatic discussion focused on the operational, regulatory, and investor expectations shaping the industry.
A Morning of Dialogue and Interaction
Here’s a brief summary of the topics we covered this morning — we didn’t get to the Market Abuse Risks and Meetings with Government Officials topics, as we had quite a few questions and interactions with our guests (which was great!).
Jean-François (“J-F”) Mauvis of Shadmoor Advisors and Greg Worsfold of Optima Partners lead a lively discussion with guests during the “Practical Insights for Asset Managers” breakfast event at The Stafford Hotel, London.
Gifts & Entertainment – thresholds, gray areas, reputational risks
We spoke about how pre-approval thresholds are gradually increasing in the UK and Europe, the regional differences between the US and Europe, and where the real risk lies — understanding what constitutes an inducement. Reputational risk continues to be a key consideration, often more material than the financial value of the gift or entertainment itself.
Valuation Practices – PE and hard-to-value assets under scrutiny
Discussion centered on the growing regulatory focus on valuation practices as more retail capital flows into private markets. J-F and Greg emphasized the importance of taking a risk-based approach between open-end and closed-end funds, the heightened risks associated with Level 3 assets in evergreen vehicles, and maintaining independence in valuation processes. Regional variations in market practice were also explored, underscoring the importance of consistency and transparency.
Fees & Expenses – acceptable practices across UK & US markets
This topic generated active discussion, particularly around chargeable expenses and the importance of reconciling them against fund offering documents. Attendees also examined the fair allocation of broken deal costs across participating vehicles — including co-investment and flagship funds — and the need for clear governance around these decisions.
Cyber & Information Security – meeting LP expectations
With the rise in “Dear CEO” and spear-phishing attacks, cyber and information security are firmly in the spotlight. We discussed what institutional investors now expect from managers, the evolving regulatory landscape, and best practices to demonstrate preparedness and resilience in the face of growing threats.
Artificial Intelligence – realistic applications and compliance considerations
The session closed with a timely discussion on the evolution of policies and governance frameworks surrounding AI. The conversation focused on practical applications within asset management, oversight responsibilities, and the compliance risks associated with open-source platforms.
A Dynamic Discussion
Although we didn’t get to Market Abuse Risks and Meetings with Government Officials, the high level of interaction and thoughtful questions from attendees made for an engaging and valuable session — reinforcing the importance of open dialogue between allocators, compliance professionals, and fund managers.
Acknowledgments
A sincere thank you to Hap Oakley and Greg Worsfold from Optima Partners for their insights and partnership in leading this discussion, and to all our guests for contributing to such a dynamic exchange of ideas.
Looking Ahead
At Shadmoor Advisors, we remain committed to helping asset managers navigate an increasingly complex environment with confidence and clarity. Through our ongoing event series, we aim to foster conversations that bridge regulatory expectations, investor perspectives, and operational realities — turning complexity into practical insight.