White Paper
May 8, 2023

Enabling end-to-end-automation for Actively Managed Certificates

In investment management, the demand for specialized and customized strategies is growing. And by throwing digitalization into the mix, the landscape for investment products gets more and more diverse. Actively Managed Certificates (AMCs) are a fast, flexible, and cost-effective vehicle to provide access to dynamic investment strategies. 

New opportunity with Actively Managed Certificates

Due to their complex process, Actively Managed Certificates (AMCs) are prone to operational risks when managed manually. For meeting the demand of frequent rebalancings, smaller products and customized reporting including a perfect audit trail, Bank Julius Baer and vestr identified the need for automation. As a large financial institution,  Bank Julius Baer opted to work with vestr instead of building an in-house solution. vestr introduced digitalization and scalability into a maturing market of Actively Managed Certificates (AMCs) for the Bank.

During the lifecycle management of Actively Managed Certificates (AMCs), predominantly three parties are concerned: issuer, investor and portfolio manager. In the case of Actively Managed Certificates (AMCs), the buy-side collects money from their customer and invests it in dynamically adjusted portfolios, aka Actively Managed Certificates (AMCs), that are designed according to the customer’s preferences. The sell-side institutions, who issue these Actively Managed Certificates (AMCs), were historically large institutions. Now, with digital solutions available, even smaller banks and Special Purpose Vehicle (SPV) providers enter the space.

A successful proof of concept between Bank Julius Baer and vestr

In this white paper, Bank Julius Baer and vestr demonstrate the successful collaboration between a large financial institution and a Fintech startup. With the common goal of digitizing the active investment management industry, the partners went on this journey together. With an agile project approach, they pre-defined milestones for the solution blueprint and design, as well as the implementation concept. The technical integration was an iterative process between the technology and product teams at Bank Julius Baer and vestr, which led to unexpected insights. For instance, several tasks of the trading desks at the Bank were redefined or changed thanks to the introduction of automation into their workflow.  

In short, issuers of dynamically adjusted portfolios have the opportunity to go digital. The new workflow of managing Actively Managed Certificates (AMCs) fully digitally will enable issuers to remain compliant and offer more customizable solutions to their clients. At the same time, external asset managers will equally benefit from the standardized lifecycle management of Actively Managed Certificates (AMCs) to augment their active investment strategies. 

You may download the white paper here.

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We are looking forward to digitizing the active investment management industry with you!

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