I am wrapping up some 75 in-depth discussions with regulators, distributors, institutional investors and asset managers globally on the changes in the global asset management distribution landscape in the last two years – the results will be published in a second volume of “Global Fund Distribution” this spring (www.globalfunddistribution.com).

In the meantime, let me start with a few key findings:

1. Performance… saying it doesn’t matter is a bit harsh, but it really doesn’t as long as it’s somewhat stable and transparent. Innovative marketing, portfolio transparency, very basic relationship management and operational aspects are much higher on professional fund buyers’ lists, especially post-crisis.

2. Product wizardy… some niche products are good to open doors, but ,globally, “cookie-cutter” products that are easily explained and at least basically understood have worked best with wealth managers concerned about clientsafety.  Institutions are surprisingly late to the thematic game and “quite sad in their timing” (also an opportunity for asset managers). It’s ok if your product sucks, as long as you have something else on the shelf that works.

3. Information and content delivery: Is viewed as a commodity and if it’s not best in class (and timely and detailed) is not even looked at. Analysts read your monthly report if you are JohnPaulson offering your annual projections otherwise you are a needle in a haystack.

4. Be innovative, don’t talk about yourself (imagine you are on a first date): Monthly reports used to be delivered as a pdf via email – analysts now like to see it in newer, shorter, formats – as a blog, vlog or tweet. While that poses compliance issues it can deliver added value, if you talk about something other than your product (the calls, factsheets, reports, roadshows, and seminars are enough). Less is more when it comes to yourself, but more is more if it comes to views on themes, other products and market trends. Lots to catch up on for many firms, since most of them still think twitter is the bird that is friends with Sylvester.

5. Lots of disasters, some exceptions: Many companies completely ruined their reputation during the crisis by disregarding basic relationship management principles… (again, the first or second date comes to mind) – they didn’t call, they minimized local teams and hibernated in their respective headquarters. Some others did a good job and are benefiting from it (Aberdeen, Schroders, Blackrock et al). Time to review dating 101, but it takes more than Godiva chocolate and flowers to get another chance when you didn’t call her back for two months after your first date.