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1、F U T U R E O F C A P I T A L M A R K E T S I N I T I A T I V EBroadening Access to Private MarketsContentsA paper in collaboration with Accenture,Lazard,Apollo,AXA,Motive Partners,BMO Financial Group,Carta and Moonfare.Other contributing organizations include Broadridge,BNY Mellon,Deutsche Bank,Edw
2、ard Jones,Grayscale,JP Morgan,Julius Baer,Lord Abbett,New York Stock Exchange,Partners Group and Robinhood.ForewordIntroductionMethodology and definitionsExecutive summary1.The opportunity of private markets for retail investors 2.Risks and barriers to broadening access3.Considerations to broaden ac
3、cess to private markets4.Calls to actionAppendicesContributorsEndnotes 2023 World Economic Forum.All rights reserved.No part of this publication may be reproduced or transmitted in any form or by any means,including photocopying and recording,or by any information storage and retrieval system.030405
4、09152127394450522Future of Capital Markets:Broadening Access to Private MarketsForewordMeagan Andrews Lead,Capital Markets Initiatives,World Economic ForumMatthew Danzig Managing Director,Technology Investment Banking,LazardJen Yun Managing Director,North America Capital Markets Lead,Accenture Strat
5、egyFuture of Capital Markets Initiative Broadening Access to Private MarketsThe World Economic Forums 2022 report,The Democratization of Retail Investing,found that retail investors are participating in global capital markets in greater numbers and through new channels.We also noted a growing intere
6、st in private markets by retail investors.Drivers of increased interest in private markets included the resilience of private asset classes,potential diversification benefits or historical outperformance versus public market equivalents.Fast forward to 2023,some fintechs and other platforms have beg