|
|
The Association of the Luxembourg Fund Industry (ALFI) represents the face and voice of the
Luxembourg asset management and investment fund community. The Association is committed to the
development of the Luxembourg fund industry by striving to create new business opportunities, and
through the exchange of information and knowledge. Created in 1988, the Association today represents over 1,500 Luxembourg domiciled investment funds, asset management companies and a wide range of business that serve the sector. These include depositary banks, fund administrators, transfer agents, distributors, legal firms, consultants, tax advisory firms, auditors and accountants, specialised IT and communication companies.
Luxembourg is the largest fund domicile in Europe and a worldwide leader in cross-border distribution
of funds. Luxembourg domiciled investment funds are distributed in more than 70 countries around
the world. ALFI’s strongly held view is that financial education serves as the foundation for life-long financial well-being, entrepreneurship, retirement, social mobility and inclusive growth. At the same time,
financial literacy can empower new generations of investors to take full advantage of an increasingly
digitalised financial landscape.
ALFI declared its commitment to work alongside stakeholders in Luxembourg to enable citizens to better understand and manage personal finances, in a context of rapid technological, economic and societal change since 2004, when it created a working group focusing on financial education initiatives. For several years the group mainly put its efforts on the production of comprehensive content accessible to retail investors.
A website (www.understandinginvesting.org) has been set up containing both educational texts and animated videos, introducing the basics of finance. Since then, the mission and scope of the group evolved to include:
We thank the European Commission for the opportunity to participate in this consultation on a retail
investment strategy for Europe.