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Commenting on the annual report, Denise Voss, Chairman of ALFI, said: “The last twelve months will be remembered as a ‘Year of Milestones’. In September 2017, Luxembourg investment funds reached a record EUR 4 trillion of assets under management, consolidating Luxembourg’s position as the leading European fund centre. This growth is a testament to our continued efforts to serve investors and the economy.”
Denise Voss continued: “The evolution and application of technology, the continuing development of ESG investment, the focus on diversity, regulatory innovation and Brexit have created a series of opportunities and challenges for our members. In this context, ALFI and has contributed to the development of the Luxembourg fund industry with a number of key initiatives. The future of asset management in Luxembourg depends on our ability to adapt to a rapidly changing environment.”
ALFI has continued to promote and support the interests of the Luxembourg asset management community at a national and European level. In total, 1700 representatives of ALFI members have contributed their expertise to the associations’ 168 working groups. As part of this, 16 position papers and responses to consultations have been drafted and sent to policymakers at national and international level. Public advocacy, in particular on the review of the ESAs, has been high on the agenda. 19 different guidelines, brochures and Q&As have furthermore been published to inform about the advantages and expertise of the Luxembourg fund industry and provide practical guidance around existing and or upcoming laws and regulations.
2017 has been an important year for sustainable finance in the European Union. It is a key theme of the European Capital Markets Union and the Commission published an Action Plan and first regulatory proposals to foster the development of sustainable finance. ALFI has welcomed this, recognising that asset managers play an important role in channelling capital towards sustainable projects.
Change in the fund industry also comes via new technological developments. The ALFI Digital/FinTech Forum has been active in the domain of FinTech and RegTech solutions for Transfer Agent & Distribution activities, including AML.
2018 will be another significant year, marking ALFI’s 30th anniversary, and the association will continue to advance the interests of asset managers and industry stakeholders, cross border distribution of investment funds and investors. These activities will continue to be led by Denise Voss, who will remain Chairman until next year’s AGM, which is planned for June 2019.