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    Newsflash october 4, 2013    
          in this edition      
    1. Headlines
2. New podcasts
3. Publications
4. Past events
5. Upcoming ALFI events
6. Other upcoming events
     
 
 

1.

Headlines

ALFI calls for asset managers to broaden their appeal to all savers in society

ALFI calls for asset managers to broaden their appeal to all savers in society

A report entitled “Beyond 10%: the case for enlarging the pool of retail investors in Europe’s investment funds,” commissioned by ALFI and prepared by research company MackayWilliams highlights the fact that there is a €4 trillion pool of household assets in Europe that are not managed professionally and which is therefore either losing value or failing to grasp growth opportunities that are available through long-term investment vehicles. To capture these unmanaged assets, fund groups need to look beyond the wealthiest 10% of potential clients, the report concludes.

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Download the report

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ALFI comments on ESMA’s discussion paper on the clearing obligation under EMIR

ALFI welcomes the European Securities and Markets Authority’s general approach to defining regulatory technical standards on contracts, but makes a series of technical comments.

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ESMA released long-awaited AIFMD Guidelines on reporting obligations

ESMA has also published an Opinion that proposes introducing additional periodic reporting including such information as Value-at-Risk of AIFs or the number of transactions carried out using high frequency algorithmic trading techniques. This release also includes some technical supporting material (a consolidated reporting template, detailed IT guidance for filing of the XML and the XSD schema) that are supposed to facilitate the reporting by AIFMs to regulators.

The Guidelines will now be translated into the official languages of the EU. National competent authorities will then have two months from the date of the publication of the translations on ESMA’s website to confirm to ESMA whether they comply or intend to comply with the Guidelines by incorporating them into their supervisory practices.

Documents

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FATCA: IRS publishes corrections to final regulations and FAQs

On 10 September 2013, the US Internal Revenue Service (IRS) issued a set of corrections to its final regulations under the US Foreign Account Tax Compliance Act (FATCA). Click here to read document “TD 9610”.

Moreover, having recently unveiled its online registration portal, the IRS published two sets of Frequently Asked Questions (FAQs):

FATCA - FAQs General

FATCA - Registration System FAQs

Background information:
ALFI newsflash of 5 February and 4 September 2013

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IOSCO confirmed as the Key Global Reference Point for Securities Regulation

At the organisation’s Annual Conference held in Luxembourg from 15 to 19 September 2013, the members of the International Organization of Securities Commissions (IOSCO) discussed how to advance work on global regulatory reform and on the identification of emerging risks in securities markets. They namely want IOSCO to play an increasingly active role in promoting the finance of long-term investment through capital markets – in areas as diverse as corporate bond markets, securitization, SME finance and Islamic Finance. They further agreed to begin work on crowd funding.

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The event was attended by more than 700 participants,  half of which were IOSCO members with 212 representatives from 97 ordinary member institutions. The event was supported by 26 sponsors, 20 of which were present with an exhibition booth. 25 speakers from 14 countries shared and exchanged their views during the public panel sessions. Click here for LFF’s interview with Mr. Jean Guill, Director General of the CSSF who was hosting the conference.

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New LFF website to promote Luxembourg as a centre for international RMB business

Luxembourg for Finance (LFF) has launched a new website aiming at strengthening Luxembourg’s position as the most important RMB centre within the Euro area. According to LFF, Luxembourg currently ranks first amongst the centres handling RMB business in Europe, with RMB 62bn in loans granted by banks in Luxembourg, roughly RMB 40bn in deposits and almost RMB 220bn invested in funds domiciled in the Grand Duchy.

 

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2.

New podcasts

What is in store for the main financial centres in the next year?

At the occasion of its Global Distribution Conference, ALFI produced three new podcasts in which Peng Wah Choy, CEO of Harvest Global Investments Limited, Hong Kong, Lieven Debruyne, Chairman of the Hong Kong Investment Funds Association (HKIFA), Hong Kong, and José Carlos Doherty, Chief Executive Officer at the Brazilian Financial and Capital Markets Association, São Paulo, shared their views on recent trends in the investment fund industry.

Get direct access to their statements:

 

Peng Wah Choy, CEO, Harvest Global Investments Limited, Hong Kong

Lieven Debruyne, Chairman, Hong Kong Investment Funds Association (HKIFA),
Hong Kong

José Carlos Doherty, Chief Executive Officer, Brazilian Financial and Capital Markets Association, São Paulo

 

 

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3.

Publications

ALFI issues general brochure about the Luxembourg fund centre in French and German

ALFI’s brochure presenting the Luxembourg investment fund centre is now also available in French and German. Both brochures can be downloaded from ALFI’s website.

Hard copies may be ordered at the ALFI secretariat via info@alfi.lu.

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4.

Past events

11 September 2013: ALFI Golf Tournament

On the occasion of the ALFI Global Distribution Conference, ALFI welcomed 96 players and 24 beginners to Kikuoka Country Club for its traditional golf tournament. Thanks to the support of the sponsors and participants, the profits of the day were donated Prolepsis in Greece that deals with intensifying food shortage problems that students of many Greek schools experience.

Photos of the day: click here

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12-13 September 2013: Global Distribution conference

The ALFI Global Distribution Conference on September 12-13 in Kirchberg, Luxembourg, was attended by around 650 delegates. View the video on ALFI's Youtube channel ALFILuxembourg!

This edition was supported by 59 exhibitors and sponsors. The conference was also promoted by 12 media partners.

Numerous Twitter followers contributed on the @ALFIfunds Twitter account. More than 80 tweets mentioned conference's hashtag #ALFIGlobal13. Thank you all for following us and sharing your insights!

We also published several discussions in our LinkedIn group - we hope you found them interesting!

The participants had an opportunity to win 15 mini iPads thanks to an Exhibitors game. Congratulations to the winners!

View the photos from the conference by clicking on the picture below:

 

 

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30 September - 1 October: ALFI Roadshow to Switzerland

About 500 people signed up for ALFI’s 7th roadshow to Switzerland that included a delegation of 80 fund professionals from Luxembourg. This year’s programme included special roundtables on Responsible Investing as well as general sessions on UCITS and the AIFMD and workshops on Real Estate, Private Equity and Hedge Funds.

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5.

Upcoming ALFI events

23 October: ALFI Leading Edge Conference in London on AIFMD Implementation

Programme & Registration click here

Participation is free of charge

Already 330 registered !

Sponsorship opportunity to ALFI members - contact events@alfi.lu

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4-6 November: ALFI Roadshow to US (Boston & New York)

Monday 4th November – seminar in Boston at the Boston Harbor Hotel

Tuesday 5th November – cocktail reception in New York at the Essex House (JW Marriott)

Wednesday 6th November – seminar in New York at the Essex House (JW Marriott)

Programmes and Registration: click here

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12 November 2013: ALFI Roadshow to Frankfurt

Programme & Registration click here.

Already 190 registered !

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14 November: ALFI TA & Distribution Forum

Venue: Luxembourg Chamber of Commerce, Kirchberg.

The key theme of this 7th edition is: Still swimming in a sea of regulatory and industry developments...

ALFI's TA Forum Steering Committee has issued an overview of the conference programme, the full programme & the registration form will be available in mid-October.

Participation for ALFI members is free of charge.

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19-20 November: ALFI European Alternative Investment Funds Conference

Early bird booking deadline: 11 October !

Programme online and registration : Click here.

Exhibition opportunities available!  Click here.

35 exhibitors confirmed!

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3-5 December: ALFI Roadshow to Asia (Tokyo, Kuala Lumpur, Taipei, Singapore, Beijing, Hong Kong)

Programmes and registration (coming soon).

Sponsorship opportunity open to ALFI members, contact events@alfi.lu

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6.

Other upcoming events

21-27 October, Economic mission to Colombia and Peru

The Chamber of Commerce of the Grand Duchy of Luxembourg will organize a multi-sectoral economic mission to Colombia and Peru from the 21st to the 27th of October 2013. The objective of this trade mission is to promote and strengthen the commercial and economic ties between Colombia and Peru on one hand and Luxembourg on the other.

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November 5-6, EFAMA Investment Management Forum 2013

The European Fund and Asset Management Association (EFAMA) has issued the preliminary programme of its 2013 Investment Management Forum that will be held at the Square Meeting Centre in Brussels on November 5 and 6.

This year’s conference is entitled “Investment Management Industry: Providing Long-Term Value to Investors”.

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IFBL: full range of ALFI / IFBL fund industry courses

The IFBL is be offering its full range of ALFI / IFBL fund industry courses for which full details can be found on their website (www.ifbl.lu). In particular, the IFBL would like to draw your attention to the following important upcoming items:  

  • “Understanding AIFMD” – will be running on the 24th October and targets staff who require deeper immersion in the directive.
  • Real Estate & Private Equity – Full certifying programmes for both disciplines are now in progress for which it is still possible to subscribe the remaining advanced modules.
  • Roles and Responsibilities of Fund Directors – this director level seminar, organised in cooperation with ALFI and ILA will take place on the 28th and 29th November. This popular seminar provides participants with an understanding of corporate governance within funds and the legal, regulatory and financial responsibilities of directors.
  • Risk Management for Fund Directors and Conducting officers – this module provides fund directors, conducting officers and their staff with a solid understanding of the principles, methods and tools of risk management and governance and how they apply to UCITS funds and alternative investment funds. A fresh date for in Early December will be confirmed shortly.

Additional information is available on the IFBL website or from the IFBL Customer Service team either by phone on 46 50 16-1 or by e-mail at customer@ifbl.lu.

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