This section includes press releases issued by ALFI.
Discussions at ALFI’s Global Distribution Conference on 18 and 19 September will be posted live at www.alfievents.com. Follow also the conference on ALFI’s new Twitter account @ALFIfunds using the hashtag: #ALFIglobal12.
On 24 August 2012, the Luxembourg Finance Ministry submitted the draft Bill transposing the European Alternative Investment Fund Managers Directive (the “AIFMD” or the “Directive”) to the Luxembourg Parliament. ALFI strongly believes that the AIFMD presents a welcome opportunity for Europe to create a brand in the alternative investment market, similar to the global brand it has created with UCITS. Through AIFMD, the European Union is creating the first regulated environment for alternative investment funds worldwide.
On 3 July 2012, the European Commission published a ‘Proposal for a Directive of the European Parliament and of the Council amending Directive 2009/65/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards depositary functions, remuneration policies and sanctions, better known as ‘UCITS V’. The main object of the draft directive is to clarify and to harmonise the level of investor protection in the EU through the alignment of tasks and responsibilities that are expected from the depositaries of UCITS.
The Annual General Meeting of the Luxembourg Fund Labelling Agency (LuxFLAG) was held on 29th June 2012, following which LuxFLAG announced the election of the new Chairman and Board of Directors.
The Association of the Luxembourg Funds Industry (ALFI) today announced that the assets under management by Luxembourg-domiciled funds have reached a historic level at the end of April 2012, at EUR 2 225 billion under management. Luxembourg remains the largest European fund centre, followed by France and Germany.
ALFI London conference on 23 May 2012 focused on aims to foster the development of the alternative investment fund industry, improvements in UCITS and building responsible investing as third pillar for the investment fund area.
ALFI sheds light on the status of responsible investing in Europe at its first “Responsible Investing Conference”- Press releases
On 10 May 2012, the Association of the Luxembourg Fund Industry (ALFI), in association with LuxFLAG, organised its first “Responsible Investing Conference” in the presence of HHRRHH the Grand Duke and the Grand Duchess of Luxembourg. Numerous renowned panelists participated in the event to highlight the opportunities that responsible investments offer. During the conference, a study by KPMG and commissioned by ALFI was presented, which draws a picture of the current state of the industry.
Access Africa Fund LLC, a Delaware company formed by CARE USA, have been granted the LuxFLAG Microfinance Label. This first non-Luxembourg domiciled Microfinance Investment Vehicle is managed by MicroVest Capital Management and invests in microfinance projects in sub-Saharan Africa. This confirms the continuing interest in the LuxFLAG Microfinance Label on the international level and reinforces its importance in terms of providing greater transparency to investors.
24 MIVs have been granted the LuxFLAG Microfinance Label as of April 2012, representing approximately USD 3.48 billion in Assets Under Management.
At its Spring Conference 2012, ALFI set out its response to key regulatory changes that will impact the fund management industry. Marc Saluzzi, chairman of ALFI, acknowledged the need for better regulation in the wake of the financial crisis, but also warned that excessive and poorly targeted and executed regulation would harm the funds industry and its customers.
Discussions at ALFI’s Spring Conference on 13th & 14th March 2012 in Kirchberg, Luxembourg will be posted live at http://www.alfievents.com/. The blog will focus on key points and highlights from the conference’s presentations and panel debates to discussions.