With 180, 275 and 475 registrations respectively, the financial seminars organised last week by the Association of the Luxembourg Fund Industry (ALFI) in Taipei, Tokyo and Hong Kong attracted a record interest among the local fund industry professionals.
With its regular roadshows, ALFI aims to further strengthen the leading position of Luxembourg domiciled investment funds on the main Asian markets and to increase the number of Asian fund promoters using Luxembourg as their hub for distributing their products across Europe.
At ALFI’s seminars, experts drawn from a variety of professions in the Luxembourg financial center highlighted Luxembourg’s position as Europe’s leading domicile for UCITS funds and explained how new regulations like UCITS V, UCITS VI, PRIPS, MIFID or EMIR might affect the international asset management industry and cross-border UCITS distribution.
Marc Saluzzi, Chairman of ALFI, said: “We have had close links with the stakeholders of the respective fund industries in the Asian region for many years. It’s clear that there’s huge interest in Asia in what we have to offer in Luxembourg and how we can enable Asian fund managers access markets globally by using the UCITS and AIFM regulation.”
The seminars also addressed the practical solutions offered by the Luxembourg fund industry for structuring Luxembourg based alternative investment fund products. A recent survey conducted by Oliver Wyman has actually shown that the introduction of the AIFMD will fuel strong growth in fund domiciles that offer “one-stop-shop” solutions like Luxembourg. As a leading international domicile for alternative asset classes, Luxembourg is very well positioned to attract new alternative fund promoters.
At its Hong Kong seminar, ALFI placed a special focus on the Shanghai – Hong Kong Stock Connect program that enables foreign investors to trade Shanghai-listed shares via the Hong Kong stock exchange, and mainland investors to invest in Hong Kong shares via the Shanghai stock exchange. A number of Luxembourg UCITS have already seen the opportunity that this represents and sent their applications to the supervisory authority. The first one was approved at the beginning of December 2014.
The possibility of launching Renminbi Qualified Foreign Institutional Investor (RQFII) funds under the UCITS scheme met with great interest among the audience. Given that Luxembourg UCITS are a well-known investment scheme distributed in around 70 countries, Luxembourg is the ideal hub for initiators to launch RMB denominated investment funds and to distribute them globally in order to support the internationalisation of the RMB.
Download the press release here.