Ten years after having established its very active Representative Office in Hong Kong, the Association of the Luxembourg Fund Industry (ALFI) has now extended its presence in South East Asia by launching a new working group which will promote increased collaboration and closer relationships between the fund management industries in Luxembourg and Singapore.
The working group, based in Singapore, will focus its efforts on South East Asia where the Luxembourg fund industry is already well established. According to a survey on global fund distribution, 69% of all foreign funds sold in Singapore are domiciled in Luxembourg.
The working group aims to improve the Luxembourg fund industry professionals’ understanding of the investment fund market in Singapore and South East Asia, its laws and regulations, local investment culture and management techniques, as well as distribution challenges and opportunities. In addition, the group will explore ways to further develop the Luxembourg investment fund centre as a hub of excellence for professional services for Asian-based investment funds and their sponsors.
Mrs. Ching Yng Choi, Head of ALFI’s Asia Representative Office in Hong Kong, commented: “The working group will also be instrumental in proposing and preparing promotional activities and trade missions in the region, and will be setting up a knowledge base to share insight with local industry players. This launch is further testament to the commitment ALFI has towards Asia, and follows the opening of our Hong Kong office in 2010.”
The ALFI Singapore Working Group is chaired by Mrs. Valérie Mantot, Head of MENA and South East Asia at Sanne Group, and Mrs. Ching Yng Choi, Head of ALFI’s Asia Representative Office in Hong Kong.
With Asia remaining one of the key focuses in 2017, ALFI has planned a series of initiatives in the region following a successful roadshow in Hong Kong, Taipei and Tokyo in January. The Association will bring a delegation, led by H.E. Pierre Gramegna, Luxembourg’s Minister of Finance, to Asia and Australia in March to further strengthen the relationship and facilitate knowledge sharing between this region and Luxembourg. The programme of this roadshow will include seminars in Singapore on 10 March and in Sydney and Melbourne on 13 and 14 March, respectively.