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Understanding Investing 简体中文网页 Members section

- Press releases

The annual ALFI & ALRiM European Risk Management Conference, which took place on 26 May 2016, highlighted the fact that risk management is a key component of the governance framework for asset managers. It also emphasised the fact that Luxembourg remains a centre of excellence in risk management.

Speaking to more than 250 participants, Denise Voss (Chairman, the Association of the Luxembourg Fund Industry - ALFI) and Marco Zwick (President, ALRiM) opened the conference by highlighting the strong evolution and the growing importance of risk management in the investment fund industry. They also reinforced the important role of risk managers in this rapidly evolving environment.

Following their introduction, Pierre Gramegna, Minister of Finance, delivered the opening speech on geopolitical risks, referencing current events such as the EU referendum in the UK, the Greek bailout, and recent debates surrounding the Schengen Treaty. He concluded that the current risks the European Union is facing needs to be tackled by a strong union of member states.

The opening speech of H.E. Gramegna was complemented by a keynote speech from the Chief Economist of GAM, Lawrence Hatheway, who placed geopolitical risks in the context of actual market data using historical Chinese and US real and nominal GDP growth figures, US household income data, and exchange rate barometers focusing on Sterling.

During the conference, a number other of topical issues were addressed by experts, including:

  • Liquidity risks in asset management
  • Global footprint - distribution risk management
  • Implementing a risk framework for a PE funds
  • Cyber threat for funds
  • Funds' risk profile - from key considerations to a practitioner's guide

The expert speakers from across the world addressing these issues included Sacha Reverdiau from Nomura, Michael Derwael from LODH, Joanna Cound from Blackrock London, David Martin from Pictet Geneva, Patrik Karlsson from ICMA London, and Damian Handzy from Investor Analytics from New York.

The conference concluded with a much anticipated panel on risk management developments with representatives from the Luxembourg Regulator, tackling issues on new reporting requirements and focusing on UCITS RM reporting.

 
Check out the photos of the conference!

ALFI European Risk Management Conference 2016

Updated on 03/06/16
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- Webinars

Fintech is more than a buzz word. It is a game changer in the operating model of asset managers, distribution intermediaries, and service providers. The ALFI report published by Deloitte Luxembourg titled 'How can Fintech Facilitate Fund Distribution' highlights how technology can reshape the financial sector on a global scale. With a flourish of new players attracting significant attention from markets, customers and investors…the Fintech revolution is growing fast!

 

Thursday, May 26th 2016, 5:00 pm - 6:00 pm CET

Click here to register for the webinar.

Join the Association of the Luxembourg Fund Industry and NICSA as they share their perspectives on the growth and driving forces of the global Fintech industry.

Moderator:
Brian M. Melter, Managing Director, E-Business Solutions Division, Boston Financial Data Services
Panelists:

Mary Jane Ajodah, Senior Associate, Client Service Delivery, BNY Mellon
Robert Palatnick, Managing Director, Chief Technology Architect, Depository Trust & Clearing Corporation, (DTCC)
Simon Ramos, Partner, Advisory & Consulting Investment Management, Deloitte Luxembourg

Updated on 23/05/16
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- Press releases

Speaking today at the London conference of the Association of the Luxembourg Fund Industry, Denise Voss, Chairman of ALFI, said: “The asset management industry plays a key role in economic growth, enabling people to save for their long-term financial security, stimulating innovation and ensuring sufficient investments in infrastructure.”

ALFI’s London conference today was attended by a record 1200 people from the fund and asset management industry.  It is part of ALFI’s annual programme of conferences and seminars held globally in all the major financial centres. Over the past year ALFI has held 28 conferences in 12 cities, and representatives of ALFI have participated at an additional 40 conferences.

Denise Voss, Chairman of ALFI, explained: “London has always been a key market for ALFI and our annual conference here is now the largest we run, a reflection of the size and importance of the relationship between the financial centres of London and Luxembourg.”

She continued: “Now that much of the post-crisis regulation has already or is in the process of being implemented, we are able to focus on how the fund industry can adapt to a completely different environment of new technologies, changing demographics, new distribution methods, as well as focusing on the social and economic benefit that funds drive by creating economic growth.”

The conference featured lively and interesting debates on sustainability, consumer trends, demographics and technology in the context of the asset management industry’s role in financing the economy. The Reserved Alternative Investment Fund (RAIF), an upcoming new regime for Luxembourg alternative investment funds, attracted particular attention, as it will allow for reduced time-to-market for authorised alternative fund managers. Indeed, taking into account that this fund vehicle must be managed by authorised alternative investment fund managers and is only accessible for well-informed investors, the RAIF does not need to be specifically approved by the Luxembourg regulator. Supervision will be done via the manager who will have to report on the fund on a regular basis.

Similarly, the increasingly important role played by debt funds was highlighted on the one hand in addressing the imbalance in liquidity supply and on the other hand in helping businesses raise capital to stimulate economic growth. Denise Voss confirmed: “Regulators and policy makers in Europe are becoming aware of the benefits of non-bank intermediation and especially debt funds as they provide an alternative to the banking industry in proposing to the real economy a different source of financing with little maturity transformation and limited leverage. For more than two decades now, Luxembourg has offered an unparalleled breadth of solutions for debt funds including debt origination and direct lending funds. As a result, over 70% of the top 30 debt fund managers worldwide are active in Luxembourg.”

Download the photos of the conference here (©ALFI 2016).

Download the press release in English.

Updated on 04/05/16
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- Press releases

Jacques Elvinger, Partner at Elvinger Hoss Prussen, explains what is the purpose of the "RAIF".

"RAIF" stands for ‘Reserved Alternative Investment Fund’, a new type of Luxembourg investment fund that is currently on its way through the official channels and expected to be in place in coming mounths. A RAIF is a Luxembourg domiciled alternative investment fund managed by an authorised alternative investment fund manager (AIFM) based either in Luxembourg or in another EU member state, which allows the RAIF to be marketed to professional investors in the European Union. The RAIF itself will not be subject to authorisation and supervision by the Luxembourg supervisory authority CSSF, which shortens time to market. The RAIF will be the vehicle of choice for managers and investors looking for an investment vehicle that combines contractual flexibility with an efficient set-up from a time to market perspective in the context of the regulated AIFMD framework while benefiting from the European Passport for marketing to professional investors.

More information can be found here.

 

Updated on 17/06/16
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- ALFI statements

ALFI has responded to the European Commission public consultation on long-term and sustainable investment.

See the full response here.

Updated on 01/04/16
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Simon Ramos, Partner, Advisory & Consulting Investment Management, Deloitte Luxembourg speaks about the key findings of the latest FinTech study.

The key findings are first of all that the investments globally in FinTech have evolved since 2009. We are now at 12.2 billion investments in FinTech. We have also found that there are four macro trends that will impact the fund distribution value chain: big data, the new investors’ behaviours, regulation and a technological innovations. We have also learned during the study that there are real opportunities for Luxembourg asset servicers and management companies to enter into the FinTech opportunities by offering white labelling services for the asset managers for offering robo-advisory technologies or online platforms, but also to create industry initiatives like for example order management improvements and other automations that we create for further efficiencies in the value chain.

Find the full survey here.

- Press releases

Simon Ramos,  Partner, Advisory & Consulting Investment Management, Deloitte Luxembourg speaks about the key findings of the latest FinTech study.

The key findings are first of all that the investments globally in FinTech have evolved since 2009. We are now at 12.2 billion investments in FinTech. We have also found that there are four macro trends that will impact the fund distribution value chain: big data, the new investors’ behaviours, regulation and a technological innovations.
We have also learned during the study that there are real opportunities for Luxembourg asset servicers and management companies to enter into the FinTech opportunities by offering white labelling services for the asset managers for offering robo-advisory technologies or online platforms, but also to create industry initiatives like for example order management improvements and other automations that we create for further efficiencies in the value chain.         

Find the full survey here.

Updated on 30/03/16
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- ALFI statements

On 18 March 2016, ALFI responded to the European Commission's Green Paper on Retail Financial Services, which was recently published.

Updated on 18/03/16
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- Press releases

ALFI today released figures outlining the footprint of Luxembourg domiciled UCITS, showing the volume of assets under management in various markets globally as at December 2015, giving a breakdown in those markets of the percentage of Luxembourg UCITS, other foreign and domestic open-ended funds.

According to the figures:

  • 50% of the AuM in open ended funds distributed in Germany, 51% of those in Italy and 51% of those in the Netherlands are in Luxembourg UCITS;
  • Luxembourg UCITS make up 47% of the AuM in foreign open-ended funds distributed in Taiwan, Korean, Japan, Hong Kong, and Singapore;
  • Eight out of the ten largest global open-ended asset managers have a presence in Luxembourg;
  • In 2015 Luxembourg UCITS attracted 72% of the flows within the major markets.

Denise Voss, Chairman of ALFI, said: “ALFI works hard to promote the Luxembourg UCITS brand globally and these figures show that this work has paid off. There is clear confidence in the UCITS brand globally based on Luxembourg’s governance, approval, risk management and oversight processes, and clear regulatory and taxation framework.”

Laurent Denayer, EY partner, Global Fund Distribution leader, said: "In the last three years Luxembourg increased its UCITS’ footprint in most European markets, reaching a total of 62% of the total AuM distributed. Moreover, Luxembourg funds collected more new money than all the other individual markets in Europe.”

Download the document here.

Updated on 10/03/16
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