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Understanding Investing 简体中文网页 Members section

- 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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- Press releases

“The asset management industry has a once-in-a-generation opportunity to re-imagine and modernise its distribution model to address market and operational challenges – for future and current investors,” says Denise Voss, Chairman of ALFI.

“The asset management industry has a once-in-a-generation opportunity to re-imagine and modernise its distribution model to address market and operational challenges – for future and current investors,” says Denise Voss, Chairman of ALFI.

According to a new paper published today by the Association of the Luxembourg Fund Industry (ALFI) and Deloitte, “How can FinTech facilitate Fund Distribution”, the surge in FinTech is starting to reshape the financial sector on a global scale with a flourish of new players attracting significant attention from markets, customers and investors. ALFI believes that Luxembourg asset servicing firms have a major opportunity to help asset managers and distribution intermediaries to succeed in the change. 

Denise Voss, Chairman of ALFI, says: “FinTech is more than a buzzword. It will have a fundamental impact on the operating model of asset managers, distribution intermediaries and service providers, who are also facing new investor behaviours. The investment management ecosystem has not only to increase efficiency, but also to provide a better customer experience if it is to succeed in the future. In order to help asset managers and service providers to adapt their respective business models, ALFI has established its Digital/FinTech Forum whose aim is to highlight the challenges and opportunities inherent in new digital technologies.” 

Simon Ramos, Partner of Deloitte Luxembourg, says: “FinTech will be a game-changer in investment management operating models. Luxembourg’s strongly connected industry players are well-positioned to ensure that Luxembourg is in the driving seat for innovation.”

The paper outlines the growth and driving forces of FinTech:

  • Worldwide investment in FinTech is growing exponentially, with investment into companies in the sector tripling to USD12 billion from 2013 to 2014;
  • Luxembourg has seen a flourish of start-ups, with over 150 FinTech companies based in Luxembourg providing IT infrastructure or IT services as well as software or technology-based business services;
  • New technologies have emerged: Blockchain, artificial intelligence, machine learning, digital investment platforms, peer-to-peer “P2P” lending;
  • The new generation of investors wants more proximity with asset managers, a better ability to compare their investments with peer groups, to invest in a social responsible way and it will seek to use online investment platforms;
  • Big Data and analytics make sense of data and can produce descriptive & predictive analytics on investor behaviours, performance measurement, market intelligence or risk metrics;
  • Regulation in the historical ecosystem is still evolving and regulation of the fast evolving FinTech is uncertain;
  • RegTech emerges as a technology based solution creating efficiency and automation in non-subjective compliance tasks.

According to the paper, successful asset management companies will adapt product management and marketing strategies to the mind set and habits of the new generation of investors, using FinTech to make use of a wide set of available data sources, including external sources such as social media. Client profiling will be supported by data analytics. Key features of online platforms will be education, risk & performance metrics, account management functionalities, wealth reports vs investment goals and market insight. These enhanced digital platforms will stimulate direct-to-consumer (“D2C”) distribution channels in both retail and the institutional investor segments.

Luxembourg has very strong investment fund and private banking sectors efficiently working together for the prosperity of investors and the market place. Transfer agents, order management platforms, central administrators and custodians have a major role to play in the Fintech change. Luxembourg players must actively drive the Fintech innovation locally and engage with disrupters, modernizers and enablers in order to be ahead of developments, adapt their operating models with agility and avoid innovation imposed from abroad.

Denise Voss concludes: “The asset management industry has a once-in-a-generation opportunity to reimagine and modernize its distribution model to address market and operational challenges – for future and current investors.  Luxembourg asset servicing providers should make engagement in the FinTech revolution a top priority to remain relevant and competitive to continue to provide best-in-class services to their asset management clients and investors.”

Download the press release in English, French or German.

Download the report How can FinTech facilitate Fund Distribution.

Updated on 30/03/16
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- Press releases

ALFI has issued the ALFI Spring Mag 2016, which brings forward and deepens key topics addressed at this year’s Spring Conference, looks into factors that drive market trends and how those dynamics ultimately affect the investment fund business. 

 

Download the PDF version.

fintech - diversity - regulatory & tax

In compiling this magazine, ALFI has leveraged the wealth of diversity of thought engendered by the broad range of professional backgrounds and experience of its members, who represent the entire value chain of the investment fund business.

ALFI would like to thank all the contributors of the magazine, whose aim was to provide each conference participants with a memento of key industry references discussed during the ALFI Spring Conference and depicted in this unique publication, as we move forward with the fund industry.

Updated on 08/03/16
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- Press releases

Co-chair of the new ALFI Fintech/Digital Forum Serge Weyland (BIL) and Steven Libby (PwC Luxembourg) speak about the Luxembourg initiatives in the fintech space. 

How is Luxembourg positioning itself as a Fintech hub?

Serge Weyland, BIL, Co-Chair of the ALFI Fintech/Digital Forum, says:

"There is a lot going on in Luxembourg at the moment. There are various forums, including the ALFI newly launched Fintech/Digital Forum. We believe that this is definitely an opportunity for Luxembourg as there is lot of knowledge bundled in a small country. We can give access to this knowledge to the Fintech companies for them to develop use cases, to develop ideas of how they can help our industry to become more efficient and come up with new services, new ideas to better serve our customers."

What initiatives is ALFI taking in this regard?

Steven Libby, PwC Luxembourg, Co-Chair of the ALFI Fintech/Digital Forum, says:

"Within ALFI we’ve decided to create the ALFI/Fintech Digital Forum. The idea of this initiative is to bring our members together to look at those disruptors or enablers that will have the most significant impact on our industry. It’s a great opportunity to bring together our community, our ecosystem, together with the Fintechs and look very carefully at different areas: disruptors, digital, blockchain and others which we think will have a significant impact.

We want to be ahead of the curve – we want to drive these initiatives, facilitate the different requirements in Luxembourg regulation in order to help us to win in this quickly evolving space."

Updated on 29/02/16
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- Press releases

Anouk Agnes, Deputy Director General at ALFI, unveils the most appealing topics which will be discussed at the ALFI Spring conference on 8 & 9 March 2016!

 

Ms Agnes says: "The ALFI Spring conference reflects some of the topics addressed in the recent ALFI 2020 Ambition Paper. In this strategy paper we have identified a number of trends that are likely to impact the asset management industry in the years to come: like technology, demographics or consumer behaviour. You will find all these topics on the agenda of the upcoming Spring conference.

For instance: fintech – how can it best serve the asset management industry?

We will also speak to the new generation of investors and look at what it is they really want? In this context we will speak about ESG and also the gender bias in the fund industry. Finally, we will obviously look at how funds can best serve the economy and growth!

So come join us at ALFI Spring conference on 8th and 9th March and look at what matters today and what is important for the fund industry tomorrow!"

Join the conference now!

Updated on 24/02/16
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- Publications

On 5 February 2016, the Luxembourg Caisse de Consignation published Frequently Asked Questions regarding the Law of 28 July 2014 on the immobilisation of bearer shares and bearer units.

The FAQs provide useful guidance on some of the practical steps that Luxembourg companies and Luxembourg investment funds must take with respect to the cancellation of bearer shares and bearer units that will not have been deposited with a depositary before 18 February 2016. The FAQs gives some information in particular on (i) the list of documents that the Caisse de Consignation must receive upon deposit of assets (ii) the level of fees and expenses charged during the period of deposit and (iii) the procedure that the holder of certificates must follow when claiming a refund of assets that have been deposited with the Caisse de Consignation.

Click here to access the text of the FAQs in French or unofficial translation in English and in German.

Related documents:

- the  text of law of 28 July 2014 in French or in English

- the FAQs published by the CSSF on 5 May 2015

Updated on 29/02/16
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- Press releases

Ms Sasha Baillie, Diplomatic Advisor and Deputy Chief of Cabinet of the Vice Prime Minister at the Ministry of Economy, Luxembourg, and Chair of the Nationbranding Committee, speaks about the importance of the nation branding.

Ms Baillie comments: "Yes absolutely, it does. As we all know you never get a second chance to make a very good first impression. In a world where things are moving faster and faster and decisions are taken swiftly, it’s crucial that you are well positioned right from the beginning – it’s important to help to attract investors, new companies, talents, artists, innovators, creators, etc. – and it is also important for the financial services industry. This is why, the Luxembourg government has been pursuing nation branding strategy with the objective of creating a coherent, very positive and authentic image of the country. We want this image to reflect all the positive assets of the country: that we are open, reliable and a dynamic country. This is the objective we want to pursue so it is known instinctively that this is what Luxembourg is."

View other ALFI videos here.

Updated on 15/02/16
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