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Understanding Investing 简体中文网页 Members section

Statements

Over the year, ALFI participates in numerous consultations issued by European Institutions and industry associations.


Updated on 12/02/13  
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Displaying page 13 on 15 pages

ALFI and ALFP joint contribution to the Green Paper on pension funds

- ALFI statements

The Respondents share the analysis of the European Commission and its concerns regarding the adequacy of the current European pension systems, and encourages the European Commission to support the Members States in their efforts to strengthen adequacy. The Respondents call for more harmonization and consistency in the EU. If the adoption of the IORP Directive was indeed a major achievement, there are still barriers to cross-border activities.

ALFI’s response to CESR’s consultation on its guidelines for the transition from the simplified prospectus to the key investor information document (Ref. CESR/10-672)

- ALFI statements

According to the UCITS IV Directive (2009/65/EC), Member States can decide whether or not to allow UCITS established in that State up to 12 months to implement the Key Investor Information. In trying to balance the scope for consumer confusion with the costs to be borne by management companies and ultimately consumers, CESR’s guidelines set out what it considers to be the appropriate approach that management companies should take during the transitional period. The guidelines will enter into force in line with the transposition deadline for the revised UCITS Directive (1 July 2011).

ALFI wholly supports CESR’s proposals for transition.

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ALFI’s response to CESR’s consultation on its level 3 guidelines on the selection and presentation of performance scenarios in the Key Investor Information document (KII) for structured UCITS (Ref. CESR/10-530)

- ALFI statements

In terms of Key Investor Information, the UCITS IV Directive (2009/65/EC) requires for structured UCITS (including capital-protected and guaranteed UCITS) and other comparable UCITS the use of prospective scenarios, as presentation of past performance is not relevant. In order to ensure comparability between structured UCITS, the consistency in the choice of prospective scenarios and the format of the presentation of those scenarios, CESR has developed guidelines with a view to harmonising the selection and presentation of scenarios. Please click here.

ALFI’s response to CESR’s consultation on the guide to clear language and layout for the key investor information document (KII) (Ref. CESR/10-532)

- ALFI statements

The Simplified Prospectus failed as a consumer communication because the rules led to long documents. In addition, many are written in technical or legalistic language and poorly structured and designed. The Key Investor Information document is a radical attempt to address these shortcomings. Although CESR does not believe there is a single right way to write and design a KID, its guide is intended to help to craft a KID by giving pointers to widely-accepted good practice.

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ALFI’s response to the European Commission’s Public Consultation on Derivatives and Market Infrastructures

- ALFI statements

ALFI appreciates the opportunity to respond to the European Commission’s Public Consultation on Derivatives and Market Infrastructures. The following feedback only focuses on legal specialties of fonds commun de placements (FCPs). For the avoidance of doubt, there are also legal specialties regarding société d´investissement à capital variable or à capital fixe (SICAV / SICAF) respectively umbrella structures (Sub funds), which should be considered in the in tended regulation of derivatives and market infrastructures. We believe that already our feedback regarding FCPs discloses that

ALFI's response to CESR's consultation on risk measurement and the calculation of global exposure and counterparty risk for UCITS (Ref. CESR/10-108)

- ALFI statements

ALFI represents the Luxembourg investment management and fund industry. It counts among its membership over 1 350 funds and asset management groups from around the world and a large range of service providers. According to the latest CSSF figures, on 31 March 2010, total net assets of undertakings for collective investment were 1 981 bn euros.
There are 3 516 undertakings for collective investment in Luxembourg, of which 2 149 are multiple compartment structures containing 11 146 compartments. With the 1 367 single-compartment UCIs, there are a total of 12 513 active compartments or su

ALFI’s response to IOSCO’s consultation on point of sale disclosure for collective investment schemes

- ALFI statements

  1. ALFI represents the Luxembourg investment management and fund industry. It counts among its membership asset management groups from various horizons and a large variety of service providers. According to the latest CSSF figures, on 30 November 2010, total net assets of undertakings for collective investment were EUR 1.789 billion.
  2. There are 3,473 undertakings for collective investment in Luxembourg, of which 2,097 are multiple compartment structures containing 10,875 compartments. With the 1,376 single-compartment UCIs, there are 12,251 active compartments in Luxe

ALFI’s response to the IOSCO consultation report on private equity conflicts of interest

- ALFI statements

ALFI represents the Luxembourg investment management and fund industry. It counts among its membership over 1,300 funds and asset management groups from around the world and a large range of service providers. According to the latest CSSF figures, on October 2009, total net assets of undertakings for collective investment were 1,778 trillion euros.


There are 3,454 undertakings for collective investment in Luxembourg, of which 2081 are multiple compartment structures containing 10,874 compartments. With the 1,373 single-compartment

ALFI: Response to the CESR consultation regarding level 2 measures relating to mergers of UCITS, master-feeder UCITS structures and cross-border notification of UCITS

- ALFI statements

CESR's technical advice to the European Commission on level 2 measures relating to mergers of UCITS, master-feeder UCITS structures and cross-border notification of UCITS

 

ALFI represents the Luxembourg investment management and fund industry. It counts among its membership over 1,300 funds and asset management groups from around the world and a large range of service providers. According to the latest CSSF figures, on 31 August 2009, total net assets of undertakings for collective investment were 1,739 trillion euro

Displaying page 13 on 15 pages