2018-2019 was another busy year, as the headline of our annual press conference at the end of January suggested: “Growth under pressure in a volatile environment”. High levels of assets under management (AuM) were reported – Luxembourg’s share of all net sales in funds in Europe hit a new record high at 45%, while AuM of ETFs grew by 49% in 2018. In addition, ALFI recorded a 17% increase in AuM for private equity funds, an increase of 25% for loan funds, and a very strong rise in the number of RAIFS – to well over 600.
These figures attest to investors’ continued trust in Luxembourg, and explain our industry’s steady course: it remains the largest EU
fund centre and the second-largest in the world after the US. But 2018 was also ALFI’s 30th anniversary, and I’d like to take the
opportunity to thank our members and partners for their unwavering commitment, strong support and confidence during the past three decades. Here’s to many more years as the global investment fund hub. I strongly believe we have a great future ahead of us – for the benefit of our companies, the economy and investors.
ALFI has been at the forefront and continues to open new markets for UCITS through industry seminars and meetings with regulators around the world, explaining the strong investor protection aspects of UCITS and how the UCITS product and regulatory framework works for investors. ALFI is closely following growing opportunities for UCITS funds in Asia and Latin America where the demand for a greater choice of more investment products will increase and the need for international exposure will grow.
For example, the recent changes in the legislation in Mexico in January 2018 enabled Mexican pension funds AFORES to invest in UCITS funds. One year later, Hong Kong and Luxembourg signed a memorandum of understanding allowing eligible Hong Kong public funds and Luxembourg UCITS to be distributed in each other’s markets – one more example of ALFI’s focus on opening up the world to funds “made in Luxembourg”.
“If there is something that I’d like to be remembered for, it would be financial education. Dedicating ALFI’s 30th anniversary celebration to this vital issue and inviting key stakeholders to discuss it helped put financial literacy and education on the public agenda and created positive momentum for it” says Denise Voss, ALFI Chairman 2015-2019.
press articles generated
speeches given at ALFI events worldwide
bn EUR AuM threshold crossed in September 2017
UCITS & ALFI anniversary in 2018