ALFI’s response to IOSCO’s consultation on point of sale disclosure for collective investment schemes
15 Feb 2010 | Statements and Position Papers
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.
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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.
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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 Luxembourg.
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We thank IOSCO for the opportunity to participate in this consultation on principles on point of sale ("POS") disclosure. We welcome IOSCO's interest in this matter and we share IOSCO's desire for clear and accurate disclosure of information to retail investors in a form that helps them to understand a fund and to compare it to other funds that might be available to them. We thought that IOSCO's paper was very well written and we generally agreed with it.
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We have included in our response references to relevant pages and paragraph numbers in IOSCO's paper.