ALFI publishes its annual report and holds in-person AGM
21 June 2022 | Press Releases
On 21 June 2022, the Association of the Luxembourg Fund Industry (ALFI) published its Annual Report 2021/2022. On the dedicated website, the association assesses performance over the last 12 months, offers industry statistics, sets out its priorities and gives an overview of its various areas of work, including topical legal, tax and industry expertise, events, and updates from its representative offices abroad.
Corinne Lamesch, ALFI Chairperson, looks at responsible finance as the key to overcome the manifold challenges ahead of us. She said: “We believe that the way out of the pandemic and through the next challenges will be supported by responsible growth that will benefit society as a whole. Together with our members, we continue to explore best practices and strategies that can help with greening the financial sector. We are convinced that we can create truly sustainable investment solutions that are viable from a regulatory standpoint, conform to the increasingly sophisticated investor demand and satisfy business needs at the same time.”
In a foreward to the members, Camille Thommes, ALFI Director General, reflects about the importance of collective efforts to ensure that Luxembourg remains a reliable fund hub, even during unstable times such as these, where war is back in Europe. He stated: “As we seemed to be nearing the end of the pandemic, figures were encouraging, with AuM in the Grand Duchy at EUR 5.9 trillion, as of end 2021, an all-time high. More importantly, we observed net flows at record-breaking level, in excess of 30 billion per month. Half a year has passed since, and we have had to face the terrible reality of war in Ukraine. In our industry, the nature of investment funds means that following sanctions rules can require complicated mechanisms. At ALFI, we want to make sure our members can stay on top of sometimes rapid developments. When the war began, we quickly established a contact channel for crisis-related questions. We have been helping to direct information and we are in regular contact with the CSSF to discuss operational and regulatory challenges and possible solutions. We want to contribute to the efficiency and reactivity that makes Luxembourg a reliable fund hub.”
Over the reporting period, ALFI responded to 37 consultations and published 22 new documents ranging from Q&A and guidelines to surveys and other brochures. These ALFI publications and consultation responses are a keystone in providing ALFI members with practical guidance and giving our industry a collective voice.