Marc Saluzzi re-elected as Chairman of ALFI at Annual General Meeting

18 June 2013 | Press Releases  

At its Annual General Meeting held on 19th of June 2013, the Association of the Luxembourg Fund Industry (ALFI) elected a new Board of Directors for a period of two years. The new Board of Directors renewed the mandate of Marc Saluzzi as Chairman for two more years.

At the AGM, ALFI also presented its Annual Report for the year 2012 and a revised version of the Code of Conduct.

The Annual Report revealed that the year was marked by the strong net inflows of EUR 123.09 bn into Luxembourg funds. Luxembourg therewith experienced the strongest net inflows in Europe. Altogether, Luxembourg funds finished the year up 13.70% or EUR 287.31 bn, reaching again a historic high of EUR 2,383.83 bn. This positive trend continued in the first month of the year 2013 with an additional 7.61% increase of assets under management until the end of April 2013, reaching EUR 2,565.56 bn.

Mr Saluzzi commented on the positive results with a word of caution: “The Luxembourg fund centre remains a leader in Europe and worldwide. However, we will in no way rest on our laurels. ALFI remains committed to its ambition plan and the five priorities it has identified. These five priorities are still, if not  even more, relevant for the next two years”:  

  • Defend the concept of regulated funds, especially UCITS, against the side effects of the regulatory agenda
  • Help alternative fund managers and institutional investors to leverage the concept of a regulated AIF introduced by AIFMD
  • Innovate again, with a special focus on responsible investing
  • Facilitate cross-border distribution in existing and new distribution markets
  • Remain the global fund management industry partner of choice

He continued: “The regulatory agenda is intense; the competition inside and outside Europe is sturdy. But I am confident that with the continuous support of our membership, we will manage to safeguard Luxembourg’s position as a partner of choice for asset managers around the globe.”

Numerous developments in fund regulations and governance have led ALFI to review and update the ALFI Code of Conduct initially published in 2009.According to the most recent survey on fund governance in Luxembourg, 85% of the UCITS surveyed reported that they had adopted the ALFI Code of Conduct.

Marc Saluzzi comments: “We encourage all participants in the Luxembourg fund industry to carefully consider and adopt the contents of the revised Code of Conduct.”


The new Board of Directors is as follows:

Saluzzi Marc, PWC Luxembourg, Chairman

Arntz Jean-Christoph, Allianz Global Investors Luxembourg S.A.

Bock Georges, KPMG Luxembourg S.à r.l.

Brausch Freddy, Linklaters LLP

Brunet Stéphane, BNP Paribas Investment Partners Luxembourg S.A.

Chauvaux Pascal, Pictet & Cie (Europe) S.A.

Cimino Pierre, Caceis Bank Luxembourg S.A.

Elvinger Jacques, Elvinger, Hoss & Prussen

Ferguson Michael, Ernst & Young S.A.

Fessey Noel, Schroder Investment Management (Luxembourg) S.A.

Fischer Rafik, KBL European Private Bankers S.A.

Griffin Jonathan P., JPMorgan Asset Management (Europe) S.à r.l.

Hamlescher Ewald, Swiss & Global Asset Management (Luxembourg) S.A.

Kessel Rudolf, Union Investment Luxembourg S.A.

Kiesch Lou, Deloitte

Kömen Rudolf, Credit Suisse Fund Management S.A.

Kremer Claude, Arendt & Medernach

Marx Doris, DWS Investment S.A.

Radcliffe Geoff, Blackrock (Luxembourg) S.A.

Schintgen Gilbert, UBS Fund Management (Luxembourg) S.A.

Seale Thomas, European Fund Administration S.A.

Voss Denise, Franklin Templeton International Services S.A.

Wathelet Marc, FIL (Luxembourg) S.A.

Zimmer Julien, DZ Privatbank S.A.



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