“The last twelve months will be remembered as a year of milestones”, according to Denise Voss, chairman of The Association of the Luxembourg Fund Industry (ALFI).
Voss made the comment as the association released its annual report at its annual general meeting (AGM).
According to Voss, 2017 has been an important year for sustainable finance in the EU, while the 2020 Ambition remains a key driver for ALFI in a year of milestones.
Voss said: “To achieve our 2020 Ambition, ALFI has set itself five equally important key objectives: promoting practices that align the interests of investors and industry, articulating the essential role of investment funds for the global economy, connecting investors with worldwide market opportunities, ensuring Luxembourg remains the fund centre of choice for asset managers, and, stimulating innovation, research, education and talent development.”
ALFI said changes in the fund industry come via new technological developments. The ALFI digital and financial technology (fintech) forum has been active in the domain of fintech and regulation technology solutions for transfer agent and distribution activities, including anti-money laundering.
According to ALFI, 2018 will be another significant year. As its marks its 30th anniversary, ALFI stated it will continue to advance the interests of asset managers and industry stakeholders, as well as the cross border distribution of investment funds and investors.
These activities will continue to be led by Denise Voss, who will remain chairman until next year’s AGM, which is planned for June 2019.
Commenting on the annual report, Voss said: “In September 2017, Luxembourg investment funds reached a record €4 trillion of assets under management, consolidating Luxembourg’s position as the leading European fund centre. This growth is a testament to our continued efforts to serve investors and the economy.”
Voss continued: “The evolution and application of technology, the continuing development of environmental, social and governance investment, the focus on diversity, regulatory innovation and Brexit have created a series of opportunities and challenges for our members."
"In this context, ALFI and has contributed to the development of the Luxembourg fund industry with a number of key initiatives. The future of asset management in Luxembourg depends on our ability to adapt to a rapidly changing environment.”
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