New ALFI chairman Denise Voss lost little time in setting out her stall. Within an hour or two of the news of her elevation being confirmed, she went into some detail in describing its "Ambition" for the next four years.
“We have identified a number of factors that will impact the fund industry over the next few years related to consumer trends, demographics and technology, as well as shifts in the asset management industry itself,” she said.
"It's important that, as an industry, we anticipate and address these shifts if we are to continue to serve the interests of investors and the economy. To underpin this, we are committed to strengthening Luxembourg's position as the international fund centre of reference, recognised as open, reliable and innovative by investors, policymakers and industry alike."
In order to achieve its ambition, ALFI says it has set itself five key objectives for the next four years.
Promote practices that align the interests of investors and industry by helping asset managers ensure that their practices, products and services match their clients' needs in an era of global, digital distribution.
Articulate the essential role of investment funds for the global economy by demonstrating how funds help resolve long-term issues of funding pensions, financing innovation and infrastructure, and contribute to growth.
Connect investors with worldwide market opportunities by continuing to facilitate cross-border fund distribution for the benefit of the global community of investors who wish to participate in economic growth practically anywhere in the world.
Ensure Luxembourg remains the fund centre of choice for asset managers by offering asset managers the best access to global distribution, deep and competitive talent and servicing infrastructure, outstanding corporate governance, an efficient and effective approval and oversight process, and a clear regulatory and taxation framework.
Stimulate innovation, research, education and talent development by encouraging academic research related to the investment fund sector, supporting the development of new retail investor technologies and applications with a particular focus on the next generation of investors, as well as expanding professional training programmes to broaden and deepen the talent pool for the global fund industry.
"Luxembourg has played a key role in helping asset managers work through the implementation of extensive regulation after the crisis and has created effective solutions for asset managers, enabling them to distribute their funds globally,” concludes Voss. “We must now also address the shifts in demographics and technology if the industry is to continue to play its role of serving the interests of investors and of the economy."
