On Wednesday 17 June 2020, the Association of the Luxembourg Fund Industry (ALFI) published its annual report 2019/2020.
In its report, ALFI has provided industry statistics, set out its priorities and offered an overview of its various areas of work, including topical legal, tax and industry expertise, events, as well as updates from its representative offices abroad. For instance, 2019 saw assets under management (AuM) in Luxembourg funds reach €4,404 billion and 991 Reserved Alternative Investment Funds (RAIF) were registered in the Grand Duchy.
In addition, Corinne Lamesch provided in the report a recap of her first year as ALFI Chairperson, looking at macro-trends, major achievements such as the recent release of the association's Ambition 2025 and her eagerness to drive diversity and inclusion in the fund industry forward.
Regarding ALFI's Ambition 2025, the association's objectives and ambitions for the next five years have become more important than ever in the context of the coronavirus pandemic. The asset management industry in Europe is at a critical juncture where new macroeconomic and societal trends will bring both challenges and opportunities. Asset managers thus have a unique opportunity to strongly influence the strategies of companies globally so they are more aligned with the values of our changing society and better connected to the interests of future generations. Changes in demographics, with ageing populations and investor expectations mean there is a rising need for new investment fund solutions focused on sustainable finance and better pension products as well as a demand for increased transparency and for a much better customer experience.
Corinne Lamesch explained: "A pandemic is indeed not what I had in mind when I said that the asset management industry was at a critical juncture, facing both challenges and opportunities. But in my perception, change was in the air even then, before we were collectively hurled into this new reality".
The full annual report 2019/2020 is available at https://www.alfi.lu/en-GB/AnnualReport/2019-2020?utm_source=press-release-lux&utm_medium=email&utm_campaign=ar-agm-20.
ALFI also successfully held its annual general meeting on Wednesday in virtual form. Nearly 100 attendees gathered for the video conference. Voting support came via technology by Governance.com.