Denise Voss, chairman of Alfi, explained the significance:
“Luxembourg is the second largest fund domicile after the US. The growth of assets under management has been quite spectacular with the increase from 3 to 4 trillion taking merely 3 years. Luxembourg funds are now distributed in over 70 countries around the world and we now have 4,110 funds domiciled in Luxembourg.”
“Not only have we experienced growth of traditional Ucits funds domiciled in Luxembourg, we have also seen an increase in the AUM of alternative investment funds, especially in the areas of private equity and real estate.”
Alfi has initiated several projects to promote Luxembourg as a hub for assets under management.
In Singapore, Alfi set up a working group to promote increased collaboration and closer relationships between the two fund centres. In Australia, Alfi negotiated an exemption for financial services providers regulated by the CSSF (the Luxembourg financial regulator), from the obligation to hold an Australian license to provide financial services, enabling Australia’s institutional investors, including its superannuation pension funds, to have easier access to Luxembourg Ucits.