The working group will focus on South East Asia, where the Luxembourg funds industry is already well established. It also adds to ALFI’s existing office in Hong Kong.
According to a 2016 PwC survey, some 69 percent of foreign funds sold in Singapore are domiciled in Luxembourg.
The new group seeks to improve Luxembourg funds professionals’ understanding of the investment market in Singapore and South East Asia, with regards to laws and regulations, investment culture and management techniques, and the challenges and opportunities around distribution.
Ching Yng Choi, head of ALFI’s Asia representative office in Hong Kong and co-chair of the Singapore working group, commented: “The working group will also be instrumental in proposing and preparing promotional activities and trade missions in the region, and will be setting up a knowledge base to share insight with local industry players.”
The group will also be co-chaired by Valérie Mantot, head of the Middle East, North Africa and South East Asia at Sanne Group.