02 June 2022
- Today, Cecabank hosted the roadshow of the Association of the Luxembourg Fund Industry (ALFI), with the participation of a distinguished group of national and international experts
- The event was a unique opportunity to analyse the interconnection between Spain and Luxembourg in their international expansion and to present the latest developments in the sector in terms of innovation and sustainability
MADRID, 2 JUNE 2022.- Today, Cecabank hosted the Association of the Luxembourg Fund Industry (ALFI) roadshow at its headquarters in Madrid, as part of ALFI's commitment to promote the Luxembourg fund industry internationally and to brief local fund specialists on the latest developments in the industry in terms of innovation and sustainability.
ALFI represents the private and conventional investment fund community in Luxembourg and is an advocate of sustainable investment. 'ALFI's mission is to lead the industry's efforts to provide solutions that address the demands of investors and to make Luxembourg a more innovative international investment fund centre. Luxembourg is home to more funds than any other European country and is the world leader in cross-border fund distribution.
Cecabank is the benchmark custodian bank for Securities Services in Spain and Portugal, providing post trading services for marketable securities and financial instruments such as depositary, registry, custody, clearing and settlement services. This leading position is based on in-depth knowledge and expertise in custody and depositary services.
Cecabank is an independent and neutral partner, a service platform for any financial and non-financial institution. In addition, it has a presence in the main European financial markets, providing it with an international dimension and enabling it to enhance the services it offers outside of Spain. Cecabank is present in the United Kingdom, Portugal and Germany through its offices in London, Lisbon and Frankfurt with the dual purpose of extending Cecabank's services to entities outside Spain, as well as the relentless pursuit of emerging trends and needs in the industry.
Debating on the fund industry
The session was opened by Corinne Lamesch and Jean-Marc Goy, Chairman and Deputy Chairman of ALFI, respectively. This was followed by Marc-André Bechet, Deputy Director General of ALFI, who said: "On behalf of the ALFI community, I am honoured to partner with Cecabank, who have given us their full support in organising this event. Cecabank is a major player in deposit services and a reputable institution. We see the Spanish market at a turning point: domestic funds continue to dominate with a 57% market share, while foreign funds account for 43% of the net equity of Spanish investors. With €31,000 million in Luxembourg investment funds from a relatively large number of fund managers (66 in total), Spain is beginning to make inroads into the management of funds domiciled in Luxembourg".
During the meeting, a distinguished group of experts analysed the interconnection between Spain and Luxembourg in their international expansion and discussed the importance of increasing synergies between the two countries. The characteristics that make a fund successful, compliance with ESG criteria and the expansion of Spanish Alternative Investment Fund Managers (AIFM) were some of the other topics under the spotlight during the session.
The event, held in person at Cecabank's headquarters in Madrid, as well as online, has brought together more than 200 attendees from 147 institutions from 7 countries, with the participation of representatives from ALFI, Pictet Asset Management, Alantra Energy Transition, Credit Mutuel Investment Managers, Stoneshield Capital, CaixaBank Asset Management, Edmond de Rothschild, Alaluz Capital, Ernst & Young, Arendt Regulatory & Consulting, Adepa Asset Management, PwC and KPMG.
For Aurora Cuadros, Corporate Director of Securities Services at Cecabank: "At Cecabank we maintain our focus on supporting our clients in international projects in our role as custodian bank. It is a real pleasure to host the roadshow organised by ALFI in Madrid and thus contribute to the cooperation between Luxembourg and Spain in moving towards a more collaborative, innovative and sustainable ecosystem around the investment fund industry".
