Aix en Seine - Speech of Eric PINON, AFG’s Chairman
AFG is partner of the Rencontres Économiques d’Aix-en-Provence, organised each year at the beginning of July. This year, with AIX EN SEINE, the exceptional context gives them a special dimension. Please note that Eric PINON, AFG’s Chairman, will be one of the speakers of the session 30, “To Brave the risks”, on 4 July 2020, at 11.30.
Aix en Seine - "Dealing with world disorders - We're going to make it!"
AFG is partner of the Rencontres Économiques d’Aix-en-Provence, organised each year at the beginning of July. Since their creation by the Cercle des économistes in 2001, the Rencontres Économiques d’Aix-en-Provence have become a major economic event in France and around the world. This year, with AIX EN SEINE, the exceptional context gives them a special dimension. For three days, more than 300 speakers, of different nationalities and sensibilities, will share their responses to three major challenges ahead of us:
- Creating the conditions for a dynamic and inclusive society
- Building a large, debated and shared plan
- Renewing European and international relations
Essential extra-financial indicators to assess a company
- AFG published a list of 10 essential extra- financial indicators that could be use to assess companies of all sizes.
- Other themes in which investors need transparency were identified, to be used to open up a dialogue with companies (list of “transparency indicators”).
Spread Table
- The Spread table is provided for calculating and disclosing the implicit transaction costs in relation with MIFID 2 and PRIIPS regulations.
- The information included in this document is provided for the benefit of asset management firms strictly for information and its use is optional.
While the ESMA guidelines on performance fees are a useful exercise to enhance European convergence, they are overly restrictive in setting a five-year reference period
- On 20 March 2020, the European Securities and Markets Authority (ESMA) issued its Guidelines on performance fees in UCITS and certain types of AIFs.
- The AFG exceptionally calls for the partial application of these guidelines, i.e. compliance with most of its provisions, but asks that the application of a reference period of at least five years be optional rather than mandatory.
Sustainable finance: For a more efficient European regulation
- The European Commission (EC) has launched a consultation on the renewed sustainable finance strategy.
- The French asset managers welcome this new step towards developing sustainable finance at European level.
- 10 April 2020 Press Release (English version)
- 10 April 2020 Press Release (French version)
Liquidity risk management tools in open-ended funds - March 2020
- Download the guide Liquidity risk management tools in open-ended funds
- Liquidity risk management is a major concern for asset managers, particularly in the context of open-ended funds, in terms of ensuring the liquidity disclosed to investors in accordance with the fundamental principles of equal treatment of investors and market integrity.
- English version of: Les outils de gestion du risque de liquidité dans les fonds ouverts
Annual overview of the French Asset Management Market
- Annual overview of the French Asset Management Market
- Analysis of industry statistics confirms the strong growth in outstandings in 2019 and France's position as a major player in Europe.
Guide to developing a coal strategy for asset management companies - March 2020
- In line with the collective commitment made by the financial industry on 2 July 2019 at the Ministry for the Economy and Finance, AFG is encouraging asset management companies to adopt a “coal strategy".
- To assist them, this guide identifies best practices for reducing the exposure of investments to coal in order to contribute to the objective of the national carbon neutrality strategy: to stop financing the coal industry.
- AFG recommends that asset management companies consider the maximum risk they are willing to take, i.e. assess the risks for the assets in the portfolio and define their overall strategy with respect to exposure to coal.
Brochure: White Paper : Financial Education : Well-informed investors – key players in tomorrow’s economy - September 2019
The white paper recommends 14 measures broken down into three main areas: Financial education / Training / Regulation
