EFAMA is the representative association for the European investment management industry. EFAMA represents through its 26 member associations and 63 corporate members almost EUR 19 trillion in assets under management of which EUR 12.7 trillion managed by 55,600 investment funds at end March 2015. Just over 29,300 of these funds were UCITS (Undertakings for Collective Investments in Transferable Securities) funds, with the remaining 26,300 funds composed of AIFs (Alternative Investment Funds).
How EFAMA first started
Our organisation was founded in 1974 under the name "European Federation of Investment Funds and Companies" ("FEFSI" was its French acronym). Its founding members were Belgium, France, Germany, the Netherlands, Ireland, Italy, United Kingdom. For many years it did not have a permanent home, its secretariat operating on a country-rotating basis. 1990 saw the establishment of a permanent secretariat in Brussels.
As the industry representative of the fastest developing segment in the field of financial services, FEFSI in 2004 changed the articles of its Constitution to represent the investment fund industry and asset management, and to welcome direct corporate membership in addition to its national member associations. It renamed itself as the European Fund and Asset Management Association to reflect these changes.
The General Meeting is the senior body of the Association. One of its tasks is to approve the strategy and priorities recommended by the Board of Directors.
The Board of Directors is the executive body of the Association. It determines its own agenda. It has a key role to play in setting the priorities and actions of the Association. It is assisted in this by the Management Committee which acts as a facilitator between the Board and the Working committees and other ad-hoc working parties. Working committees & parties are set up on decision by the Board and are mandated to monitor, study and draw up points for action on given issues or themes of interest to the industry.
The Secretariat is the administrative unit of the association, responsible for the daily running of the Association and acting as coordinator and facilitator for its members in the industry's representation to the various bodies of the European Union.