This year’s Investment Management Forum featured an incredible number of high-level speakers and thought-provoking discussions.
Our 27th Investment Management Forum was kicked-off by EFAMA President Naïm Abou-Jaoudé. The CEO of Candriam highlighted the building blocks our industry needs to 'Build back better': long-term investors and their support for sustainable finance.
Following his opening was the keynote speech of Commissioner Mairead McGuinness. She announced proposed changes to the AIFMD, including the launch of a pan European Loan Fund framework and reforms to the ELTIF regime. She also addressed the need for more action on financial education, the launch of the European Single Access Point ESAP and the proposal for a real-time consolidated tape. You can re-watch her intervention here: https://youtu.be/oAkxzca6vHs.
McKinsey & Company followed with a captivating analysis of the Impact of Digitalisation on Asset Management.
Nick Fitzpatrick, editor of Funds Europe, moderated our very engaging and thought-provoking CEO panel. The panel featured Valérie Baudson from Amundi, Laurent Ramsey from Pictet Asset Management, Mark Versey from Aviva Investors and Asoka Wöhrmann from DWS Group. They addressed challenges and opportunities for the asset management industry, tackling ESG investments, data availability, green washing and digital transformation, among other topics.
The CEOs discussed the EU’ potential to lead in the sustainable finance space, if Member States can sort out the details and ensure rich data and simple standards, next to addressing divergences on a global level. In addition, they thought EFAMA could play a powerful role in advocating for principle-based regulation and mentioned that the EU should not waste time and take the lead in creating a social taxonomy.
Throughout the conference we asked the audience several questions. The poll on the most transformative impact for asset management in the next decade focused the audience on two areas 'Integration of ESG considerations’ and ‘impact of digitalisation’.
Iris van de Looij (DUFAS Director General) moderated our expert panel on the retail investment strategy, debating inducements and the possibility of an inducement ban. A recent KPMG study showed a ban is no alternative for clients with limited financial possibilities.
The panel members also addressed the lessons learned from the UK experience when inducements were banned. The outcome: when policy alters the availability of advice, it is key that there is a viable alternative for investors to catch the moving assets.
Natasha Cazenave, Executive Director at European Securities and Markets Authority (ESMA) gave a very insightful keynote speech. She talked about how the asset management industry can contribute to the Capital Markets Union and the climate transition.
She also touched on investor education and financial stability. You can read here speech here: https://www.esma.europa.eu/sites/default/files/library/esma34-38-278_esma_ed_natasha_cazenave_keynote_speech_efama_investment_management_forum_2021.pdf
Our panel moderated by PwC Luxembourg's Nathalie Dogniez discussed in detail the challenges of sustainability reporting and the role of EFRAG (European Financial Reporting Advisory Group) and the ISSB (International Sustainable standards Board).
Speakers at the panel confirmed that standards are necessary to complete the legislative process that was initiated by the NFRD, the Taxonomy and SFDR. They will help the financial world gather ESG data, which will not be scattered anymore.
They also mentioned that ESG corporate disclosures are key, but only the first step in building sustainable investment. More exciting sources will be available used soon, like big data, geospatial input, satellite imagery, blockchain, modelling etc.
And finally they concluded that there is no contradiction between an investor perspective, which is driving financial materiality, and double materiality, focusing on environmental impacts on organisations and on impacts that organisations have on people and the planet.
Access the PwC ESG report presentation here.
Our first panel on the second day of the IMF discussed the upcoming European Commission proposal for the AIFMD and the ELTIF review. It was moderated by Markus Mecklenburg from the BVI German Investment Funds Association and panelists discussed delegation and related issues.
Pat Lardner, CEO of Irish Funds, conducted an insightful interview with the new IOSCO Secretary General Martin Moloney. They discussed financial stability, sustainability, ETFs and more.
Our fantastic moderator Elisa Ricón Holgueras from INVERCO discussed with her panel macro-prudential frameworks around MMFs and other products. A frank discussion between regulators and the asset management industry.
After the traditional update on US regulatory affairs by the law firm Dechert, Tanguy van de Werve, EFAMA’s Director General, closed the conference saying:
"Huge thanks to all speakers and participants of the 2021 Investment Management Forum. This 27th edition demonstrated once again the value and importance of providing policymakers and investment managers with a platform to exchange views and debate how best to enable the investment management industry to help tackle some key societal challenges.”
We look forward to receiving you in Brussels next year. Please save the date in your diaries: 18-19 November 2022.