EUROPE- The Association of European Investment Funds and Companies (FEFSI) has changed its name to the European Fund and Asset Management Association (EFAMA) to reflect the organisation's growing asset management membership.
EFAMA has gained 35 corporate members from more than 10 countries since a proposed merger with the European Asset Managers Association (EAMA) failed last year, said Wolfgang Mansfeld (pictured), EFAMA’s president (pictured). However, relatively few of EAMA’s former members have joined EFAMA, Mansfeld said. Persuading these members and other fund managers is one of EFAMA’s priorities, Mansfeld said.
“I regret this very much,” he said. “I think the UK is strongly underrepresented as corporate members as there are only two so far. Another priority is to gain tin particular the big cross-border fund managers as well.”
Meanwhile, EFAMA is planning to use its new role as the voice of the fund and asset management industry to lobby the European Commission for more progress on the single market for financial services, Mansfeld said.
“Currently, the single market has made some progress but has not delivered everything,” he said. “We have to have progess at different levels - on the markets side, the services side and the product side.”
EFAMA will time their response to the announced publication in August of a European Commission green book on the internal market, Mansfeld said.
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