French AM industry to work on French funds’ competitiveness
The French market regulator Autorité des Marchés Financiers and the French asset management association (AFG) have recently launched Frog, a working group chaired by Didier Le Menestrel, chairman of La Financière de l’Echiquier and head of the AFG Competitiveness Commission.
This working group aims to raise the profile and broaden the distribution of French investment funds abroad. It is composed of professionals representing the asset management, infrastructure and fintech industries.
It will focus on two technical aspects : French funds’ strategies and legal structures as well as distribution channels and market infrastructures.
Frog will unveil its recommendations for infrastructure, legal structure, technological developments and other issues next summer in a report detailing steps that can be taken immediately and concrete recommendations for longer-term goals.
“France is extremely fertile ground for the development of first-rate asset management services: the creation of the Frog group is a very positive sign that the industry’s energy is focused on making the French financial ecosystem more appealing to investors.
“By proposing to implement simple, concrete initiatives, Frog should make the French asset management sector more competitive internationally and a vital tool for financing the French economy,” Le Menestrel said.