Danish fund association changes name
The Danish Investment Fund Association (Investeringsfondsbranchen, IFB) is the new name for the trade association representing collective investment schemes in Denmark.
The change of name from Investeringsforeningsrådet, IFR, came at the organisation’s annual general meeting. A decision was also agreed to launch a new website www.investering.dk, so support the objectives of the organisation.
Membership has not changed per se; the organisation still predominantly represents domestic investment associations – the type of listed collective investment vehicle that is most popular with long term investors – although membership is not compulsory for either domestic or foreign asset managers active in Denmark.
According to data from IFB, there were some 770,000 Danes invested in funds last year. The average level of total investments of these individuals was DKK460,000, while many saw their personal AUM grow as Danish funds averaged returns of 36% through 2013.
The local fund industry has grown over the past 30 years from an estimated AUM of some DKK10bn to over DKK1.68trn (€1.33bn to €225bn).