FOR IMMEDIATE RELEASE
ALFI and NICSA Enter Into a Formal Alliance
Luxembourg - September 14, 2004. The National Investment Company Service Assoiation (NICSA) and the Association of the Luxembourg fund industry (ALFI) are deepening their cooperation. Thanks to an agreement that has just been signed in Luxembourg, the two associations and their members will be better placed to meet the challenges posed by the increasing globalization of the investment fund and financial services industries.
NICSA, which was created more than 40 years ago, is a not for profit trade association serving the operations sector of the investment industry. Its membership totals more than 400 mutual fund complexes, investment management companies, custodian banks, transfer agents and independent providers of specialized products and services based in the United States and in 15 other countries, notably in Europe and Asia.
Created in 1989, ALFI has a membership comprising more than 800 Luxembourg domiciled investment funds and some 80 administration agents, custodian banks, professionals of the financial sector, consultants, auditors and specialized service providers to the investment fund industry.
This alliance represents a formalization of the cooperation and goodwill that has existed between the two associations for many years and is best illustrated by the joint organization of the Annual Europe-USA Investment Funds Forum, a two day international conference held in Luxembourg early each autumn.
The associations have agreed to address issues of mutual interest together and to advance the exchange of information between each other and both with and between their members. Working groups will identify areas for joint research, the results of which should benefit the members of both associations.
ALFI and NICSA also emphasize their determination to continue the joint organization of the annual "ALFI-NICSA Conference", which will cover topics related to investment fund operations, distribution and administration in a cross border and international environment, with a special focus on EUROPE-USA relationships. In this context, both partners agreed to encourage the regular exchange of speakers at their main events and conferences.