The European Fund and Asset Management Association (EFAMA)
EFAMA is the representative association for the European investment management industry. EFAMA represents through its 27 member associations and 59 corporate members about EUR 14 trillion in assets under management of which EUR 8.7 trillion
managed by 54,000 investment funds at end September 2012.
EFAMA represents the interests of the collective investment industry and the asset management industry.
EFAMA's mission is to:
- To support a high level of investor protection through the promotion of high ethical standards, integrity and professionalism in the industry
- To promote the completion of an effective single market for investment management and the creation of a level playing field for competing savings and investment products
- To strengthen the competitiveness of the industry in terms of cost & quality by seeking and obtaining improvements in the legal, fiscal and regulatory environment
- To promote scientific research concerning the industry
EFAMA pursues these objectives through communication and representation to a variety of bodies and organisations:
The European institutions (Commission, Parliament, Council, ESMA)
National legislators and regulators
European associations from other fields (e.g. banking, insurance, pensions)
International bodies (e.g. IOSCO, OECD , IMF, the World Bank)
Members of the
EFAMA establishes ties with investment fund associations from other countries outside Europe, in particular the International Investment Fund Association (IIFA)
How EFAMA first started
Our organization was founded in 1974 under the name "European Federation of Investment Funds and Companies" ("FEFSI" was its French acronym). Its founding members were Belgium, France, Germany, the Netherlands, Ireland, Italy, United Kingdom.
For many years it did not have a permanent home, its secretariat operating on a country-rotating basis. 1990 saw the establishment of a permanent secretariat in Brussels.
As the industry representative of the fastest developing segment in the field of financial services, FEFSI in 2004 changed the articles of its Constitution to represent the investment fund industry and asset management, and to welcome
direct corporate membership in addition to its national member associations. It renamed itself as the European Fund and Asset Management Association to reflect these changes.
The General Meeting is the senior body of the Association. One of its tasks is to approve the strategy and priorities recommended by the Board of Directors.
The Board of Directors is the executive body of the Association. It determines its own agenda. It has a key role to play in setting the priorities and actions of the Association. It is assisted in this by the Management Committee which
acts as a facilitator between the Board and the Working committees and other ad-hoc working parties. Working committees & parties are set up on decision by the Board and are mandated to monitor, study and draw up points for action
on given issues or themes of interest to the industry.
The Secretariat is the administrative unit of the association, responsible for the daily running of the Association and acting as coordinator and facilitator for its members in the industry's representation to the various bodies of the