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Alternative Market Briefing

French working group enacts seven measures to make Paris more attractive to international investors

Friday, October 28, 2016

Benedicte Gravrand, Opalesque Geneva:

In a continuing effort to promote France as an alternative financial centre to London after Brexit, a working group has just come up with seven measures to make Paris a more attractive centre for international investors.

The quirkily-named "FROG" group is the product of the French regulator AMF (Autorité des Marchés Financiers) and the country's investment management association AFG (Association Française de la Gestion Financière). The two bodies say they want to provide French and foreign asset management firms with investment funds domiciled in France the best possible conditions for international growth.

The measures, listed in a report called ISeven, are as follows:

The first two measures will allow investors to: 1. Choose from a comprehensive catalogue of fund subscription/redemption solutions (including the development of a transfer agent offering in France); 2. Invest in SICAVs (open-ended investment companies) that have opted to comply with a governance charter.

  The five other measures, which emphasise transparency or give management companies more flexibility, will also allow asset management firms to: 3. Improve management fee disclosure and provide a clearer picture in the online comparison tools; 4. Decide on the absence or use of the AMF’s fund classification, which has been m......................

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