Economics

ALFI: Politics behind scrutiny of fund managers' use of delegation

Chairman Denise Voss, conducting officer at US fund manager Franklin Templeton Investments, tells journalists delegation is a 'tried and tested model'.

19.09.2017

The use of 'delegation' by fund managers is being scrutinised for "political" reasons, the chairman of the Association of the Luxembourg Fund Industry (ALFI) said on Tuesday.

Luxembourg's fund industry is wary of being caught in the crosshairs of a European regulatory battle over 'delegation', commonly used by Luxembourg-domiciled funds to outsource activities such as portfolio management back to a home country.