ALFI prepares for Asia surge in UCITS, appoints new Asian Head
As reported in private equity wire this week, the Association of the Luxembourg Fund Industry (ALFI) has appointed a new Asian head, Ching Yng Choi, underlining its continued commitment to attract business from the region. Of the roughly 2000 UCITS-compliant funds in Hong Kong, 1000 hail from Luxembourg with 400 from Ireland and the UK. To that end, Choi’s role will be two-tiered, presenting the merits of Luxembourg as a fund domicile in conjunction with promoting the UCITS structure to Asian fund managers. Choi will be based in Hong Kong where Alfi recently opened an office. Claude Kremer, chairman of Alfi, commented in the press that the new office was established “in response to the continued strengthening of the Ucits brand in Asia, and it will help Alfi further develop valuable relationships with asset managers, regulators, fund associations and investors.” When asked about Choi’s new role as Asian Head, Charles Muller, Deputy Director General, ALFI, told Hedgeweek: “We chose Choi because she is a Hong Kong national who was brought up in Belgium. Her European background coupled with her fluency in Mandarin and Cantonese made for a good combination.” Choi joins from Lux-headquartered MDO Services where she worked as a risk manager.
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