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Private credit is experiencing growth. The newest DUFAS member, Mogelijk, is a market leader in commercial real estate financing. With Dirk Jan van der Hoeden, who holds the commercial reins at Mogelijk, we talk about the sector's growth, opportunities and risks. Not everyone is enthusiastic about the growth of private credit. It is seen as risky. That is one big misconception, explains Dirk Jan van der Hoeden "The market is well regulated. We actually seek out the regulator."
Noussair Aatil has been in banking for years, most recently for Amundi. Recently, at asset management trade association DUFAS, he chaired a new expert group on private markets. He was interested in financial markets from a young age. In addition, he also immerses himself in private markets. He finds it particularly interesting to see in what ways companies are financed with private capital: traditionally by institutional investors, but increasingly accessible to smaller investors. This is a growing and important topic given the increasing demand for private investment.
In a letter to administrators of the new cabinet, the Dutch financial sector announces that it supports the new coalition's course on climate and green growth. At the same time, banks, pension funds, asset managers and insurers are asking the new administrators for a clear and reliable long-term policy.
DUFAS has responded to the European Commission's consultation on the Digital Fitness Check, an assessment of the cumulative impact of European digital regulations. With this fitness check, the Commission wants to assess how various digital legislative initiatives collectively work out in practice.
DUFAS congratulates the Minister of Finance on his reappointment. We look forward to a good cooperation in the coming years.
In January, the European Commission published a call for evidence with the goal of achieving Better Regulation. From DUFAS we support the objectives of the European Commission regarding Better Regulation and the importance of evidence-based, proportionate and predictable regulation. At the same time, we emphasize that effective regulation requires clear choices: not all risks can or should be regulated away. Regulation should focus on material and systemic risks, with room for professional supervision and market forces, so that urgent situations can be dealt with quickly and purposefully.
The Dutch financial sector welcomes and supports the ambitions of the new coalition. The agreement is a step in the right direction to sustainably strengthen the earning capacity of the Dutch economy. The financial sector endorses the importance of stable and predictable long-term policy. Based on that conviction, the organizations involved are reaching out to the Jetten cabinet to work together on the further elaboration and realization of the plans. The sector is keen to discuss the removal of unnecessary national headings on European rules, strengthening the capital market and improving the business climate.
Collaboration and knowledge sharing in the financial sector are essential for advancing sustainable finance. We are proud to have contributed to the publication of a new handbook on integrating impact into investment portfolios, developed by the Working Group on Integrating Impact under the Sustainable Finance Platform. The handbook brings together practical experience and academic insights in one shared educational document.
In November, the European Commission presented the Supplementary Pensions Package, with proposals to strengthen supplementary pensions in Europe. The package consists of recommendations for member states and legislative proposals for both the revision of the IORP II Directive and the PEPP Regulation. From DUFAS we welcome this package as an important step towards stronger and future-proof supplementary pensions in Europe. Well-functioning pension systems are essential for adequate incomes after retirement and as a key to mobilizing long-term capital for the European economy. In doing so, the pension package directly aligns with the broader ambitions of the Savings and Investment Union (SIU). In our position, we address a number of concerns and refinements important for workable implementation for asset managers.
From DUFAS, we welcome the European Commission's Market Integration and Supervision Package (MISP) as an important step towards a better functioning and more integrated European capital market. The package fits within the broader ambition to strengthen savings and investment in Europe and to allow private capital flows to better contribute to economic growth, innovation and strategic investments. For asset managers operating in multiple European member states, further market integration is of great importance. Although the industry formally operates within one single market, in practice managers still experience significant differences in national regulations, supervisory practices and administrative processes. This fragmentation leads to higher costs, longer lead times and unnecessary complexity. The MISP contains proposals that seek to remove these obstacles in a targeted way.
Privium Fund Management is actively involved in the Dutch and European policy debate on asset management and sees DUFAS as an essential link between the industry and policymakers. That's why Privium has been a member of DUFAS since December. In this interview, Marlien Blaauw and Robert-Jan van Hoorn of Privium discuss the role of DUFAS within the increasingly complex regulatory landscape, the key developments and challenges for the industry in the coming years, and how they intend to contribute to a strong and future-proof asset management industry through committees and expert groups.
