Dufas

Our 2023 milestones

2023 was marked by our 20th anniversary in the Heineken Experience last May. This anniversary was a moment to celebrate our collaboration in our committees and expert groups that have proven to be of tremendous importance to our members as well as our stakeholders. We would like to thank all members who took part in the committees and expert groups and contributed to achieving these results. Please have a look at our 2023 milestones. The DUFAS team wishes you happy holidays and warmest wishes!

Good start with meaningful conversations

From my start at DUFAS, on November 1st 2023, my priority has been to get to know our members and various stakeholders and to listen to what they have to say. This has already given me very useful input. What strikes me most is the enthusiasm in the way we join forces, work together and share solid knowledge and experiences with each other. Fortunately, our combined insights are as relevant to our stakeholders as they are to us. A strong foundation to build on in 2024! The team at DUFAS and I  look forward to welcoming you in 2024 at our new office in Amsterdam. A year in which we will further strengthen our team. We do this so we can better safeguard the knowledge exchange within our sector. Additionally, in 2024 we aim to  demonstrate even more how asset managers help people improve their income security, as well as the economy transiting to a more sustainable one. We can only do this together. If you want to contribute to this and share your ideas with me, please contact me.

Added value on sustainability topics

Our knowledge center was again running at full speed this year, with my personal attention mainly focused on the European Retail Investment Strategy (RIS), supervisory issues and European sustainability dossiers. In terms of sustainability, we provided active input on files on the Sustainable Finance Disclosure Regulation (SFDR), the Corporate Sustainability Due Diligence Directive (CSDDD) and greenwashing risks. In addition, we made a successful start in October with a number of new chairmen for our committees and expert groups. Very nice to see that our members want to actively contribute to DUFAS in this way!

Strong lobby positions

Together with the Fund Regulation & Investment Services Committee, we have monitored various relevant laws and regulations. Our focus in 2023 was on the Alternative Investment Fund Managers Directive (AIFMD) review, which the EU has agreed on this year. Within the Fiscal Commission we were busy with the bill for the amendment of the FGR, VBI and FBI Act. In 2023 we also focused on the European FASTER proposal, which aims to simplify procedures for reclaiming withholding tax. Together with the AML expert group, we have responded to various consultations, such as the bill to limit access to the UBO registers and the pre-consultation on the modernization of the Dutch sanctions system. We have also been busy with the issues that the sector encountered when registering Ultimate Beneficial Owners (UBOs) in the UBO trust register. Together with the Operational Resilience & Outsourcing expert group, we have organized a DORA workshop and have responded to DORA's first consultation batch, highlighting the lack of proportionality in the level 2 texts. We have also set up a Market Infrastructure expert group, within which we focused on EMIR and T+1 Settlement, among others.

Focus on SFDR level 1 review

Since I started at DUFAS in September as an interim policy advisor on sustainability, I have experienced how constructive and active the members of DUFAS are time and again in thinking about developments and consultations from the European and Dutch legislator. Consider the many extensive sessions surrounding the Sustainable Finance Disclosure Regulation (SFDR) level 1 review, where many people were present, provided input and contributed ideas. This has provided a very solid basis for the consultation response. The involvement and efforts of the members on that file, but also on the other files and meetings, are clearly number one for me. This form of cooperation is the basis for a more sustainable and practical operation of the sector.

Eventful year due to House of Representatives elections

In the field of public affairs, 2023 was of course a special year with the House of Representatives elections. In the middle of the summer, we worked on a nice position paperthat we could share with the program committees of the political parties. Together with media provider BNR, we organized a great Finance Debate with the Dutch Banking Association (NVB) and the Dutch Association of Participation Companies (NVP) at the beginning of November. In addition, we were finally able to welcome the real return box 3 bill and we naturally had many discussions in The Hague with politicians from left to right about themes such as sustainability and tax regimes.

Visibility in Brussels

The year 2023 was partly about increasing our visibility and strengthening our sound in Brussels. We organized appointments with important stakeholders, including European institutions, and maintained close contacts with our European fellow associations. We have taken a constructive approach on various dossiers, including the Corporate Due Diligence Directive (CSDDD) and Retail Investment Strategy (RIS). In the context of RIS, we have actively advocated for simplified access to retail investment products at European level. We are closely involved in the legislative process surrounding EU FASTER (withholding tax), and have responded to various Sustainable Finance consultations from the European Commission. With a view to the European elections in June next year, we have listed the DUFAS priorities in a clear paper.

Further climate support

In 2023 we helped our members further with the Climate Commitment. We made suggestions to adapt the guidelines for signatories of the commitment to the latest insights and European legislation. We also look back on two practical member sessions in the field of climate. For example, together with Guidehouse and PricewaterhouseCoopers (PwC) and Partnership for Carbon Accounting Financials (PCAF), we organized a workshop on calculating CO2 emissions for government bonds. During the second session, TNO explained how satellite technology can help measure greenhouse gas emissions – such as methane emissions from mining.

Kick-off College Tour a great success

What started as an idea last year has actually been developed into a College Tour this year. The first universities have now been visited and the specially developed website www.assetmanagement-careers.nl is live. Through guest speakers and guest lecturers, the students were thoroughly informed about the world of the asset manager and the wide choice of career options within the sector. Positive reactions from both students and teachers confirm to us the usefulness of this College Tour. We look forward to following up on this next year and visiting the following universities.

New office in Amsterdam

There have been many developments within DUFAS in the past year. We have therefore decided to move forward with a new office location: from January 1, 2024, we will move to Paulus Potterstraat 32-II (1071 DB) in Amsterdam. We are really looking forward to the opportunity to meet each other at our new location.

DUFAS 20-year event a great success

2023 was also a festive year, because DUFAS celebrated its 20th anniversary! On Thursday, June 15, we received the EFAMA guests at Hotel Jakarta for the annual board meeting. Then sailed across the Amsterdam canals to the Amstel Church for a dinner together with all DUFAS member representatives. Friday, June 16 was all about our 20th anniversary, with a seminar and festive drinks in the Heineken Experience. We enjoyed the time together to make 'real' contact with each other again – the photos speak for themselves ;-)

"HAPPY HOLIDAYS AND WARMEST WISHES! WE LOOK FORWARD TO WORKING WITH AND FOR YOU AGAIN IN 2024." - THE DUFAS TEAM