2024-06-03 21:35:47
“The Moroccan UCITS trade has skilled appreciable development since its launch in 1995 and as we speak performs a big function within the improvement of the Moroccan monetary market. It at the moment has 573 energetic UCITS managed by round twenty administration firms with web property quantity to just about $55 billion,” stated Ms. Fettah throughout a convention initiated by the Affiliation of Moroccan Administration Firms and Funding Funds (ASFIM).
On the finish of 2022, UCITS maintain 34% of the excellent treasury payments (BDT) and 60% of the excellent personal debt, stated the minister who spoke by videoconference on the opening of this convention beneath the theme “Asset administration, a vector for mobilizing financial savings for higher improvement in Africa”.
By contributing to the financing of the wants of the treasury, she maintained, these organizations take part within the financing of social and sectoral public insurance policies along with the wants of financial brokers, thus selling the channeling of financial savings in direction of funding.
She additionally highlighted the efforts undertaken by the general public authorities in favor of the asset administration section, noting that the capital market has undergone a number of structural reforms as a part of the strategic imaginative and prescient of built-in improvement ready in session with the all market stakeholders.
And to emphasise that amongst these reforms is the strengthening of economic stability, notably the granting of elevated powers and technique of intervention and coordination to the supervisory authorities, the deepening of the capital market and the diversification of financing devices. supplied to issuers and buyers.
These reforms additionally goal to strengthen the regional and continental positioning of the capital market by way of the creation of Casablanca Finance Metropolis (CFC) as a monetary heart with continental attain, she continued.
Referring to the UCITS invoice, Ms. Fettah affirmed that this new overhaul mission will make it doable to boost the authorized system governing this trade to one of the best worldwide requirements, in accordance with the ideas of the Worldwide Group of Securities Commissions, by way of a collection of provisions which is able to enable, in continuity with the present framework, to strengthen the safety of safety holders, to higher supervise the train of UCITS administration exercise and to strengthen the technique of intervention of the AMMC in issues management.
The key new options of the overhaul of the authorized framework referring to asset administration will thus concern the operationalization of the itemizing of UCITS on the Casablanca inventory trade and the overview of the classification standards of UCITS, which is able to make doable the adoption of simplified working guidelines for UCITS reserved for certified buyers and the institution of participatory UCITS to increase the supply and entice extra capital, defined the federal government official.
On this sense, she highlighted the concerns to be taken into consideration to enhance the capital market, together with particularly the strengthening of economic training actions on the functioning of the market, adaptation to digitalization, the event of asset administration monitoring programs, and the research of the positioning of African actors so as to facilitate their adaptation to new challenges and adjustments.
The convention, which was held within the presence of Moroccan and worldwide consultants, professionals and regulators, was a chance to discover the newest developments in asset administration, and to evaluate the present outcomes and prospects for way forward for the sector. For its 2023 version, ASFIM has chosen to present an African dimension, by inviting numerous gamers within the sector to the continent.
This system contains interventions within the type of keynotes and spherical tables on a number of themes, together with: the challenges and alternatives of asset administration in Morocco, suggestions from asset administration in sub-Saharan Africa, the technological revolution and its impression on asset administration and eventually, ESG standards, an important pattern in asset administration.
Because the introduction of the primary UCITS in Morocco in 1995, the UCITS trade has skilled vital development to place itself as one of many principal gamers in amassing nationwide financial savings and contributing to the financing of the financial system. . On the identical time, asset administration in sub-Saharan Africa is booming, providing appreciable development and funding alternatives.
2024-06-03 21:35:47