AFG-ASFFI: Association Française de la Gestion Financière (French Asset Management Association).
AFG-ASFFI is the professional body for asset management on behalf of third parties (individual, institutional or collective management). It’s members are drawn from all areas of the asset management industry and it has a twofold mission of representing the industry and providing it with permanent assistance. (www.afg-asffi.com)
Alpha: indicates the additional performance generated by the fund compared to that of its reference index. A high level of alpha points to a good level of performance for the fund compared to the market.
AMF: The Autorité des marchés financiers established by the Financial Security Act of 1 August 2003. It was formed from the merger of the Commission des opérations de bourse (COB), the Conseil des marchés financiers (CMF) and the Conseil de discipline de la gestion financière (CDGF).
The objective in amalgamating these bodies was to improve the efficiency of France’s financial regulatory system and to give it greater visibility.
The AMF is an independent public body with legal personality and financial autonomy. Its remit is to:
- safeguard investments in financial instruments and in all other savings and investment vehicles
- ensure that investors receive material information
- maintain orderly financial markets
Asset Manager ratings (Refer: Fitch-AMR): These aim to evaluate the capacity of an asset manager to meet the expectations of institutional investors in relation to the delegation of their asset management. This rating provides an assessment of the control of the risks inherent to the activities of asset management by the asset manager. The ratings produced are mainly qualitative and are based on information provided by the asset manager and its management. The rating process is based on a review, that is not an audit. This review focuses on the organisation, its independence, communication, management processes and risk management. The ratings allocated are measured with the assistance of a scale that comprises 14 ratings, extending from 'aaa' to 'b-'.
