|Key people||Michel Maquil, Chairman
Dominique Valschaerts, CEO
Finesti is a Luxembourg-based company that carries out collection, management and dissemination of data and documents related to investment funds. It also provides general consultation products and services in order to facilitate public access to investment fund information.
The majority of the information on investment funds that is collected and disseminated by Finesti is derived from Luxembourg-domiciled funds, although it is also active in collecting data and documents from funds in other European countries. As at December 2008, its database contained data and documents on around 31,000 share classes of investment funds.
Data and documents are collected from fund administrators and promoters. They are then repackaged into dissemination products for data vendors and other users of bulk data. Information collected is also made available on its website.
Company History and Organisation
The company was created in April 1995, as CCLux (Centrale de Communications Luxembourg S.A.), by the Association of the Luxembourg Fund Industry (ALFI), the Luxembourg Stock Exchange and around thirty Luxembourg financial institutions. It become a wholly owned subsidiary of the Luxembourg Stock Exchange in May 2002.
On 28 January 2009, it changed its name to Finesti. It shares infrastructure and resources with the Luxembourg Stock Exchange and, in particular, it shares a secure transmission platform, known as e-file.lu.
The e-file.lu platform is used for transmission of fund regulatory reports and other fund documents, such as prospectuses and annual and semi-annual reports, to the Luxembourg financial regulator, the CSSF, and the Central Bank of Luxembourg. Finesti has been mandated by these authorities to provide these services.
In addition to this platform, it also runs an in-house collection platform, known as the Finesti Station, for the collection of other types of data from investment fund administrators.
Finesti and a Danish company called FundConnect have been mandated by the European Fund and Asset Management Association (EFAMA) to be joint Classification Administrators of its European Fund Classification (EFC) with the mission to implement the EFC on a pan-European basis.
The company is also active in the provision of Fund Processing Passports, short full harmonized documents containing all key operational information to facilitate investment fund processing within Europe.
Finesti also provides data services for the Luxembourg Fund Labelling Agency (LuxFLAG), an organisation providing information on microfinance investment vehicles.