WFIC - World Federation of Investors Corporation

The World Federation of Investors is an independent, not-for-profit organization whose members are primarily national shareholders' associations. WFI was formed to promote investor education and shareholder advocacy. WFI helps national shareholders associations and investor advocacy groups better serve their members. more

Vienna, Austria

The 2022 WFI Annual Conference and General Assembly took place on September 30th in Ghent.

This year we returned to our roots, and held the event at our heagdquarters, hosted by President and Secretary General Jean-Pierre Paelinck.

We were joined by Jella Benna-Heinacher, recently appointed chair of Better Finance. Jella updated us on the association's activities and plans for the coming years.

For the dinner on Thursday we were delighted to welcome Luc Vansteenkiste, chair of EuropeanIssuers, as guest speaker.

Please see the Invitation and Programme.

2021 WFI ANNUAL CONGRESS — Bled, Slovenia

Bled Invitation

The 2021 WFI Annual Congress was held on June 11-14 September 2021 in beautiful Bled. The event took place under the umbrella of the VZMD and Better Finance International Investors' Conference, and we were guests of VZMD and WFI Executive Committee member Kristjan Verbic.

The conference, held under the auspices of the Slovenian presidency of the European Union, delivered a packed and highly relevant agenda.

We also enjoyed organised tours to Ljubliana and to the wine region of Nova Gorica.

The Federation thanks Krisjan Verbic and VZMD for their excellent organisation and hospitality in hosting the meeting.

See the Bled Agenda for more details.


Vienna, Austria

Regrettably, the WFI Annual Conference and General Assembly scheduled for April 23-25, 2020 in Vienna had to be cancelled due to covid-19.

Please see the Update from the Executive Committee.

2019 WFI ANNUAL CONGRESS — Beruit, Lebanon

Our 2019 Annual Congress was held on June 27-30 2019 in Beirut, Lebanon.

Beirut is one of the oldest cities in the world, dating back to the 15th century BC. WFI Director Me. Hachem Boulos, Avocat, and Chairman of the WFI Advocacy Committee was our host.

WFI and Better Finance jointly sponsored an international conference "Conduct of Investment Rules in the EU and Worldwide" on June 28. A joint dinner meeting took place on June 27.

We enjoyed amazing cultural tours on June 29-30, taking in the wonders of Baalbek, the beauty of the Beqaa valley, and the Church of Our Lady of Lebanon.

The Federation thanks Hachem Boulos and his family for their excellent hospitality and huge generosity in hosting the meeting.

See the Beirut Agenda for more details.



WFI Award for Achievement to Roger H. GanserWORLD FEDERATION of INVESTORS
Award for Achievement
For distinguished service in the field of global investor education.

Photos: Past Chairman Lars-Erik Forsgärdh (Sweden) presenting the plaque to Roger Ganser. The ceramic plaque was sourced by director Ayse Findik (Turkey).


2018 WFI ANNUAL CONGRESS — Paris, France WFI and WFYI Attendees,Paris, France

Photo: WFI and WFYI Attendees at the Bell Ceremony Opening at the Euronext Exchange in Paris

The WFI Annual Congress celebrated the 50th Anniversary of F2iC and welcomed the participation of the WFYIC.

WFI thanks Anthony Attia and Euronext for providing an excellent venue for our event. Charles-Henri d'Auvigny, President, and Aldo Sicurani, Délégué Général, of the French Federation of Individual Investors and Clubs was our host. As usual, it was a celebration in the true French tradition where we could comfortably engage each other and have wonderful food while we enjoyed and experienced the lovely city and its gracious hospitality.



Volkswagen AG

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DSW Investor Conference

WFI Officers at DSW Investor Conference in Wiesbaden

WFI officers attending the DSW Investor Conference in Wiesbaden (L-R): Henning Wegener, Wilfried Hüebscher, Jean-Piere Paelinch, Lars-Erik Forsgärdh.


Like most of our members have experienced, shareholding among French households has declined since 2008, despite the improved performance of the stock market. Many theories have been put forward to explain this phenomenon, both by the media and by financial institutions. But are these explanations correct? Should we be satisfied with explaining this decline through the fear of losses, which would continue to give cause for concern in the minds of French people regarding financial crises?

Faced with explanations based simply on feelings or supposition, Luc Arrondel and André Masson decided to undertake academic research and carry out a long-term survey among French households. Their article allows us to grasp the differences, which may seem tenuous at first sight but are nonetheless crucial, between risk aversion and risk tolerance, changing preferences, trust in institutions, and expectations regarding performance. It also corrects some common misconceptions, such as the idea that household savings have shifted towards specific types of investment. The insights provided by the researchers prove that the ideas put forward to explain household behavior in relation to the stock market are often simplistic, if not erroneous.

A better understanding of the causes of and reasons for the loss of interest in shares offers us a chance to curb this phenomenon. Depriving businesses of this source of financing is in fact damaging to the economy as a whole. Here again, the study may surprise the reader, for it reveals the shortcomings of the most commonly proposed solutions for reorienting savings towards the markets. Take, for example, the widely held view within financial circles and public institutions that improving financial education would favor shareholding. Improved financial education would only be a palliative measure incapable, by itself, of changing the current situation. In order to alter it, we need to look for other solutions and canvass other initiatives. Rather than focusing solely on motivations characteristic of households, the financial sector would benefit from asking what its responsibility might be for the loss of interest in shares and risky investments.

The financial community is not, however, wholly responsible for this situation, and one of the conclusions of the study is that all actors should be involved, especially the public authorities, in remedying the lack of interest in share ownership on the part of individuals.

You can request the complete study in French/English by contacting Aldo Sicurani at


Personal investing in equity as a way of forming wealth should be promoted, since it enables individual investors to participate in the growth of business and thereby in the progress of nations and the world economy. Access to their own investment capital in stocks increases individuals' freedom of action and improves their chances of weathering financial difficulties. Private share ownership thus enriches the individual in a number of ways.

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WFI Gala Dinner in Milano, Italy

Perfomers at WFI 2015 Annual Meeting

Frank Kaneko, honorary member of the Executive Committee and Emeritus Vice-President of WFI.

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