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
2019 ANNUAL CONGRESS — Beruit, Lebanon

2019 Annual Congress, Beruit Our 2019 Annual Congress will be held on June 27-30 in Beruit, Lebanon.

Beruit is one of the oldest cities in the world, having been inhabited for more than 5,000 years, dating back to the 15th century BC. Director Me. Hachem Boulos, Avocat, and Chairman of the WFI Advocacy Committee is our host. WFI and Better Finance will jointly sponsor the joint international conference "Conduct of Investment Rules in the EU and Worldwide" on June 28. Likewise, a joint dinner meeting is scheduled for June 27, with cultural tours on June 29-30. See the Beruit Agenda for more details.


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.

The Congress had two themes:

• The future for investment clubs.
• How to reach and support underserved but emerging markets.

WFI President Jean-Pierre Paelinck reported that at a recent meeting of the International Organization of Securities Commissions, the conclusion was that basic financial information had to be taught because of the risk associated with certain financial intermediaries. Individual members reported on activities and conditions in their respective country.

Mark Northway, Chairman of ShareSoc (UK), was elected Vice-President of WFI and paid tribute to Frank Kaneko for his many years of service.

F2iC and New Savers,Paris, France

Photo (Above Left): Charles-Henri d'Auvigny,
President of F2iC, our host, welcoming WFI to Paris

Photo (Above Right): Paolo Brambilla, President of New Savers, Italy, addressing the WFI Congress attendees

Paris, France

Photo: Katherine Naherny, Elizabet Forsgärdh, Hedwine Ghuys Paelinck enjoying WFI's Paris cultural tour



Volkswagen AG

The Foundation informed participants who registered directly with Stichting Volkswagen Investors Claim first time in the summer of 2016 and warned since the middle of November 2018 about the critical statute of limitations deadline. Furthermore, the Foundation recommended to join the action of Fortress/Nieding+Barth/Hausfeld/DSW or take actions to preserve the claim from getting time barred before the year 2018 ends.

The statute of limitations expired at the end of 2018 so the SVWIC enters into a new phase. Prescription has set in and new judicial proceedings are now foreclosed. The VW management can – and must – now assess the risks of multiple judgments in favor of the damaged investors. This also means that Stichting and the law firms that handle the law suits have to agree on a new strategy. Our common goal remains achieving an early and successful settlement with VW management and the components of the VW group.

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


The F2iC is a 50-year-old nonprofit organization whose mission is to promote long-term investing. It aims to give the French a taste for risk and entrepreneurship, influence the political debate and redirect it to promote long-term risk taking, enhance investors' protection and education in economic and financial matters, and help develop the presence of individual shareholders.

Aldo Sicurani, Managing Director, and WFI Treasurer


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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