Asset Managers

About 85 percent of Europe’s asset management activity takes place in six countries: the United Kingdom, France, Switzerland, Germany, the Netherlands and Italy, data from Efama’s 2023 Asset Management Report shows.

Kristina Hooper, chief strategist at Invesco, understands that the endless debating about interest rates seems a bit excessive, “but back in the day, investors had to guess what was going to happen to interest rates by looking at the thickness of Alan Greenspan’s briefcase”.

Goldman Sachs Asset Management wants to use more engagement to encourage companies, institutions and governments to improve sustainability reporting. “Especially on the fixed-income side, there is still a lot of room for improvement in terms of data quality and disclosure,” said Edith Siermann, chief investment officer of Goldman Sachs Asset Management b.v.

This week’s overview of transfers, appointments, promotions and other people news includes updates from DWS and Candriam.

Luxembourg-headquartered asset manager Candriam on Wednesday announced the launch of a new alternative investments platform as a response to growing demand for diverse alternative investment solutions in today’s market environment.

In a world grappling with economic fragmentation, geopolitical tensions, and inflationary pressures, chief investment officers at Europe’s three largest asset managers – Amundi, DWS, and Schroders – see 2024 as a year poised for cautious optimism amid ongoing economic uncertainty. 

Market expectations of central bank interest rate cuts in 2024 are reasonable, according to Gilles Moëc, the Axa group chief economist and Axa IM head of research, who presented Axa’s outlook for next year in Luxembourg this week. He painted a relatively rosy picture for the US and, to a lesser extent, stagnating Europe, pointing to evidence that inflation is finally under control and that political troubles are not yet certain.

BlackRock, during the presentation of its 2024 Global Outlook at its New York headquarters, indicated that the Federal Reserve is unlikely to cut interest rates until the second half of next year, a scenario the market currently sees as highly improbable. This divergence in expectations set the stage for the event, titled “Context is Everything”, where the asset manager shared its strategic insights. 

After a previous setback, BlackRock is launching new target-date ETFs, aiming at the vast market of Americans without pension plans, a move seen as promising for the self-employed.

BlackRock is reviving its target-date fund ETF series with a fresh approach, targeting the trillion-dollar market of Americans lacking pension plans, nine years after its initial failure.

Raifs - Reserved Alternative Investment Funds - are becoming an increasingly popular way to structure Reifs - Real Estate Investment Funds - with Raifs constituting 31 percent of the funds recently surveyed. The growth comes at the expense of SIFs - Specialised Investment Funds - while the share of Sicavs remains stable.

The 17th edition of the real estate investment fund survey carried out by the Association of the Luxembourg Fund Industry, Alfi, was released this week.