Assets in Luxembourg-domiciled UCIs reached their highest level since January, according to figures published by the CSSF. Total assets rose by 1.72% to reach €4.7 trillion at the end of August.
This means assets in Luxembourg-domiciled funds have risen by €547 billion, or roughly 13%, since the end of March when they hit a multi-year low. Assets of US and global equity funds rose most in August, while assets in all bond funds except high-yield bond funds declined.
Even as assets in Luxembourg-domiciled funds have fluctuated strongly this year, this is not the case for the number of funds which has been slowly but steadily declining for a number of years. At the end of August, Luxembourg-domiciled funds numbered 3655, a decline of 345 funds since December 2017. The decline has been strongest for alternative investment funds (UCIs part II), which saw their number decline by a quarter to 245 funds at the end of August. Alternative investment funds were also the only category which saw their assets decline over the period.