News

Financial markets are reacting with both trepidation and anticipation to Donald Trump’s victory in the 2024 US presidential election. The so-called ‘Red Sweep,’ which also sees Republicans take control of Congress, has investors bracing for substantial shifts in the US economic and political agenda.

UBS Asset Management has expanded its digital asset capabilities with the launch of the “UBS USD Money Market Investment Fund Token” (uMINT), a tokenised money market product built on Ethereum’s distributed ledger.

Luxembourg’s financial regulator CSSF has delivered a sharp warning to the country’s Investment Fund Managers (IFMs) regarding weaknesses in oversight practices when delegating portfolio management. The CSSF’s latest review highlights specific shortcomings, particularly in conflict of interest management and contingency planning, that could expose IFMs to regulatory risk and potential operational failures.

A narrow victory for Kamala Harris in the U.S. election could stir up significant market turbulence. Trump appears unwilling to concede, and his resistance might disrupt the current rally. It wouldn’t be the first time.

Franklin Templeton has secured approval from Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), to launch the first fully tokenised UCITS fund in the country.

LuxFlag’s Sustainability Investment Week (LSIW24) kicked off on Tuesday, with several speakers sharing their relative optimism around commitments to ESG and impact investing.

Czech Banka Creditas has made a binding takeover bid for the Maltese group over online bank MeDirect. Behind Banka Creditas is relatively unknown billionaire Pavel Hubáček.

Ireland’s decision not to introduce its own version of Luxembourg’s highly successful Reserved Alternative Investment Fund (Raif) signals a cautious approach in the global race for private market leadership and reflects concerns over potential problems with liquidity and valuations in this market.

The annual Luxembourg Private Equity Association (LPEA) Insights Conference drew over 1,000 professionals to the Grand Duchy this year, underscoring the nation’s status as the largest global private markets hub outside the United States.

Luxembourg and London reaffirmed their complementary roles in asset management and green finance, with leaders stressing the importance of collaboration on sustainability, digital transformation, and post-Brexit resilience.