Rate cut talk pushed February fund inflows to €19.4 bln
Morningstar on Monday posted its European asset flows data for February 2024, revealing significant investor interest in equity and fixed-income funds amidst anticipation of interest-rate cuts.
Europe-domiciled long-term funds reported net inflows of 19.4 billion euro during the month, with equity funds experiencing their second consecutive month of positive inflows, amounting to 5.1 billion euro. This growth was predominantly seen in passive equity funds, which attracted 19.1 billion euro, whereas active equity funds continued to see outflows.
Amundi takes fees down to 0.07% for its latest Ucits ETF
Amundi on Monday announced the expansion of its global equities offering with the launch of the Amundi Prime All Country World Ucits ETF, now listed on Xetra. The Paris-headquartered firm said its new fund aims to offer investors cost-efficient, highly-diversified equity exposure across both developed and emerging markets, boasting the lowest management fees for an all-country ETF on the European market at 0.07%.
Luxembourg flows into ESG funds reversed in 2023
The flow of money into sustainable investment funds, notably ESG funds, in Luxembourg significantly reversed last year when compared to a year earlier, according to data presented by the Belgian asset managers association Beama.
Transfer Thursday: Belfius, Fidelity
This week’s overview of transfers, appointments, promotions and other people news includes updates from Belfius, Fidelity International, BeLuThai, and the Luxembourg Press Council.
Sofie Geukens
Sofie Geukens (photo) will take on the role of head of alternative investments at Belgian bank Belfius from 1 April. She currently serves as the firm’s head of investment solutions and fund selection.
Bannier named EY’s wealth & asset management leader
Nicolas Bannier (photo) will succeed Christophe Wintgens as Wealth & Asset Management Leader at EY Luxembourg, effective 1 July 2024. Olivier Bertrand will take over from Dietmar Klos as Real Estate Leader, also commencing 1 July 2024.
M&G sees Eltif 2.0 opening up new era for private credit
The European Long-Term Investment Fund (Eltif) regulation, initially introduced in 2015, has been revamped to Eltif 2.0, entering into effect in January 2024. This revised regulation is poised to significantly influence the landscape of private credit investment in Europe, according to Michael George, lead portfolio manager of M&G’s Corporate Credit Opportunities Eltif Fund.
RBC Bluebay, Impax take Morningstar Luxembourg awards
RBC Bluebay has been named the top asset manager in Luxembourg, clinching the prestigious 2024 Morningstar Award for Investing Excellence.
Transfer Thursday: Waystone, Apex, Blackstone
This week’s overview of transfers, appointments, promotions and other people news includes updates from Waystone, Apex and Blackstone.
Alexandra Serban-Liebsch
Alexandra Serban-Liebsch (photo) has been appointed as the new head of business operations for Waystone Continental Europe, based in Luxembourg.
Key role for investment culture at ‘new’ Morningstar Awards
The anticipation for future outperformance plays an increasingly pivotal role in Morningstar’s methodology for bestowing its annual awards upon investment funds.
Alter Domus valued at €4.9 bln as Cinven takes majority stake
Luxembourg-based Alter Domus, one of the world’s biggest asset services firms, has secured a new strategic investment from London-based private equity firm Cinven. Alter Domus said the transaction will increase its value to 4.9 billion euros, which indicates that Cinven agreed to pay the firm’s existing shareholders - its founders and Permira - more than half of that amount.