Investment Officer

Francesca McDonagh will join Frankfurt-headquartered Universal Investment Group as its new group chief executive officer from January, the firm has announced. McDonagh, 48, previously served as group chief operating officer at Credit Suisse and as CEO at Bank of Ireland.

The Financial Conduct Authority (FCA), the UK’s financial supervisor, plans to introduce a new overseas funds regime in April next year, as part of Britain’s post-Brexit framework for authorising non-UK investment funds to reach British investors. It plans a consultation before the regime takes effect.

Luxembourg’s alternative investment funds (AIFs) continued to show resilience and growth last year, even amid economic headwinds, navigating economic challenges with private equity funds at the forefront of market momentum, according to the latest annual market overview by the Grand Duchy’s financial supervisor.

Investment fund costs for both retail investors and institutions have become more volatile in 2022, according to data analysed by London-based Fitz Partners.

About one third - or 35 percent - of funds whose fees were changed last year have witnessed an increase in their charges to investors, with institutional equity funds leading the charge, according to data on around 40,000 fund share classes analysed by Fitz.

This week’s overview of transfers, appointments and promotions includes updates from Linklaters, Allianz Global Investors and La Française.

Luxembourg and the Cayman Islands are the two most popular fund domiciles for private credit fund managers, according to research by the Alternative Credit Council and law firm Dechert LLP. The Luxembourg Reserved Alternative Investment Fund (Raif) emerged as the preferred vehicle to invest in EU-based private credit assets.

This week’s overview of transfers, appointments and promotions includes updates from Universal Investment Group, Luxempart, Intreal Luxembourg and Apex Group.

Quintet Private Bank, based in Luxembourg, has forged a partnership with Berlin-based digital investment platform Moonfare. The alliance aims to bolster Quintet’s private-market offerings to select clients while extending Moonfare’s distribution reach.

A new study has ranked Luxembourg as the 4th best OECD country for a sustainable business startup. Switzerland, the United Kingdom and Sweden take the three podium places.

The study by Utility Bidder, a UK energy consultancy for businesses, shows that Luxembourg, with a score of 6.33 out of 10,  has a relatively high number of startups as measured against its population, takes the top spot in eco-friendly commuting and scores top place when measuring carbon emissions per capita.

The rapid escalation of hostilities between Hamas and Israel has triggered a significant rise in crude oil prices. Whether broad market volatility will follow depends on Iran.  

The most immediate impact on the market by the unexpected flare-up of violence in Israel, which began Saturday on the seventh and last day of Jewish Sukkot celebrations, was observed in oil markets.