Investment Officer

DWS, the asset management subsidiary of Deutsche Bank, finds itself in hot water with the Securities and Exchange Commission (SEC). The investment management giant has been charged on two fronts: making misleading claims about its Environmental, Social, and Governance (ESG) investment practices and lacking a robust Anti-Money Laundering (AML) framework. To settle these charges, DWS will be parting with 25 million dollars in penalties.

In the world of technology and innovation, few names command as much respect as Geoffrey Hinton, often dubbed the “Godfather of AI.” However, recent remarks from this AI luminary have sparked a heated debate on the role of artificial intelligence in our society. Monday’s FondsEvent conference by Investment Officer delved into the heart of this debate.

This week’s overview of transfers and appointments includes appointments at Apex Group and at EY.

Stephen Geddes

Stephen Geddes (photo) has been appointed as regional head for the United Kingdom at global asset services provider Apex Group.  He joined Apex from Mainspring Fund Services, where he was the founder and CEO. Apex acquired Mainspring in September last year.

Federal Reserve Chairman Jerome Powell’s recent announcement that U.S. interest rates will hold steady at 5.25% to 5.5% has sparked a debate among investment professionals about what would be best for asset owners: a “soft landing” or a full-blown recession?

FE fundinfo, a Luxembourg-based specialist in fund information, has announced the acquisition of Paris-based firm Adjuto. The move aims to bolster its fee and distribution channel management solutions. Financial details were not disclosed.

Monex Europe S.A., a commercial foreign exchange specialist, has relocated to a larger office in downtown Luxembourg to accommodate its growth and future expansion plans and ambitions to expand its services in private equity and investment funds.

The 29th edition of the Monterey Insight Luxembourg Fund Report reveals that unregulated funds are outperforming their regulated counterparts in a big way, signalling a potential paradigm shift for the Grand Duchy. Unregulated funds, especially reserved alternative investment funds (Raifs), have seen a surge in asset value. Raifs alone have increased their assets to the equivalent of 458.4 billion dollars, marking a 38.6% rise from last year’s 330.8 billion dollars, said Monterey.

As Puilaetco, a subsidiary of Luxembourg-headquartered Quintet, nears the final stages of a high-profile partnership with BlackRock, the world’s largest asset manager, the Belgian private bank is setting ambitious, forward-looking objectives. The collaboration aims to tap into next-generation wealth management, with new services expected to roll out in Q1 2024.

Performance of Bridgewater Associates’ flagship Pure Alpha Fund falls short, raising speculation that the hedge fund’s founder, Ray Dalio, may come out of retirement to regain control, much to the dismay of the new CEO.

Although Dalio retired in 2022, he retained the contractual right to take back control of Bridgewater Associates, the world’s largest hedge fund, if its performance lags.

Hamburg-based private bank M. M. Warburg & Co has announced the launch of its first real estate debt fund, WB Urban Real Estate Finance I, a Luxembourg-registered reserved alternative investment fund, or Raif, for institutional investors. The fund targets raising some 300 million euro, with initial seed financing of 86 million.