Investment Officer

Technical standards with which sustainability information must comply are becoming clearer as far as the European supervisory authorities are concerned. They published a comprehensive consultation paper with a high level of detail and many calculation formulae on the level 2 implementation of the EU’s Sustainable Finance Disclosure Directive, or SFDR. The industry can propose amendments up to 4 July.

Europe’s top regulator for securities and financial markets on Wednesday said it believes there is a need for EU-level legislation to make sure investors do not bear costs that are considered excessive, unnecessary, or unreasonable when they put their money in investment funds.

European Fund Administration, the Luxembourg-based asset services unit of Frankfurt-headquartered management company Universal Investment, on Monday said it is rebranding to “efa”, as part of its integration journey into Universal Investment.

Since its inception in 1996, European Fund Administration has expanded its services and client base in Europe and elsewhere in the world. Its original acronym, designed as a symbol for quality, trust, and reliability in the fund industry, will cease to be an acronym and become the name of the company, the firm said.

The European Court of Auditors, the EU’s top body designed to improve financial management in the European Union, has criticised the European Central Bank for failing to properly supervise the 110 largest financial institutions in the Eurozone.

Franklin Templeton on Monday said that all 21 Ucits ETFs from its Icav range have become available to Luxembourg investors in response to growing client demand for ETF solutions.

The US debt ceiling seems to be an endless source of political wrangling, with parties blaming each other and threatening economic chaos. One would almost forget that debt repayment is not up for debate. Not even in the US.

“President Biden is driving America towards its first-ever default, and no one but him will be blamed,” shouts a television ad from the Republican advocacy organisation American Action Network.

Brown Brothers Harriman (Luxembourg) S.C.A. said on Thursday it has been selected by Schroders Capital as central administrator and depositary bank for the launch of its first European Long-Term Investment Fund, or Eltif.

The upcoming arrival of retail investors in private markets, combined with  economic headwinds and the need for technological innovation, have placed all private asset classes at an inflection point from where institutional parties need to make significant investments in efficiency, technology and skills, said a State Street report released on Monday.

André Bauler, member of the Luxembourg parliament for the Democratic Party, on Friday was appointed by the parliament’s finance and budget committee to coordinate the different political positions for the upcoming discussions on a proposal to update the grand duchy’s investment fund laws.

Although usage of artificial intelligence in the Luxembourg financial sector is currently fairly limited and still at an early stage, the grand duchy is set for wider adoption of artificial intelligence in the near future, according to a survey carried out by BCL, the central bank, and financial supervisor CSSF.