Brown Brothers Harriman to support Schroders’ first Eltif
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.
‘Private markets have reached an inflection point’
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 rapporteur for funds law reform
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.
Luxembourg’s financial sector set for wider adoption of AI
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.
CSSF adopts flexible deadline for SFDR data reporting
Luxembourg financial supervisor CSSF on Thursday announced a more flexible deadline for filing reports on marketing materials in relation to the EU’s Sustainable Finance Disclosure Regulation, or SFDR.
‘Inflation outlook continues to be too high for too long’
The European Central Bank on Thursday began to slow down its pace of rate hikes, announcing an increase of 25 basis points following seven back-to-back increases of 50 basis points. The ECB said that underlying price pressures in the 20 Eurozone countries remain strong.
Banque Havilland sells custody unit in private banking refocus
Banque Havilland, a Luxembourg private bank owned by British property developer David John Rowland, has sold its depository and custody business for an undisclosed amount to Spain’s Banco Inversis as part of a new strategy in which it fully focuses on private banking.
ECB seen hiking 25 bp as policy impact becomes clear
A fresh flash estimate for inflation in the 20 eurozone countries and the latest ECB bank lending data shows that higher interest rates are slowing down economic growth in Europe, fuelling expectations among fixed income analysts and economists of a smaller rate increase of 25 basis points - following six consecutive hikes of 50 basis points - when the ECB’s monetary policy decides is next step on Thursday.
Blackstone fund accepts less than one third of redemptions
The Blackstone Real Estate Income Trust, one of the world’s largest property investment funds, in April accepted 29 per cent of 4.5 billion dollars worth in redemption requests. The fund told investors on Monday that it decided to fulfil 1.3 billion, less than a third, of these requests to sell.
Luxembourg to modernise fund laws under Bill 8183
Luxembourg is set to modernise its legislation for investment funds under a proposal that will first be discussed later this week in the grand duchy’s parliament. The bill seeks to improve the various structuring options for investment funds.
The parliament budget and finance committee on Friday will discuss Bill 8183, which was submitted at the end of March. At the 5 May meeting the committee is due to appoint a rapporteur who will coordinate the legislation.