Investment Officer

Dutch pension funds, a major category of investors in global markets and clients to many Luxembourg real estate funds, last year suffered losses on their real estate investments after many years of rising values. Their investments in real estate funds, however,  delivered positive numbers.

Negative global market sentiment against Swiss bank Credit Suisse meant Europe’s banking sector was under fire again on Wednesday, leading up to a evening statement by Swiss supervisors saying that they will commit liquidity to the bank.  The bank then said it plans to move swiftly to create “a smaller and more focused bank”.

“If necessary, the SNB will provide CS with liquidity,” the Swiss National Bank and regulator Finma said last night. 

Europe’s biggest asset manager Amundi on Tuesday said it does not believe that the collapse of Silicon Valley Bank and the ensuing US banking crisis is an event that poses a systemic threat.

In a note to investors, Amundi’s top investment team, including Monica Defend (photo), Vincent Mortier and Matteo Germano, noted that the European banking sector “is in far better shape” than in the 2008 financial crisis. Nevertheless, they urged investors to watch out for areas of vulnerability. 

Laurent Cooreman on Monday was appointed as chief executive officer at Belair House, the real-estate focused family office unit of Banque Internationale à Luxembourg, also known as BIL.

A solid balance sheet structure will help European banks buffer stressed market conditions following the collapse of their US peers Silicon Valley Bank, Signature Bank and Silvergate Bank, credit agency Moody’s said. 

Consulting and accounting firm PwC Luxembourg has announced its new “country leadership team” after a vote by the firm’s partners on 10 February 2023.

Inflows into global equity and bond ETFs have been declining for five months in a row, and for the first time since March 2018, money flowed out of US equity ETFs for two consecutive months.

A decision by consultancy EY to split its business into separate entities for audit services and management consultancy has been pushed back to later this year because of the “complexity” of Project Everest, as the plan is internally known.

EY Luxembourg said it remains committed to the ambitious plan.

The Association of the Luxembourg Fund Industry, the grand duchy’s leading fund and asset management association known as Alfi, turns 35 this year. It’s a milestone to be marked at its upcoming European Asset Management conference on Tuesday 21 and Wednesday 22 March. 

While interest rates in the bond market are rising uninhibitedly, the stock market may be in a dead-cat bounce, or a “sucker-rally”. Some market specialists do not trust the rally and declare equities “a lost cause”. In terms of allocations, the traditional appeal of a 60-40 portfolio appears to make a comeback now that the ‘earnings yield spread’ between stocks and bonds is narrowing.