Investment Officer

Luxembourg financial regulator CSSF today announced that it had found “satisfactory” both market participants’ understanding of the risks of AML/CFT activities and the related mitigation measures that they had put into place, in a recent thematic review of money-laundering or terrorism financing checks by its on-site inspection unit.

Luxempart, a private equity firm listed on the Luxembourg bourse, said on Thursday that it has generated a “significant” investment return by selling the bulk of its stake in Swiss diagnostic radiology firm Rimed to diagnostic services provider Unilabs.

A Kenya-based fintech-agritech firm called Hello Tractor has emerged as the winner of the fifth edition of Catapult: Inclusion Africa, a week-long financial inclusion bootcamp that is part of an accelerator programme developed by the Luxembourg House of Financial Technology.

Chances of a real turn in short-term interest rate policy seem to have been squandered since yesterday. According to specialists at Aegon AM, PGIM and T. Rowe Price, interest rates will remain high for several more quarters. A quick reversal in interest rate policy is unlikely. So is an early return to “normal” .

Following regulatory approval, Apex Group has completed its acquisition of Darwin Depositary Services, an Amsterdam-based provider of depositary services to alternative investment funds, the company announced this morning. Financial details were not disclosed.

While equities will remain a dominant feature of sustainable investment portfolios, multi-asset and alternative strategies are expected to gain ground in the coming years. A new survey conducted among European investors shows that they expect their allocation to equities will decrease by two percent over the next five years, while their allocation to multi-asset and alternative funds will rise by two percent.

Samuel Kuborn is joining investor services firm IQ-EQ in a new role of regional chief operating officer, continental Europe, the firm announced on Wednesday.

Apex Group, a global financial services company with a major presence in Luxembourg, said on Wednesday that it has closed its acquisition of Implemented Investment Solutions, or IIS, and InvestNow in New Zealand.  Financial details were not disclosed.

Following Apex Group’s entry into the New Zealand market with the recent addition of MMC, the acquisitions of IIS and InvestNow further expand Apex Group’s presence in New Zealand and Australia to over 500 employees.

Stefano Amato has joined M&G Investments as a senior fund manager in the multi asset team. Amato, who joins from Santander, will co-manage the 1.1 billion euro M&G (Lux)  Income Allocation Fund alongside Steven Andrew to whom he will report. 

Luxembourg financial supervisor CSSF, a long-time ally for Luxembourg’s booming fund industry, is drawing reluctant criticism from some people in the sector over its recently announced initiative to review pricing mechanisms for Ucits and AIF investment funds. Responding to press questions in this context, the finance ministry signalled that “certain features” of Luxembourg’s fund legislation will be modernised “in the near future”.