New LSFI working groups to address ESG challenges
The Luxembourg Sustainable Finance Initiative, a public-private body known as LSFI, has decided to create four new working groups to help the industry better come to grips with challenges posed by Environmental, Social and Governance issues.
Crestbridge appoints Grave as country head Luxembourg
Jersey-based management company Crestbridge said it has appointed Anne Catherine Grave as country head of Luxembourg. The firm has been active in the Grand Duchy since 2010.
Grave will be responsible for leading the business in the region and will provide administrative, accounting, reporting, residency, and governance needs to a broad range of fund structures. She will be based in Luxembourg. Grave has more than 20 years’ experience in the private equity and real estate sectors.
Esma sees room to improve prospectus approvals
A European screening exercise of prospectus approvals that involved Luxembourg’s financial supervisor CSSF has concluded that EU regulators need to be more efficient in their assessments and that more clarity needs to be provided on the use of “additional criteria” that national supervisors apply.
Eqonex picks Apex for admin and trustee services
Apex Group on Monday said it has been appointed to provide corporate, administrative and trustee services to the Nasdaq-listed Luxembourg platform of Eqonex Limited, a digital assets financial services company. Eqonex recently launched an Exchange Traded Note in bitcoin on Frankfurt’s Xetra market.
‘Analysts overly upbeat on corporate profits’
Barely seven of the first 35 companies in the US S&P 500 index to release their second-quarter results subsequently have raised their earnings per share forecast for the third quarter. Are earnings expectations and analysts still too optimistic?
Some 77 percent of those companies saw their Q3 2022 expectations revised downwards. The average estimated change is -3.0 percent, according to The Earnings Scout.
Fitch affirms AAA rating for Luxembourg
Ratings agency Fitch Ratings has affirmed its assessment of Luxembourg’s government debt with a ‘AAA’ rating and a stable outlook.
Altis survey: ESG integration is more than a paper tiger
When it comes to ESG, those who confine themselves to the paper reality may believe that asset managers are becoming increasingly similar. Those who look deeper however see a different picture: European asset managers not only remain in the lead, but are also converting their paper promises into actual ESG integration.
High yield promising, if you believe in a snappy recession
As US companies revise their earnings forecasts en masse and fears of recession-induced defaults increase, some investors feel it’s a good moment to get into high yield corporate debt. The key question: what will be the nature of the upcoming recession?
“A rare opportunity to get into high yield,” noted bond strategist David Furey of State Street Global Advisors in a market review last week. “A fantastic buying opportunity for US high yield,” said Dutch investment advisory firm Candoris.
Gramegna, Leao tied for ESM top job after Italy bows out
Eurogroup finance ministers on Monday again failed to agree on naming the successor for Klaus Regling as chief of the European Stability Mechanism even after Italy withdrew the candidacy of European Commission official Marco Buti.
Neither the Luxembourg nor Portuguese candidate managed to win the required 80 percent majority in the vote that followed Italy’s withdrawal. Eurogroup president Paschal Donohoe said that the next vote now will take place in September. Regling is set to retire in October.
Goldman Sachs announces new roles for NN IP directors
Goldman Sachs Asset Management, which officially took ownership of NN Investment Partners at the beginning of this year, on Wednesday announced a number of changes at the top of the Dutch-based asset manager. Valentijn van Nieuwenhuijzen, NN IP’s current chief investment officer, has been appointed global head of sustainability for public investing.