Strong growth for Q Securities as banks cut depositaries
Marking its first anniversary in Luxembourg, Warsaw-headquartered depositary services firm Q Securities on Wednesday said that it is aiming for 30 alternative funds as clients by this end of the year and 50 funds next year, up from the 20 it has onboarded in its first 12 months in the grand duchy.
Fondsevent: Europe risks losing out in ‘the big game’
“Europe does not use its single market enough as a political lever and militarily the continent does not amount to much. Our democracy and free market will be besieged on all sides. Meanwhile, the West’s willingness to protect our way of life is extremely limited. If we do nothing, we will remain a weakling in ‘the big game’.”
Insurers seek resilience in private equity, survey shows
Global insurers are diversifying their portfolios and most of them - 87 percent - plan to increase allocations to private investments over the next two years, which would represent a three percent average increase versus their current allocation, Blackrock’s latest global insurance survey shows.
Pictet Asset Services launches new ESG reporting platform
Pictet Asset Services, the asset servicing business line of the Switzerland-based Pictet Group, has launched a new platform where its clients and asset managers can monitor ESG risk exposures.
The platform enables external asset managers and institutional clients to monitor their portfolios’ ESG risks with a detailed environmental, social and governance risk analysis as well as carbon and physical risk analysis.
OECD: more rate hikes needed as war slows world economy
The world economy is slowing down at a faster pace than expected as a result of the consequences of Russia’s war against Ukraine, the Organisation for Economic Cooperation and Development, or OECD, said on Monday. Further interest rate increases are needed in most major economies to halt inflation, it said.
IO Talks podcast: ALFI’s Lamesch on alternatives, ESG
This IO Talks Luxembourg podcast episode with Corrine Lamesch, chair of the Association of the Luxembourg Fund Industry (ALFI), sheds light on the growing popularity of alternative investments in Luxembourg, addresses the complexity of ESG and sustainable finance regulation, and hears about the role of the grand duchy as a global distribution centre for financial products.
Unregulated Luxembourg funds shows biggest growth
Unregulated investment funds in Luxembourg, in particular Reserved Alternative Investment Funds known Raifs, showed the biggest increase the Grand Duchy’s fund industry last year. According to the latest Monterey Insight report, the value of these funds increased 71.4 percent last year to some 330.8 billion euro.
Other unregulated funds, such as LuxLPs and Soparfi’s, reached a value of 470 billion at the end of 2021. That is an increase of 61.5 percent in assets.
Amundi sees opportunity if Italy spread hits 300 bp
Top market experts at Europe’s biggest fund manager, Amundi, do not believe that the upcoming elections in Italy will trigger much volatility in Italian bond markets, although a spike could present a buying opportunity. Italy’s parliamentary elections are scheduled for the end of this week, Sunday 25 September.
CSSF finds AML compliance shortcomings at Maitland
Luxembourg’s financial regulator CSSF has found shortcomings in the application of measures to fight money laundering and terrorism finance at fund services provider Maitland Luxembourg SA and issued a fine of 266,000 euro.
Merit Capital is subject to criminal probe, linked to H2O
Belgian police authorities have launched a criminal investigation in Antwerp-based stockbroker Merit Capital, a Belgian press report said on Thursday. The probe is linked to its transactions with H2O Asset Management.
Merit Capital’s future is up in the air after several attempts to find a buyer failed. Luxembourg’s Fuchs & Associés was forced to step back as a possible buyer last month.