Investment Officer

In the first quarter, investors sold off their Chinese shares en masse. Foreign investors who had burned their money in Russia were afraid that a similar scenario would unfold in China, potentially leaving them with stranded assets. But there is a silver lining here, Louis-Vincent Gave, co-founder and director of research company GaveKal, told Investment Officer. “A Taiwan invasion is less likely now than it was a few months ago.”

The International Monetary Fund has warned of a more permanent fragmentation of the world economy into geopolitical blocks with distinct technology standards, cross-border payment systems, and reserve currencies. The fund has lowered its growth outlook for the global economy and warned that inflation in many countries is threatening to undermine future growth. “Inflation has become a clear and present danger in many countries,” the IMF said.

Rosheen Dries has joined EY Luxembourg as the firm’s new wealth and asset management tax leader. She brings more than 25 years of reporting and tax experience in Ucits and alternative finance. 

Wealth management platform FNZ and Clearstream, Deutsche Börse Group’s post-trade services provider, said that they have agreed a strategic partnership that will help asset managers get a better view of information required for the distribution of investment information.

Apex Group, a global asset services specialist present in Luxembourg also with its FundRock and LRI Invest subsidiaries, on Tuesday said it has acquired a majority stake in FTS, a US-based tax services firm serving clients in the alternative investment and family office sectors, for an undisclosed amount.  

In this second podcast from Alfi’s 2022 European Asset Management conference we enlighten you with valuable insights on what’s happening in Luxembourg’s asset management ecosystem. You will hear about Luxembourg’s new securitisation law, about collateralised loan obligations, about plans for the European Long-Term Investment Fund, known as ELTIF, as a new type of collective investment framework. 

Frankfurt-based funds law firm Zeidler Group said it has received approval from Luxembourg’s financial regulator to serve professional clients and to support fund marketing as a UK Mifid firm under the third country regime in the Grand Duchy.

In a statement, Zeidler said it was “delighted” to announce its successful registration as a UK MiFID firm under the third country regime in Luxembourg for marketing to professional clients. The CSSF gave its official green light earlier this year.

“It is not five minutes to twelve, but one minute to twelve,” said Detlef van Vuuren, one of the Dutch scientists who collaborated on the latest report by the UN climate agency, the IPCC. 

According to the report, presented on Monday, countries have to invest three to six times more than currently agreed in measures to reduce greenhouse gases. If that does not happen, the climate goals will be far out of reach. That is this week’s alarming message from the United Nations. 

Invesco, an asset management firm with a Luxembourg presence in Kirchberg, Invesco Management S.A., said it has expanded its Benelux operation with the hire of a new ETF sales manager.

Jolien Brouwer has joined the Invesco Benelux team as ETF sales manager, based in the Amsterdam office. Previously Brouwer was responsible for the ETF sales at VanEck. She will report to Roel Thijssen, Head of Benelux Distribution.

When it comes to the prospect of a recession, and a possible prolonged period of stagflation, the jury is still out, even in Europe. Although in agreement on a deteriorating economic outlook, major asset managers such as BLI, Pictet and JP Morgan hold diverging views on what’s next. For investors, corporate earnings are now seen as the next waypoint.