Investment Officer

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.

Financial sanctions against Russia and the exposure of investment funds to Russian assets were widely discussed at the 2022 European Asset Management Conference in Luxembourg, hosted by the Association of the Luxembourg Fund Industry, or Alfi, on 22-23 March.

The first quarter of 2022 was one of the toughest in decades for investors with a neutrally balanced portfolio, writes Bloomberg on the basis of its own data. The S&P 500 fell by 4.9 percent, US treasuries lost 5.6 percent and investment grade even fell by 7.8 percent. 

Capital Group and Impax are the asset management firms that won the 2022 Morningstar Awards for Excellence in Investing in Luxembourg, the investment research firm has announced. Funds managed by Fundsmith, Comgest, BlueBay and Capital Group have won individual Morningstar awards. 

The grand duchy of Luxembourg is the second most popular destination for financial services companies seeking to establish themselves in Europe after the UK gave up its membership of the European Union, consultancy firm EY said in a final update of its Brexit Tracker. EY has crowned Dublin as winner for the location of choice for operational moves.

Active management of investment funds is no guarantee for outperformance during volatile times in financial markets, according to a new study presented on Monday by Europe’s top financial markets authority. “There is low ability to generate sustained positive alpha, especially for larger funds,” it said.

Law firm Maples and Calder has announced the promotion of nine of its senior lawyers in Europe, including the appointment of Michelle Barry as partner in its Luxembourg funds and investment management practice. Amundi announced the creation of its first Equity Capital Markets desk, to be headed by Luc Mouzon. Capital Group meanwhile has appointed Kat Ferris to the newly created role of Head of Product Development for Europe and Asia.