Wealth starts with an income of at least €365,000
If you want to be considered wealthy in Luxembourg, you’ll need to earn an annual gross income of at least 365,000 euro.
With Preqin, BlackRock brings indexing to private markets
BlackRock’s strategic 3.2 billion dollar acquisition of U.K. data firm Preqin opens the door towards indexing private markets and can be seen as a defensive move against the threat of private equity.
Luxembourg to publish new Eltifs monthly
Luxembourg’s financial regulator CSSF plans to make public an online register of European long-term investment funds (Eltifs) later in in July. The register will be updated every month with new registrations.
Van Lanschot Kempen eyes bigger market share in Belgium
Amsterdam-based investment firm Van Lanschot Kempen is keen to expand its market share in Belgium.
Sport is the new eye candy for family offices and private equity
Ultra-rich families are increasingly casting their eye on sports as an asset class. According to Goldman Sachs, interest is fuelled by rising valuations and lucrative media contracts.
Luxembourg’s financial script fuels global indie films
Luxembourg fund vehicles are increasingly being used to finance international independent film production.
Defining ‘value for money’ bewilders asset managers
Asset managers are expressing concerns over the European Commission’s lack of a clear definition for “value for money,” arguing its subjective nature complicates the assessment of investment service costs amidst new regulatory pressures.
Degroof Petercam net profit down 26% as taxes, one-off costs bite
Degroof Petercam, Belgium’s largest private bank with a significant presence in Luxembourg, on Wednesday posted a double-digit decline in its full year net profit because of one-time costs related to sale of a majority stake to France’s Credit Agricole group and due to higher tax pressure.
Addressing its business performance, the firm said its private banking business improved due to higher interest rates, while its asset management activities faced a decline in revenues.
AML efforts stymied by lack of qualified staff, PwC finds
Despite constant new regulations and sophisticated technology, one of the main reasons why money-launderers and terrorism financiers continue to succeed is a simple lack of qualified personnel able to make effective use of such tools, according to a recent survey carried out in the Europe, Middle East and Africa (EMEA) region by global accounting firm PwC.
Oddo BHF’s Eltif2 fund targets energy storage, water treatment
Paris-based Oddo BHF Asset Management has announced the launch its first European Long-Term Investment Fund. The fund is called the Oddo BHF Commit for Tomorrow Eltif and will be domiciled in Luxembourg, targeting clients keen to commit to long-term financing companies that provide energy storage and water treatment solutions.