Wealth Managers

The amended EU proposals for a retail investment strategy have spurred asset managers to reflect on the value the offer for the money that they take, it beame clear at a Luxembourg discussion at the ALFI conference.

Waystone Luxembourg on Tuesday said it will provide single-umbrella ManCo and related services to US-based Fred Alger Management’s SICAV range.

The partnership will add 600 million US dollars to Waystone’s AuM, raising it to 2,000 million US dollars and is part of the firm’s international expansion effort in recent years.

Some 40 new Eltif funds, enabling European retail investors to put their money in private markets, are understood to be in the pipeline, due to enter the market in the coming months.

When investors buy a company’s share, conventionally, they hope for the stock value to climb and maybe pay dividends. But there’s another way to make money on your shares – lend them to other investors to use for their own purposes, for a fee. This hasn’t been previously possible for most investors in Luxembourg. With help of a fintech, one bank has committed to make it happen.

With so much media and public attention focussed on large-cap companies like any of the Magnificent Seven, it’s interesting to hear the case for investing in small and mid-cap companies. Those are market valuations, respectively, under 2 billion and between 2 and 10 billion US dollars. Henrik Blohm, who has run the BL American small & mid-caps fund since 2015, is a big proponent.

Uncover the intersection of passion and profit as top-tier banks, including J.P. Morgan, pioneer art financing solutions, offering professional investors an exclusive insight into the evolving landscape of high-value art as a serious asset class.

Services, not fees, are increasingly driving client decisions in wealth management and private banking, a leading US consultancy has concluded in its latest study of clients in the high-net-worth (HNW) and ultra-high-net-worth (UHNW) market segments.

Major domestic Luxembourg bank Spuerkeess will move the majority of its fund portfolio to Euroclear FundsPlace as part of its effort to streamline and cut costs in its fund business, the bank has announced this week.

The bank said it “has decided to move away from transfer agents and centralise the distribution and execution services of its funds.”

Euroclear’s funds platform has started to manage the lion’s share of the Spuerkeess portfolio  and “collect trailer fees on external custodians” as well.

Luxembourg’s CSSF financial regulator on 20 February announced that in late 2023, it had imposed a nearly half-million euro administrative fine on Mizuho Trust & Banking (Luxembourg) S.A.

The 17 November 2023 fine of 444,400 euros was imposed for non-compliance with professional obligations under Luxembourg’s financial sector law relating to governance and IT organisation. 

Interest in investing in private markets, private credit in particular, may have surged, but that growth is just the beginning. “We see a structural shift towards private credit,” says Joan Solotar, global head of Private Wealth Solutions at Blackstone.