Asset Servicing

Luxembourg’s Raif market shows resilience in 2024, but Investment Officer’s data analysis shows slowing sub-fund launches, revealing growing caution in alternative fund markets.

State Street on Tuesday started construction on its new Luxembourg headquarters in the Cloche d’Or district.

Luxembourg’s depositary banking sector is undergoing a structural shift as demand for alternative investment funds (AIFs) continues to rise.

With EU citizens holding around 34 trillion euros in savings—one-third of which sits in bank deposits—Luxembourg sees an opportunity in European pension reform.

State Street and SS&C Technologies are restructuring their transfer agency operations in Luxembourg and Ireland by dismantling their International Financial Data Services LP (IFDS) joint venture after nearly 20 years, as the industry moves toward automation and blockchain-driven solutions.

Long the dominant force in Europe’s cross-border fund industry, Luxembourg is now pivoting towards alternative investments as the asset management landscape shifts.

Luxembourg’s bold new tax incentives slash employment income taxation by 50 percent for newcomers as of this year. The new tax incentive aims to secure top global talent for its financial sector.

UI efa has strengthened its focus on alternative investments with the appointment of two new business development directors, Emma Causevic and Pamela Valasuo.

While strides have been made in governance practices, significant disparities remain across regions and fund types, shows a fund governance survey conducted by PwC Luxembourg and the Luxembourg Institute of Directors, ILA. Especially Alternative Investment Funds have yet to make big steps in governance, it shows.