Expert Panel

Global equity investors faced a challenging first half of the year. An optimistic start quickly gave way to turmoil as President Trump’s trade war and escalating geopolitical tensions unsettled markets.

Investors may believe their withholding tax (WHT) obligations are fully addressed. However, in practice, standard recovery approaches often concentrate on jurisdictions with more straightforward procedures, potentially overlooking opportunities in regions with more complex requirements.

The first half of the 2025 market year was turbulent. Investors quickly turned away from their optimism surrounding a second term for Donald Trump once his erratic and impulsive leadership came back into focus. That memory immediately stirred nervousness and uncertainty across equity markets.

2025 had barely begun when the euphoria of the previous year was gone for good. Geopolitical tensions, economic concerns and political conflicts dominate the financial markets—even if the stock markets have calmed down a little (at least for the time being) since the turbulent beginning of April. Super ManCo Universal Investment’s analysis shows how institutional investors are trying to cope with the new environment and which trends are evolving in their portfolios.

Morningstar this week compares Comgest to Carmignac as it highlights why strong culture, stability, and long-term focus define top-tier asset managers.

Brussels’ flagship sustainability law, the CSRD, is caught in a EU political crossfire—Luxembourg included—triggering confusion, Omnibus exemptions and regulatory backpedalling. Norton Rose Fulbright’s Claire Guilbert and Cyril Clugnac explain.

ESMA’s guidelines for fund names are now in force. Is your fund truly compliant? Or is it risking regulatory attention?

Morningstar this week looks at euro corporate bond funds and compares Janus Henderson with Invesco. After tariff tensions rattled markets, fund managers remain cautiously positioned in defensive sectors despite temporary relief.

“Diversification is the only free lunch in investing,” said Harry M. Markowitz, the father of modern portfolio theory. He referred to the idea that broad diversification is likely the best way to limit portfolio risk without sacrificing returns.

Luxembourg’s financial sector is recruiting Belgian talent from the local market or trying to lure them to the Grand Duchy. Although Luxembourg remains the top destination for Belgians seeking to work abroad, the number of those actually doing so has stagnated.