Esma faces uphill battle to emerge as European SEC
In an interview with Investment Officer, Esma chair Verena Ross outlined her vision and the significant challenges ahead as the regulatory body aims to become Europe’s equivalent to the US SEC.
Morningstar: PIMCO and Robeco in Global Corporate Bonds (EUR Hedged)
Eurozone corporate bonds delivered a return of 4.2 percent over the past twelve months (as measured by the Morningstar Eurozone Corporate Bond Index), while their US counterpart, the Morningstar US Corporate Bond Index, lost 1.8 percent in euro terms. The currency effect was crucial here.
Transfers: ABBL, BIL, Deloitte
This week’s overview of people transfers and appointments includes updates from banking association ABBL, Banque Internationale à Luxembourg, and Deloitte Luxembourg.
Fed poised to cut rates as investors warn of stagflation-lite scenario
With inflation still running close to 3 percent, investors warn the Federal Reserve may be cutting into a “stagflation-lite” backdrop: weaker growth alongside stubborn price pressures.
Why a zero allocation to crypto is hard to justify
Should you invest in crypto? A fundamental question for every investor. In a paper, Ran Duchin, David H. Solomon, Jun Tu, and Xi Wang reach a surprising and provocative conclusion.
Pensions: the missing link in European venture capital
Pension funds represent a strategic reservoir to finance innovation and the climate transition in Europe. Despite estimated assets of 2.7 to 3.55 trillion euro, their exposure to venture capital remains marginal: barely 0.1 percent of portfolios, according to a study published by European Women in VC, Pensions for Purpose and Venture Connections.
ING to cut 124 Luxembourg jobs in retail, business banking retreat
ING Luxembourg has put hard numbers on the human cost of its strategic retreat into private and wholesale banking. Up to 124 jobs are set to go.
Critics fear EuroPension repeats mistakes that doomed PEPP
Europe’s pensions supervisor is relaunching the failed Pan-European Personal Pension Product under a new label, EuroPension. Critics warn the project risks repeating past mistakes: too complex to compete with low-cost ETFs, too weak to rival national schemes, and too focused on capital markets at the expense of statutory pensions.
ING integrates Luxembourg unit into Global Investment Centre
ING has brought all its investment expertise together in a newly established Global Investment Centre, effective 1 September. The unit is headed by Chris van Schuppen, who until this summer held senior roles at ABN Amro.
Call for European investment savings plan modeled on Sweden
Sweden has encouraged 3.8 million households to start investing through a tax-friendly savings plan. Industry voices are calling on Europe to follow the Swedish example to help channel the 1,400 billion euro in household savings into investments.