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.
Eltif 2.0: the honeymoon is over as fundraising stalls
Across Europe, asset managers are learning that selling Eltif funds to retail and wholesale investors is far harder than early optimism suggested.
Morningstar: Blackrock and Neuberger Berman in USD high yield bonds
The US high yield bond market returned 7.4 percent for 2025 through October (per Morningstar’s US High Yield Bond Total Return USD Index), outpacing the leveraged loans market’s 4.9 percent return (Morningstar LSTA US Leverages Loans Total returns USD Index). This year’s underperformance stands out, due to several high-profile blowups such as Tricolor and First Brands.
‘Inexperienced’ family offices turn to illiquid investments
Family offices are increasing their exposure to illiquid investments, even though they often lack the expertise to properly assess private market opportunities.
ESMA warns on high costs in fund distribution
Almost half of European fund investors’ costs go to distribution, according to a new report by the European Securities and Markets Authority (ESMA).
Big tech companies take the next step in debt financing
Earlier this month, Meta announced that it would finance the construction of a new data center through debt issued via an SPV, while Oracle is setting up two debt facilities for two data centers. Investors do not see this move toward more “exotic financing” as a sign of weakness. “In a sense, we’re now seeing big tech applying the same financial discipline that has traditionally been associated with infrastructure and utility companies.”
Great wealth transfer: Indosuez evolves to meet next gen needs
Indosuez Wealth Management is addressing changing demographics in wealth by developing more sustainable offerings and management solutions based on exchange-traded funds (ETFs), all while ensuring that they gain and maintain the trust of younger clients.
Transfers: LuxSE, BNP Paribas Cardif, APG, Apex Group
This week’s overview of people moves in the investment industry includes new leadership appointments at the Luxembourg Stock Exchange, BNP Paribas Cardif, and APG.
The myth of “free” dividends
A targeted educational intervention can break the free dividends fallacy among retail investors. The result: a lasting behavioral change that reveals how fragile—yet how malleable—the demand for dividends truly is.
Next generation drives family office appetite for private equity
Despite tough times for private markets in recent years, family offices are seeing increased interest in private equity and venture capital, especially among the younger generation.