Asset Manager

This week, we are comparing two asset managers rather than individual funds. When analysts evaluate a fund, they assess and assign ratings to its People and Process pillars while the methodology for Morningstar Medalist Ratings also incorporates and assessment of the Parent pillar. This Parent pillar is our focus this week.

The German Bundestag’s decision to boost defense spending through debt issuance triggered a correction in European defense stocks. Investors are taking profits on high valuations as questions arise about whether they are still justifiable.

ESMA has asked the European Commission to clarify Eltif 2.0 implementation rules, as inconsistent supervision across member states risks delaying investor access to semi-liquid private market funds.

Fannie Wurtz from Amundi Asset Management, notes that a striking number of Asian investors are channeling their savings into European funds. The French executive is also optimistic about the sector’s long-term prospects. “Several megatrends are driving the European market.”

European banks are in solid financial shape, and interest income is exceeding expectations. Still, bank analysts are raising eyebrows at the sector’s sharp rally.

Final clarity at last? Luxembourg ends long-running VAT saga on directors’ fees with new guidance and refund framework in Circular 781-2.

Luxembourg, which hosts more than a quarter of all assets held in European investment funds, has raised a red flag over fresh European Commission plans to create a single supervisor for financial services.

Blackrock has been working for “years” on launching a European bitcoin ETP. The asset manager officially introduced it this Tuesday morning on the Dutch, German, and French exchanges.

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.