Justin Doornekamp

Luxembourg may be leading the charge in Eltif launches under the revised framework, but elsewhere in the Benelux they are proving a tougher nut to crack.

Institutional investors in the Benelux region plan to allocate more capital to private markets this year.

The range of active ETFs in Europe is growing rapidly and Robeco is also investing heavily in the development of this asset class. The Rotterdam-based fund house brought in Nick King from Fidelity to roll out its ETF strategy, resulting in the launch of four equity ETFs last autumn. In 2025, the focus will be on bonds.

Esma acknowledges that further research is necessary to obtain a more complete picture of the costs of European investment funds. The European regulator made this statement following criticism from industry association Efama regarding a recent Esma report on these costs.

The year 2025 is set to be an uncertain one for investors in private markets, with particular concerns surrounding Donald Trump’s political agenda. However, experts also identify opportunities.

In 2024, valuations in private markets stabilised, and deal volumes picked up somewhat, making this year slightly better for private investors compared to 2023. However, it was far from spectacular, experts told Investment Officer in a retrospective. There remains a mismatch between what sellers expect for their stakes and what buyers are willing to pay—a lingering effect of significantly higher interest rates.

Most fund houses believe the US stock market offers the best opportunities for high returns next year, despite already high valuations. In contrast, the outlook for Europe is bleak.

Private equity is under increasing pressure to innovate in response to growing competition, according to Hylke Hertoghs and Bastiaan van Slobbe, managing partners at Marktlink Capital.

The warning that the future of the European Union is at stake, as expressed in Mario Draghi’s report on Monday, could signal a shift in sentiment and perception among policymakers and investors. This is the view of Robeco, outlined in their outlook for the 2025-2029 period.

Cellar Investment Partners is introducing a new investment fund that focuses on the wine market. The fund was registered in Luxembourg last month.