assets under management

Private banks in Luxembourg have seen their assets under management double since the 2007-8 financial crisis, according to a survey conducted by KPMG and the Luxembourg Bankers’ Association (ABBL). The report observed that growth at Luxembourg’s private banks in 2020 outpaced growth at their counterparts in Switzerland.

Private banks held 508 billion euro in assets at the end of 2020, up 9 percent from 466 billion euro a year earlier and more than double the 225 billion euro held at the end of 2008.

PGIM Investments has seen the assets under management in its UCITS fund range in Europe double from 4.8 to 9.6 billion US dollars in the past 1.5 years. This increase is mainly due to new inflow and to the fact that the American asset manager, as an active house, charges competitive fees.

Figures published by the supervisory Commission de Surveillance du Secteur Financier show that Luxembourg-registered investment funds were managing approximately 4,670 bn euro in November 2019. 

Ever since 1998, Luxembourg has been gaining influence and volume as a hub for investment funds, showing next to no downturn in the process. In 1998, the total amount of capital managed by Luxembourg investment funds was approximately 500 bn euro.