Alternative funds drive Luxembourg depositary growth but expose digital gaps
Luxembourg’s depositary banking sector is undergoing a structural shift as demand for alternative investment funds (AIFs) continues to rise.
Depositary, custodian services ‘heavily concentrated’
Markets for depositary and custodian banking services in Luxembourg are “heavily concentrated”, with the top ten banks holding more than three quarters of all assets, the first ever survey on depositary and custodian services in the grand duchy shows.