Asset Servicing

The outperformance of private equity should be nuanced, says investment expert Jan Longeval. “But it offers an important advantage that is rarely highlighted.”

The Dutch regulator the Authority for the Financial Markets (AFM) has investigated managers who make use of an exception to the licensing obligation in the Dutch Financial Supervision Act (Wft) and only fall within the ambit of a registration obligation. These are the “small” managers (the “light managers”).

The Republicans won the popular vote, regained control of the Senate, and are nearing a majority in the House of Representatives. This is bad news for Fed Chairman Jerome Powell, with whom Donald Trump has a score to settle.

The election of Donald Trump as President of the United States brings a range of uncertainties. Only once more clarity emerges about the course that will be taken on key issues will the full impact of this election result on the U.S. economy, international trade, and geopolitical tensions become clear. However, this did not prevent investors in U.S. small-cap stocks from taking a speculative advance on favourable scenarios for them.

This week’s overview of transfers and appointments in the fund and asset management community in and outside Luxembourg includes updates from Carmignac, CMS Luxembourg, and Mainstreet Partners.

Martin Groos unpacks the journey of the European Long-Term Investment Fund (Eltif) since its promising launch in 2015, and explores whether recent reforms under “Eltif 2.0” will finally deliver success.

UBS Asset Management has expanded its digital asset capabilities with the launch of the “UBS USD Money Market Investment Fund Token” (uMINT), a tokenised money market product built on Ethereum’s distributed ledger.

Growing signals suggest the Republicans could clinch a victory in today’s elections, a scenario generally regarded as optimal for investors. A Republican Sweep would mean lower taxes, deregulation, and increased government spending. However, the gap between the Republicans and Democrats remains too narrow to confidently predict a winner, raising the likelihood of a contentious, potentially escalating dispute over the results.

Luxembourg’s financial regulator CSSF has delivered a sharp warning to the country’s Investment Fund Managers (IFMs) regarding weaknesses in oversight practices when delegating portfolio management. The CSSF’s latest review highlights specific shortcomings, particularly in conflict of interest management and contingency planning, that could expose IFMs to regulatory risk and potential operational failures.

Flexible allocation funds typically have broad latitude to adjust their asset allocation. Additionally, their managers have the freedom to add alternative asset classes to the mix, with gold being a well-known option.