Transfer Thursday: Quintet, Waystone, Crestbridge, PwC
This week’s overview of transfers, appointments, promotions, and other people news includes updates from Quintet, Governance.com, Waystone, Crestbridge and PwC Luxembourg.
Delays in parliament put Retail Investment Strategy at risk
The European Union’s Retail Investment Strategy is teetering on a tightrope.
Global AuM down 0.2% in euro terms, 2.7% in dollar, during Q3
The latest quarterly report from Efama, the European Fund and Asset Management Association, shows that the global investment fund industry witnessed a slight decrease in net assets, dropping by 0.2 percent in euro terms to 64.33 trillion euro in the third quarter of 2023. This trend was mirrored in US dollar terms with a 2.7 percent decline.
SFDR: Benefiting everyone but investors
Since its implementation in 2021, the EU Sustainable Finance Disclosure Regulation (SFDR) has successfully redirected flows from non-ESG funds to ESG ones. In Luxembourg, over 50 percent of Ucits funds are now classified as either an Article 8 or 9 fund, marking a significant surge in sustainability-focused investments.
Deloitte boosts fintech practice with Alto Advisory
Deloitte Luxembourg on Monday said it has acquired the fintech practice of Alto Advisory for an undisclosed amount per 1 January 2024. Alto offers software services for depositaries, transfer agents and fund managers.
Yoan Jagoury (photo), Alto founder and its former CEO, has since joined Deloitte Luxembourg as a director.
‘Outsourcing remains a dominant force in Luxembourg’
Luxembourg’s financial sector continues to rely heavily on outsourcing services. A survey, conducted by PWC among 342 top executives and operational heads in the financial sector, found that a remarkable 90 percent of them engage in outsourcing activities.
Single family offices increasingly seek collaboration
In the dynamic world of family offices, a significant trend is emerging: single family offices increasingly collaborate with multi-family offices for complex administrative tasks. Nienke Bollen and Maartje van Casteren, partners at Providence Capital, have observed this shift in their daily operations. Leveraging their experience, they offer insights to multi-family offices, maximising their expertise.
Investors tread cautiously in considering El Niño risks
The risks of the El Niño weather phenomenon can be approached as an opportunity, but large investors are showing caution and prefer not to seek out these risks. Quantifying the effects of this and other climate factors is complicated enough.
PGIM Investments: Key trends set to shape 2024
While resilience and ebbing inflation remain notable economic themes, heightened geopolitical risk and softening consumer trends now add uncertainty to the outlook. Discover the latest thinking from PGIM asset managers on negotiating the year ahead.
A spot Bitcoin ETF - does it matter?
The imminent decision by the U.S. Securities and Exchange Commission (SEC) on a series of U.S. spot Bitcoin Exchange-Traded Funds (ETFs) is stirring up the Bitcoin investment community. While many investors are caught up in a typical “buy the rumour, sell the fact” scenario, it’s crucial to consider the long-term implications on Bitcoin, guided by what I term the “7% principle”.