Investment Officer Luxembourg

Luxembourg continues to dominate the global cross-border fund registration landscape, holding a 54.6 percent market share despite a slight 0.4 percent drop in 2023, according to PwC Luxembourg’s latest Global Fund Distribution Poster. The 24th edition of this annual posted provides an in-depth analysis of the fund distribution trends across over 40 countries.

Some 40 new Eltif funds, enabling European retail investors to put their money in private markets, are understood to be in the pipeline, due to enter the market in the coming months.

Over the past year, Nvidia’s stock has soared by more than 200%, igniting talks of a “bubble” among the self-proclaimed financial seers. But what precisely do we mean by a “bubble”? This term, often thrown around loosely, lacks a consistent definition among its most vocal proponents.

The Commission de Surveillance du Secteur Financier (CSSF) has imposed a fine of 162,500 euro on Intertrust (Luxembourg) S.à r.l., a specialist in the professional financial sector, for not adhering to its custodial duties as outlined in Luxembourg’s financial sector legislation, particularly concerning the management of non-financial assets.

The European Securities and Markets Authority (Esma), the EU’s financial markets regulator, has fined the European rating agency Scope 2.2 million euro for breaches of the Credit Rating Agencies (CRA) Regulation. The penalty is for Scope’s failure to manage conflicts of interest adequately, involving both structural and specific non-compliance issues.

When investors buy a company’s share, conventionally, they hope for the stock value to climb and maybe pay dividends. But there’s another way to make money on your shares – lend them to other investors to use for their own purposes, for a fee. This hasn’t been previously possible for most investors in Luxembourg. With help of a fintech, one bank has committed to make it happen.

Sweden-based Carnegie Fonder, an independent asset management stalwart, has ushered in Universal Investment Group as the new management company for its Luxembourg-based Ucits Sicav fund range. The announcement marks a significant phase in the operations of Carnegie Fonder, a venerable entity within the Carnegie Group with a history spanning over two centuries.

At the Trends Investment Summit, investment experts from major Belgian banks discussed asset management and allocations, cautioning against undue optimism amid a robust US economy, inflation risks, and shifting investment strategies for 2024.

“In general, one ought to be cautious of undue optimism,” remarked Philippe Gijsels, Chief Investment Officer at BNP Paribas Fortis, addressing attendees on the economic and financial market landscape.