Investment Officer Luxembourg

With the collapse of the Green vote ending the country’s so-called “Gambia” (blue, green, red) coalition, Luxembourg’s financial sector is seen to stand to benefit from the near-certain return of the exiled Christian Socialists to governing. There’s an emerging consensus that a prime minister Luc Frieden would be good news for the financial sector and would also make finding solutions to problems besetting the country more likely.

Companies that help prevent CO2 emissions play a crucial role in the transition to a low-carbon economy. They unfairly remain under the radar of investors, argues Raj Shant, managing director at Jennison Associates, in an interview with Investment Officer.

The rapid escalation of hostilities between Hamas and Israel has triggered a significant rise in crude oil prices. Whether broad market volatility will follow depends on Iran.  

The most immediate impact on the market by the unexpected flare-up of violence in Israel, which began Saturday on the seventh and last day of Jewish Sukkot celebrations, was observed in oil markets.

Thursday’s ADP employment growth figure modestly stood out with a meagre addition of 89,000, but the real stunner last week was the ISM Manufacturing Prices Paid Index. Contrary to expectations and amidst surging energy prices, it plummeted last month to a level of 43.8, nearly five points lower than the previous month.

Global investors are increasingly favouring businesses with localised supply chains in response to geopolitical uncertainty and inflation, according to the Schroders Institutional Investor Study for 2023.

Warren Hastings has been appointed as group co-head of investment and head of portfolio Management at Luxembourg-headquartered Quintet Private Bank.

Hastings served for the past dozen years at Credit Suisse, first in Asia and then for the previous five years in Zurich. He was most recently head of investment management, international locations, at that firm. After beginning his career at Schroders as a pan-Asian equity fund manager in London and Singapore, he then joined Standard Chartered, also in Singapore, as head of Portfolio management.

Luxembourg is heading to the polls on Sunday. The outcome is anticipated to reaffirm the Grand Duchy’s status as an international financial centre rooted in political stability. Two issues, however, stand out: talents and taxes.

The private debt market’s robust growth is largely attributed to tighter regulations imposed on commercial banks. A recent US banking crisis, coupled with stricter Basel IV norms, propels this surge. Additionally, tight monetary policies are leading to a notable spike in fees, particularly in relation to risk. Consequently, a promising asset class has quickly taken shape.