Lombard Odier sees AUM rise 4% in H1
Switzerland-based investment house Lombard Odier has reported a 4% increase in assets under management since the end of December 2022, reaching 198 billion Swiss francs of assets at the end of June 2023. The result is due in part to “solid contributions” due to new net inflows in its private clientèle and asset management units, the firm stated.
At the same time, the firm says it is pursuing strategic investments in its operations. At the end of June 2023, the total assets of the Group’s clients reached 308 billion Swiss francs.
Directors’ Office enhances professionalism
In recent years, the regulatory framework for the duties and responsibilities of the board of directors or management board and for the control functions within Luxembourg investment fund managers has evolved significantly. Among others, CSSF Circular 18/698 has tightened the regulatory requirements for the authorisation and organisation of Luxembourg investment fund managers (“IFMs”).
PGIM Investments: Recession risks tempered by still solid growth data
PGIM Quantitative Solutions’ Q3 2023 Outlook puts this year’s market rally into context and explains why the conflicting forecast could warrant cautious optimism.
AXA IM: Bond market pain reintroduces some value
This summer’s bond bear market has been painful. Government bond yields have risen to multi-year highs. The good news is that this has brought value back into the bond market.
SFDR Article 8: The bar is not high
SFDR Article 8 has become a ragbag of investments that can be both green and grey, several experts say. Fund houses offering Article 8 products do not seem to set the bar very high.
While Article 8 products promote environmental or social features, they do not have a sustainable investment objective. While this does not detract from the fact that such products can still be green, fund houses do not seem very ambitious in their sustainability goals for Article 8 funds.
Investing with artificial intelligence
Artificial intelligence is eminently an application for investors. Especially in a complex data-rich environment with a lot of uncertainty, artificial intelligence thrives.
Investors unsure if investment losses can offset capital gains tax
A Luxembourg tribunal decision barring a local company from using investment losses to write off capital gains taxes imposed on a real-estate transaction has caused worry in some corners of Luxembourg’s investment world. Using losses to cut income tax due is a well-established practice. However, a legal analysis by ATOZ, the law firm that alerted many to the 30 March 2023 court decision, says the decision is unlikely to survive an appeal.
PGIM Investments: Tech rebound boosts growth optimism
In its Q3 2023 Outlook, Jennison Associates identifies equity sectors offering the best opportunities and explains why the tech rebound—particularly in artificial intelligence—and the resilient economy are boosting prospects for growth stocks.
Chart of the week: ‘hopium’ is gone
The ‘intra-day’ turn of the S&P 500 Index following the release of US inflation data is the first evidence that Powell has deprived markets of ‘Fed hopium’.
US headline inflation rose to 3.2 per cent in July from 3.0 per cent. While that was lower than expected, it was nevertheless the first increase in the inflation level since June 2022, which (social) media used to fill headlines.
‘Several’ parties express interest in Fuchs Asset Management
Animated movies. German real estate. Trade finance. Polish mortgages. Industrial lasers. Environmental intelligence. Pharmaceutical services. More than 1.5 billion euro has been invested in the Luxembourg-domiciled alternative investment funds under the wings of Fuchs Asset Management. Its AIFM portfolio presents a small microcosm of alternative investments managed via the Grand Duchy. The manco is for sale after its parent company, Fuchs & Associes, entered liquidation last month. Jean-Jacques Lava, deputy-CEO at Fuchs AM, said the sale process is going according to plan.