Luxembourg 2nd cross-border provider in EU retail
Cyprus has emerged as the primary location for firms offering cross-border investment services to retail clients in the European Union and European Economic Area, accounting for 23 percent of the total firms providing passported services. Luxembourg and Germany followed closely, representing 16 percent and 13 percent of all firms, respectively, according to an analysis conducted by European Securities and Markets Authority (Esma) and national competent authorities (NCAs).
Goldman Sachs AM raises $200 mln with its first Eltif
Goldman Sachs Asset Management has successfully raised over 200 million dollars with its inaugural European Long Term Investment Fund, Private Markets Eltif 2023. The fund offers individual investors direct access to investments in the private market and is managed by Goldman Sachs Asset Management, a leading global investment firm overseeing over 450 billion dollars in alternative assets.
Raif registrations rebound in June, recovery seen
The number of new reserved alternative investment funds registered in Luxembourg during a single month in June showed its first rebound since January. Issuance levels though are well below their historic averages. Economic and geopolitical issues get the blame, along with difficulties in raising institutional investment money. Still, faith in the vehicle remains strong, with private equity specialists expecting a further recovery in Raif registrations.
PGIM Investments: Credit Dispersion Boosts Active Alpha Potential
PGIM Fixed Income Senior Portfolio Manager Michael Collins, CFA, guides fixed income investors through the economic cycle and reveals compelling opportunities along the way.
Do boards of directors protect investors?
According to research, a typical board director in the Luxembourgish fund industry is a 53-year-old European man with 22 years of work experience (who probably plays golf). Their role is to ensure investors avoid the rough and get to the green safely.
Failure results in a penalty stroke from the CSSF.
Fuchs & Associés enters liquidation, Fuchs AM up for sale
The Luxembourg District Court on Tuesday ordered the dissolution and liquidation of 23-year old investment firm Fuchs & Associés Finance SA and appointed a liquidator and an official receiver. Luxembourg’s financial supervisor CSSF, noting “serious breaches of essential legal and regulatory requirements,” said it has revoked the firm’s authorisation to operate as an investment services provider and has activated the Grand Duchy’s investor compensation scheme.
Four Luxembourg private banks get top Chambers ranking
Four private banks in Luxembourg have received the highest ranking in the latest “High Net Worth” report by London-based rankings and insights intelligence company Chambers and Partners.
Bank Julius Baer Luxembourg S.A., Banque de Luxembourg SA, Banque Internationale à Luxembourg SA and Pictet & Cie (Europe) SA - in alphabetical order - were each assigned a ‘band 1’ ranking, the highest in Chamber’s ranking system from one to six.
Invesco: Investing in the AI evolution
An update with James and Tony about generative AI and its implications for society and investors.
Luxembourg, upgrading funds law, seeks pole in Eltifs
The 60-seat Luxembourg parliament has finalised its adoption of a major upgrade of five investment laws, making its popular international framework for investment funds even more attractive for new types of funds coming into the market, in particular Eltifs. The industry has widely welcomed the changes, with one ManCo CEO describing them as “an evolution rather than a revolution.”