There is no way around Luxembourg
German investors have been internationalising their property portfolios for years. At the same time, foreign investors are increasingly drawn to the German real estate market. Though the momentum has fluctuated, the overall trend persists. As one of the leading fund domiciles in the world, Luxembourg has firmly established itself as a key player in this internationalisation.
Charlie Munger’s passing marks the end of an era
Charlie Munger, Warren Buffett’s esteemed colleague at Berkshire Hathaway, passed away on Tuesday at 99, marking a significant moment in the history of corporate America and the investment world.
Berkshire Hathaway announced Munger’s peaceful passing at a California hospital. He was close to his centennial, residing in Los Angeles. Buffett, 93, credited Munger with a pivotal role in shaping Berkshire Hathaway, highlighting his involvement as fundamental to the company’s growth.
Serge Weyland to succeed Camille Thommes as Alfi DG
Serge Weyland, CEO at Edmond de Rothschild Asset Management in Luxembourg, is set to replace Camille Thommes as the director general of the Association of the Luxembourg Fund Industry (Alfi), effective 1 January 2024.
Benelux banks early adopters of Article 9 fund of funds
Banks in the Benelux are adopting Article 9 fund of funds to offer retail clients unlisted impact investments, despite concerns over high costs.
Laws and regulations make it difficult for parties to offer unlisted impact investments to retail clients. Banks in the Benelux see a solution in Article 9 funds of funds. “Customers are actually not waiting for it because of the high costs, but a fund of funds is desperately needed,” says Jan Willem Hofland, head of investment sales at Abn Amro MeesPierson.
Industry welcomes planned tax cuts for active ETFs
The head of Luxembourg’s fund and asset management industry association on Tuesday gave its full backing to a government plan to make the Grand Duchy’s tax laws friendlier for investors in active ETFs, a product that is experiencing considerable investor interest across Europe.
Jean-Marc Goy, president of the Association of Luxembourg’s Fund and Asset Management, Alfi, told a conference that the tax treatment of active Exchange Traded Funds (ETFs) is “where improvement is needed.”
Luxembourg private debt market sees 51% growth
The Luxembourg private debt fund market, with its assets under management soaring to 404.4 billion euros, marks a stunning 51 percent growth year-over-year, showcasing its robust position in the European financial landscape, according to the latest edition of the annual private debt survey by KPMG and industry association Alfi.
Raif registrations show signs of renewed strength
Registration levels of new Reserved Alternative Investment Funds have continued their recovery from the slowdowns in activity seen earlier this year. In October, a total of 35 new Raifs were created, according to Investment Officer’s analysis of the latest Raif registration date made available in mid-November by the Luxembourg Business Registers.
‘Deficient’ due diligence behind mass account freeze
Luxembourg’s financial watchdog CSSF has disclosed that about 86,000 investor accounts, primarily belonging to everyday retail investors across Europe, are currently frozen in the Grand Duchy.
Eltif 2.0 supervisory standards could come only late February
Updated European rules for long-term investment funds known as Eltifs will enter into force on 10 January 2024, but managers looking to actually launch new Eltif 2.0 funds may have to wait until the end of February because European financial supervisors still have to agree on the technical standards for supervising these products.
Timing the market with Luxembourg funds is costly
Timing the market with your fund investments can be costly, especially if you are a cross-border investor using Luxembourg-domiciled mutual funds.