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LuxSE books €170 mln gain on Fundsquare sale

The Luxembourg Stock Exchange, also known as LuxSE, has booked a one-time gain of 170 million euro on the sale of its data subsidiary Fundsquare, it said following its annual general meeting on Friday.

The sale of Fundsquare to FE fundinfo, a London-based provider of investment fund data and technology, was completed last September. LuxSE acquired an unspecified ownership stake in FE fundinfo following that transaction.

Artificial inconsistencies

I’m a big fan of the Bank of America Global Fund Manager Survey. Firstly, because it pertains to the positioning and perspectives of real investors managing significant amounts of money. And secondly, because Bank of America tries to translate the responses given in the survey into signals and even investment decisions—something often overlooked by many “storytellers.”

Emir 3.0: mandatory clearing presence in EU stirs debate

The trade clearing industry generally likes the EU market trading rules’ proposed update, but it has much less enthusiasm about a provision based on the polity’s plan to take back control of EU trading in the post-Brexit context. Experts at an Efama event said it will increase costs, pose operational challenges and disrupt the practice of ‘block trading’, with one labelling it as an “import tax” forcing the market to “import liquidity”. 

‘Crédit Agricole, ABN, Swiss to bid for Degroof Petercam’

Crédit Agricole, ABN Amro, and “one or two Swiss private banks” have been named as finalists in the bidding process for the acquisition of Belgian wealth management and investment bank group Degroof Petercam, French business daily Les Echos reported on Friday, citing multiple sources.

EY: ‘Talents and tax’ drive investment in Luxembourg

Luxembourg topped the list for the most direct foreign investment per capita for the second year running in EY’s Luxembourg Attractiveness Survey. But the clear sense at a press conference held to release the second edition of the survey was that the country has to work hard to keep itself in this favourable position, increasing its attractiveness, defending its financial industry against EU anti-tax avoidance directives, as well as figuring out the issue of the talent gap.