André Bauler rapporteur for funds law reform
André Bauler, member of the Luxembourg parliament for the Democratic Party, on Friday was appointed by the parliament’s finance and budget committee to coordinate the different political positions for the upcoming discussions on a proposal to update the grand duchy’s investment fund laws.
Bruno Colmant sees end of ‘so-called neo-liberalism’
Bruno Colmant, former CEO at Degroof Petercam, spoke in Luxembourg this week as a member of Belgium’s Royal Academy. Addressing an audience of bankers and real estate professionals he laid out his views on the impact of increased public spending linked to fighting “systemic risks” in Europe. “We are closer to a communist state than to a free market economy.”
Luxembourg’s financial sector set for wider adoption of AI
Although usage of artificial intelligence in the Luxembourg financial sector is currently fairly limited and still at an early stage, the grand duchy is set for wider adoption of artificial intelligence in the near future, according to a survey carried out by BCL, the central bank, and financial supervisor CSSF.
CSSF adopts flexible deadline for SFDR data reporting
Luxembourg financial supervisor CSSF on Thursday announced a more flexible deadline for filing reports on marketing materials in relation to the EU’s Sustainable Finance Disclosure Regulation, or SFDR.
‘Inflation outlook continues to be too high for too long’
The European Central Bank on Thursday began to slow down its pace of rate hikes, announcing an increase of 25 basis points following seven back-to-back increases of 50 basis points. The ECB said that underlying price pressures in the 20 Eurozone countries remain strong.
Selling Eltifs to the masses requires distribution adjustments
The launch of the amended Eltif regulation – version 2.0 – fits a narrative in some quarters that the version of Eltif already on the books is some kind of failure. Data nevertheless shows that investment in even the “limited” version of Eltif in place since 2015 is still growing quickly and various projections specify even faster growth. In order for the vehicle to be sold to masses of clients under Eltif 2.0, experts said that consequential adaptations will have to be made to the way such funds are sold and distributed.
Mastering Luxembourg’s toolbox for alternative investment funds
Once upon a time in 2013, Luxembourg launched the conversion of the EU directive on alternative investment fund managers (AIFMD) into its national law. It ultimately culminates, alongside the conversion of other European countries of the AIFMD, into the first globally regulated environment for alternative investment funds (AIFs).
Banque Havilland sells custody unit in private banking refocus
Banque Havilland, a Luxembourg private bank owned by British property developer David John Rowland, has sold its depository and custody business for an undisclosed amount to Spain’s Banco Inversis as part of a new strategy in which it fully focuses on private banking.
ECB seen hiking 25 bp as policy impact becomes clear
A fresh flash estimate for inflation in the 20 eurozone countries and the latest ECB bank lending data shows that higher interest rates are slowing down economic growth in Europe, fuelling expectations among fixed income analysts and economists of a smaller rate increase of 25 basis points - following six consecutive hikes of 50 basis points - when the ECB’s monetary policy decides is next step on Thursday.
Blackstone fund accepts less than one third of redemptions
The Blackstone Real Estate Income Trust, one of the world’s largest property investment funds, in April accepted 29 per cent of 4.5 billion dollars worth in redemption requests. The fund told investors on Monday that it decided to fulfil 1.3 billion, less than a third, of these requests to sell.