Investment Officer Luxembourg

Luxembourg’s financial supervisor CSSF on Monday said it expects managers of Liability Driven Investment funds, also known as LDI funds, to maintain yield buffers set last year at levels introduced to make these funds resilient to the UK Gilts crisis.

Global asset manager Columbia Threadneedle Investments on Monday said it has appointed Jill Griffin to the newly created role of head of Luxembourg. She will report to David Logan, global chief operating officer.

This week, the European Central Bank published its ‘Monetary developments in the euro area’ report. And with that, we finally got information on bank deposits in the euro area.

European deposits look a lot better on an aggregate level than in America. Unlike in the United States, where bank deposits are down 3 per cent from a year ago, Eurozone deposits are still growing. That means the risks of traditional bank runs are lower here.

The global market for Exchange Traded Funds, better known as ETFs, is projected to more than triple in the next ten years to reach 30 trillion dollars, says Brown Brothers Harriman in a new study it releases today. Developments in this market are closely watched in Luxembourg, Europe’s second-biggest hub for ETFs. ETFs are increasingly finding their way into institutional portfolios, concludes BBH in its annual survey of 325 institutional investors, financial advisors and fund managers from the US, Europe and China.

Fund and corporate services firm Alter Domus is making possible “vastly reduced” commuting times for its large staff through the opening of two new satellite offices located near Luxembourg’s borders with France and Germany, as part of its “ongoing commitment to flexible working arrangements.”

The two new offices are located in the border towns of Steinfort and Frisange, and are “intended for Alter Domus employees travelling in from Belgium and France, respectively,” according to an undated press release sent to Investment Officer on Thursday.

Europe’s fund and asset management organisation Efama, active in the development of the updated European long-term investment fund, expressed  strong optimism this week about the updated vehicle’s interest to both professional and retail investors and its ability to fulfill its Capital Market Union aspirations.

Despite early questioning of its ability to provide sufficient liquidity to attract retail investors, Efama’s expert detailed how the legislation provides several tools that afford liquidity solutions.

This Luxembourg edition of IO Talks hears about the ambitions of Waystone Management Company’s newly appointed Luxembourg CEO Denis Harty. 

Financial supervisor CSSF on Thursday said it has imposed a fine of 178,600 euro on European Depository Bank SA, a unit of Apex Group.

A 2021 on-site inspection by the CSSF looked into the firm’s IT risks and found “infringements” relating to internal governance and IT organisation, IT outsourcing and IT risk management, the supervisor said.