Investment Officer Luxembourg

A strong start to the year for smallcaps does not guarantee outperformance in 2026.

When it comes to passing on assets, Luxembourg’s wealthy are focused on legacy rather than tax optimization, according to Ellen Brullard, chair of STEP Benelux and counsel at Arendt & Medernach. Anticipation is key, though it is more complex than it sounds.

Global shipping is slowing as surging fuel costs and mounting risks in the Persian Gulf begin to strain the industry’s finances, forcing companies to cut speeds, seek emergency credit and rethink whether voyages are still viable.

BNP Paribas Asset Management expects its alternatives division to grow by 5 to 6 percent annually and to consolidate its leading position in Europe. The asset manager said it is barely affected by the negative sentiment surrounding private credit.

European banks have little direct exposure to the Middle East, says European credit rating agency Scope. However, as tensions in the region threaten to push up energy prices and slow economic growth, the risks for lenders may emerge elsewhere: in the balance sheets of the companies they finance.

This week’s European transfers section includes updates from Langham Hall, Aviva, DZ Privatbank, Trustmoore, Edmond de Rothschild and Pia.

Sebastiaan Hooghiemstra and Gabriël Storm at Loyens & Loeff examine the latest EU-level guidance on Target Funds under ELTIF 2.0 and its implications for ELTIF managers and product structuring going forward.

Machine learning is increasingly used to identify inefficiencies in small- and midcap markets. But as more investors adopt the same technology, it could make generating alpha more difficult.

An unprecedented wealth transfer is underway. Over the next two decades, an estimated 124,000 billion dollar in assets will shift globally from the baby boomer generation to younger generations.

The Belgian tax administration has further digitalized the procedure for filing the tax on collective investment institutions (CIV tax). In principle, the tax return must now be submitted electronically through the MyMinFin portal.