ECB unsure about next steps after hiking 300bps since July
After 300 basis points in six subsequent rate hikes since last July, the European Central Bank on Thursday stopped talking about further increases in eurozone interest rates. The ECB is unsure about its next steps now the effects of higher rates are being felt by businesses, households and banks. It also sees that its policy is transmitting “rather rapidly” into the economy.
Apex to service NewVest PE 50 private equity blockchain fund
Financial service provider Apex Group on Thursday said it has been appointed by NewVest to provide administration services for the firm’s inaugural Private Equity 50 Index Fund, also known as PE 50, which is backed up by a blockchain.
Welcome to the Multi-Stage Life
Which companies are well placed to capitalize on the long-term behavioral and lifestyle changes that a multi-stage life might bring about? The International Equity Team discusses.
Pension funds see losses in real estate portfolios
Dutch pension funds, a major category of investors in global markets and clients to many Luxembourg real estate funds, last year suffered losses on their real estate investments after many years of rising values. Their investments in real estate funds, however, delivered positive numbers.
Credit Suisse wants to become ‘smaller, more focused bank’
Negative global market sentiment against Swiss bank Credit Suisse meant Europe’s banking sector was under fire again on Wednesday, leading up to a evening statement by Swiss supervisors saying that they will commit liquidity to the bank. The bank then said it plans to move swiftly to create “a smaller and more focused bank”.
“If necessary, the SNB will provide CS with liquidity,” the Swiss National Bank and regulator Finma said last night.
Luxembourg Ucits now dominant in Belgium
Luxembourg-domiciled Ucits investment funds for retail investors have become the most widely used funds in the Belgian market, the head of Belgian asset management association Beama said on Wednesday.
Bank supervisor Claude Wampach: ‘The market is always right’
Now that the initial dust on SVB’s collapse has settled, one of Europe’s top bank supervisors has a clear message for investors, bankers and financial market participants: banks in Luxembourg and elsewhere in Europe are safe and sound thanks to stringent supervision. “If rates were to still increase, our banks would not sustain losses up to a level that would put their solvency into question,” said Claude Wampach, who serves as director of banking supervision at Luxembourg’s financial regulator CSSF, speaking to Investment Officer.
Amundi on US bank crisis: ‘This is not a systemic risk’
Europe’s biggest asset manager Amundi on Tuesday said it does not believe that the collapse of Silicon Valley Bank and the ensuing US banking crisis is an event that poses a systemic threat.
In a note to investors, Amundi’s top investment team, including Monica Defend (photo), Vincent Mortier and Matteo Germano, noted that the European banking sector “is in far better shape” than in the 2008 financial crisis. Nevertheless, they urged investors to watch out for areas of vulnerability.
Laurent Cooreman takes the helm at BIL’s Belair House
Laurent Cooreman on Monday was appointed as chief executive officer at Belair House, the real-estate focused family office unit of Banque Internationale à Luxembourg, also known as BIL.
Moody’s: solid balance sheets limit contagion for EU banks
A solid balance sheet structure will help European banks buffer stressed market conditions following the collapse of their US peers Silicon Valley Bank, Signature Bank and Silvergate Bank, credit agency Moody’s said.