Investment Officer Luxembourg

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.”

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 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.

AI funds are offering investors the opportunity to capitalize on the burgeoning interest and opportunities that Artificial Intelligence presents. Using the Consensus Purity Score, Morningstar was able to rank funds based on their pure exposure to the AI theme. A top 5.

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.

The artificial intelligence revolution is in full swing, and Nvidia’s recent financial performance is a testament to this transformative era. For investors as well as businesses and policymakers, the dawn of generative AI has opened the doors to a new era.

The European Securities and Markets Authority (ESMA) on Thursday unveiled its ambitious Data Strategy for the next five years, signalling a commitment to bolstering data-related technologies, slashing compliance costs, and enhancing data accessibility within the European Union’s financial markets.

Brussels wants to place ESG data providers under the supervision of the financial watchdog, the European Securities and Markets Authority (ESMA). The proposal aims to address concerns about transparency and potential conflicts of interest in the creation of ESG ratings. It is part of a new package of sustainable finance measures presented by the European Commission on June 13th.

“Active management is a sham — no wonder my returns are suspect,” writes Stuart Kirk, FT columnist and former portfolio manager, in his latest attack on active management. However, he conveniently overlooks one important detail.

Investment businesses positioning themselves for a future shaped by artificial intelligence should maintain their focus on where they want it to be in the long term. And they should not be alarmed by the massive job losses that will stem from AI adoption. The global economy will be supported by productivity gains that the AI revolution will bring, easing the impact of an ageing workforce.