Investment Officer Luxembourg

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. 

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.

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.

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, 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. 

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.

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.

Luxembourg is set to modernise its legislation for investment funds under a proposal that will first be discussed later this week in the grand duchy’s parliament. The bill seeks to improve the various structuring options for investment funds. 

The parliament budget and finance committee on Friday will discuss Bill 8183, which was submitted at the end of March. At the 5 May meeting the committee is due to appoint a rapporteur who will coordinate the legislation.

A recession is what usually concerns many investors, and economists. But exactly how they estimate the probability of a recession is often unclear to me. And sometimes not much of the “approach” is correct either. Given the significant potential impact on different asset classes, it makes sense to attempt to get a grip on it myself.