Investment Officer Luxembourg

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. 

The impending climate crisis is claiming ever-more attention on the political level. Part of the solution to it will be to spend what’s estimated to be trillions per year on cutting and mitigating emissions. The ability of the financial industry to raise and allocate money has got the political classes’ attention. Former US presidential candidate John Kerry – now the United States’ first-ever special presidential envoy for climate  –  and Luxembourg financial minister Yuriko Backes on Wednesday discussed Luxembourg’s role.

This Luxembourg edition of IO Talks hears about the latest developments in the realm of blockchain technology in the asset management and investment industry.