Investment Officer Luxembourg

Institutional investors every year miss out millions of euros because they do not recover  withholding tax paid abroad. The reason: suboptimal communication and cooperation between institutional investors and a “custodian” that does not or not always fully perform the service formally assumed.

Teodora Croitoru has joined Crestbridge as head of compliance, fund services, while Emmanuelle Poret has taken on the role of head of client onboarding, fund services & ManCo.

DWS, the asset management arm of Deutsche Bank, on Monday said that Olivier Dubost de Cadalvène, currently head of DWS in France, Middle East & Africa, has taken up the additional responsibility for Luxembourg. The appointment coincides with the appointment of Arjen Jonk as country head in Belgium and the Netherlands.

Luxembourg’s permissive environment for inducements and an acceptance of non-independent investment advice will make a good test case for the EU’s upcoming retail investment strategy. A fight is brewing over “kickbacks” as the European Commission finalises its effort to encourage Europeans to increase the level of their assets placed in investments.

Some 21 new Reserved Alternative Investment Funds, or Raifs, were registered at the Luxembourg Business Register during January, according to information made public at the end of the month.

The following funds have been registered:

The US economy created more than half a million jobs in January. That was almost three (!) times more than expected. Most importantly, such a job growth figure does not fit with a coming recession, but neither does it fit with a much hoped-for soft landing. On the contrary.

It indicates that the US labour market is still glowing even after 450 basis points of tightening.

Jersey-headquartered funds services and solutions provider Ocorian has appointed Peter Corry as head of global funds in Luxembourg as it continues to strategically grow and enhance its service to international fund managers.

As the European Parliament, during this month’s plenary session in Strasbourg, debated the proposed changes to the EU’s regulation for long-term investment funds, a plan also known as Eltif 2.0, Luxembourg was discussing a “lighter” special tax regime for this new type of fund that can target investors in 30 European countries under a single passport.

The European Securities and Markets Authority, the EU’s financial markets regulator and supervisor known as Esma, on Thursday warned investors that they should prepare for further market corrections, given a “confluence of high risks”.