Investment Officer Luxembourg

Private assets might have dropped significantly in value since the “good years” of 2020 and 2021, but despite a bad year in 2022, they’re still outperforming public market returns by quite a margin, explained Schroders Capital’s chief investment officer Nils Rode at his firm’s private assets 2021 outlook this week.  History shows that private assets investors could have a strong year in 2023 despite the bad overall macroeconomic conditions, he argued.

Intesa Sanpaolo Wealth Management has been created as a new Luxembourg private banking hub following the merger of its troubled Luxembourg unit Fideuram Bank Luxembourg with Compagnie de Banque Privée Quilvest SA, which it took over last year.

The European Investment Bank has issued its first natively digital bond denominated in British pounds. The EIB raised 50 million with the bond, which has a duration of two years and bears a floating rate of interest.

BNP Paribas, HSBC and RBC Capital Markets are the joint lead managers. The syndicate was advised by Allen & Overy. EIB was advised by Clifford Chance.

Macroeconomic pressure on Luxembourg’s real estate sector has translated into a lower volume of property sales, which is hurting the businesses of those who sell real estate properties – real estate agents. They are now screaming bloody murder. 

“The market is suffering,” said Jean-Paul Scheuren of the Luxembourg real estate chamber, speaking of the real estate market generally. “Everybody is like on hold, on hold, and also the demand is on hold.”

During my student days in the late 1980s, I was one of the few students who had access to an Apple II computer. A big difference between Apple’s word processor then and the average word processor on a PC was WYSIWYG, acronym for What You See Is What You Get. On the screen, the document was visible just as it was printed. Even then, Apple was way ahead of the competition. 

New York Life, America’s largest mutual life insurer, has named Naïm Abou-Jaoudé as chief executive officer of New York Life Investment Management.  Vincent Hamelink (photo), Candriam chief investment officer, will succeed Abou-Jaoudé as CEO of Candriam.

The collective value of Luxembourg investment funds has plunged more than 800 billion euro from record levels reached a year ago as inflation, rising interest rates and the war in Ukraine took their toll on assets domiciled in the grand duchy.

Fidelity International, via Luxembourg, is launching a new climate impact fund leveraging the need for improved performance of existing commercial real estate buildings in Europe. Investment Officer sat down with Aymeric de Sérésin, Fidelity’s director of European real estate investments.