Apex wins Kayne Anderson Rudnick fund mandate
Apex Group said it has been appointed by Kayne Anderson Rudnick Investment Management to service its Australian fund. Apex, a Bermuda-headquartered global firm with a strong presence in Luxembourg, has been appointed to provide fund administration and transfer agency services to the Kayne Anderson Rudnick Global Small Cap Fund.
Economic impact of ESG finance hard to measure
To some spectators, many ESG funds engage in greenwashing, making little serious attempt to boost sustainability. To others, this movement is part of a woke agenda that unfairly bashes the energy industry. Yet, “not yet proven” is the conclusion of a new Luxembourg report about the effect of ESG investing on the global economy, and thus ultimately the environment and society.
As Europe gazes, the future is built elsewhere
While Europe is survival-mode as a result of a war and an energy crisis, the rest of the world is working diligently and purposefully for the future. A notable news item in this context received limited attention: Chinese President Xi Jinping’s visit to Saudi Arabia. During that visit, a straw fire was lit up that could eventually blow up the petrodollar’s omnipotence.
Markets ‘vulnerable to hawkish surprises’ as Fed, ECB meet
The European Central Bank on Thursday is poised to increase interest rates again. Economists and fixed income specialists expect a hike of 50 basis points - following two consecutive 75 point hikes - with markets watching for official signals that point towards further rate hikes next year.
Apex to support American Cancer Society impact fund
Apex Group on Tuesday said it has been appointed by BrightEdge LLC, the impact investment and venture capital arm of the American Cancer Society, to support the ACS Impact Venture Fund with fund administration services.
UBO public access ruling reflects morality debate
The EU court ruling ending public access to European ultimate beneficial owner registries lays bare a long-standing political-legal dispute in society over what sorts of interests should be paramount: jurisprudence or morality. As Luxembourg awaits a solution on restoring access for professionals, Investment Officer spoke to a number of legal specialists about the case.
Mousel to succeed Parkhouse at PwC Luxembourg
Francois Mousel has been elected as managing partner at PwC Luxembourg to succeed John Parkhouse from next July, the firm announced on Monday.
Parkhouse’s second four-year mandate will come to an end next year. During his tenure, the firm’s turnover rose to 543 million euro in the fiscal year ended 30 June 2022, from 315 million euro in 2014. During that period, PwC Luxembourg added approximately 600 staff, employing 3100 people at the end of last June. PwC is the largest among the big four auditors and consultants in Luxembourg.
ABBL, CSSF agree modernisation of banking supervision
After completing a similar transition last year for the supervision of investment fund managers, Luxembourg’s financial supervisors, in close cooperation with bank sector representatives, now have adopted a major modernisation of its banking supervision by overhauling what is known as the Long Form Report. Both banks and supervisors see the new approach as a major step forward.
Esma: Post-Brexit supervision CSSF, AFM ‘insufficient’
Supervisory practices in Ireland, Luxembourg and the Netherlands “appeared insufficient” during the years that Brexit pushed financial services away from the United Kingdom to EU member states, a peer review among European financial supervisors has found. Luxembourg’s supervisor disagrees with the review’s conclusions.
PGIM Investments: How To Gain Better Diversification
Michael Dicks, Chief Economist and Deputy Head of Research at PGIM Wadhwani, discusses why a long-only approach may not work to protect traditional portfolios in the coming year.