CSSF drafting EU best practice for handling NAV errors
Financial regulators across Europe are keeping a close eye on their Luxembourg counterpart CSSF, which is reviewing its rules that tell investment firms how to handle errors in calculations of Net Asset Values, or NAVs. “I think that we may consider the CSSF approach as a best practice.”
ODDO BHF AM: ODDO BHF AM Investment Strategy: Gale or hurricane?
For investors at least, the summer this year ended in Jackson Hole, Wyoming, at the annual conference of central bankers and academics.
Chart of the Week: Housing as the next domino
Activity in the US housing market is rapidly declining. New home sales fell more than 12 per cent in July, the biggest drop since February last year. It was also the sixth decline in seven months. Compared to the peak, 51 per cent fewer new homes were sold.
Fuchs pressed into action on compliance, IT problems
Following 1.55 million euro in regulatory fines, Luxembourg investment firm Fuchs & Associés Finance SA is stepping up efforts to address internal compliance problems, adding additional directors and compliance staff to bring its governance back in line with legal requirements.
Morgan Stanley IM: Proxy Voting - Nudging Progress
Proxy voting is both a privilege and a responsibility. With increased attention paid to it by company boards and management, Vladimir Demine discusses the role proxy voting can play in enhancing long-term investment returns, and the challenges to effective voting that remain.
PGIM Investments: Are We There Yet For Growth Stocks?
Jennison Associates believe the growth potential for secular growth stocks is improving amid the slowing economy.
Best of the week: Buying a Rome hotel with a Raif
This week on Investment Officer Luxembourg again demonstrated that the Grand Duchy can be a source of financial stories of a surprising nature. Bill Gates’ new hotel is being financed with an alternative investment fund registered in Luxembourg.
Morningstar's Top 5: Fidelity leads defensive mix funds
It has been a challenging period so far for both equities and bonds in 2022. The era of loose monetary policy is over as inflation races around the world, leaving policymakers with no choice but to raise interest rates and scale back bond buying programmes.
CSSF finds AML compliance shortcomings at Maitland
Luxembourg’s financial regulator CSSF has found shortcomings in the application of measures to fight money laundering and terrorism finance at fund services provider Maitland Luxembourg SA and issued a fine of 266,000 euro.
Merit Capital is subject to criminal probe, linked to H2O
Belgian police authorities have launched a criminal investigation in Antwerp-based stockbroker Merit Capital, a Belgian press report said on Thursday. The probe is linked to its transactions with H2O Asset Management.
Merit Capital’s future is up in the air after several attempts to find a buyer failed. Luxembourg’s Fuchs & Associés was forced to step back as a possible buyer last month.