Investment fund sales turn negative in second quarter
Rising inflation, the tightening of monetary policy, Russia’s invasion of Ukraine, and the resulting risks to economic growth have caused sales of investments funds defined as Undertakings for Collective Investments for Transferable Securities, or Ucits, to turn negative in the second quarter, according to the European Fund and Asset Management Association, known as Efama.
Apex buys Canada’s Prometa Fund Support Services
Apex Group, a fund services provider with substantial operations in Luxembourg, on Thursday said it has acquired Prometa Fund Support Services Inc., a Canada-based provider of fund services. Financial details were not disclosed.
AXA IM: How different inflation paths may impact inflation strategies
When inflation might peak should continue to be a hot debate into the end of the year - and investors may need to consider how their inflation strategy may need to adapt to these changing market conditions.
Canada’s top pension fund takes Uni Investment stake
Canada’s main pension fund, CPP Investments, has agreed to become a major shareholder in Universal Investment, a leading third-party Super ManCo in Luxembourg, by acquiring a significant stake in the firm from private equity and venture capital firm Montagu. The deal demonstrates that investors worldwide see further potential in Luxembourg’s growing asset services market.
Degroof Petercam participates in capital increase at Quadia
Degroof Petercam on Wednesday said it has strengthened its partnership with Swiss-based impact investor Quadia by participating in a capital increase. Financial details were not disclosed.
Following the capital increase, Basel-based Hanaku AG becomes a new strategic shareholder next to Degroof Petercam. Hanaku is a net zero emission focused Swiss holding company specialised in energy transition through infrastructure and finance.
‘Make no mistake: the next six months won’t be pretty’
The era of negative interest rates on government bonds is over, but the moment when government bonds will again generate both portfolio protection and returns is still far away. Especially in Europe, the situation is tough. The ECB has its hands tied. The need to save Italy means Eurozone interest rates can only rise so much. “Make no mistake about it: the next six months won’t be pretty.”
ECB to raise eurozone rates, but should it really?
Most economists, fixed income analysts and investment strategists agree that the European Central Bank on Thursday will raise interest rates. The key question is: will the hawks get their 75 basis point hike? Or will doves be heard with a 50 point increase? Some still question if hiking rates into a recession is the right thing to do.
Firms reluctant to discuss sustainability with clients
One month after the EU ordered the investment sector to ask clients for their sustainability preferences, investment firms appear to show limited enthusiasm for complying with the new requirements as complexity around the EU’s ESG rules persists and greenwashing fears linger.
Fuchs fined €1.02 mln as CSSF finds lack of internal controls
Financial supervisor CSSF has imposed two fines totalling 1.015 million euro on Fuchs & Associates after an on-site inspection found that the Luxembourg management company did not comply with laws for internal controls and EU requirements under the Mifid rules.
Romain Swertvaeger named as head of fintech at EY
Romain Swertvaeger has been appointed as head of fintech at EY Luxembourg. He takes over from Gaël Denis, who earlier was appointed as chief operating officer at the firm.
Swertvaeger will lead EY’s fintech practice, which provides services ranging from digital transformation, process management, regulatory compliance and audit, fundraising and valuation support, to tax services and technology risk management.