Investment Officer Luxembourg

Jersey-based management company Crestbridge said it has appointed Anne Catherine Grave as country head of Luxembourg. The firm has been active in the Grand Duchy since 2010.

Grave will be responsible for leading the business in the region and will provide administrative, accounting, reporting, residency, and governance needs to a broad range of fund structures. She will be based in Luxembourg. Grave has more than 20 years’ experience in the private equity and real estate sectors.

Financial markets expect a further increase of 140 basis points in European Central Bank interest rates by the end of the year, suggesting a steady path of increases of half a percent per six-weekly meeting. Worsening economic conditions in the coming months could however lead to an early shortening of the tightening cycle. It is balancing on a thin rope, investors and strategists tell Investment Officer.

A European screening exercise of prospectus approvals that involved Luxembourg’s financial supervisor CSSF has concluded that EU regulators need to be more efficient in their assessments and that more clarity needs to be provided on the use of  “additional criteria” that national supervisors apply.

The earnings season has only just begun, but we are already seeing some examples of what will become a trend: fewer companies beating expectations.

Investors like to be positively surprised, so companies tend to be overly cautious in their expectations so as not to disappoint those same investors. But when the economy is heading for recession, expectations are met less often and this earnings season is probably the first indication of this.

Apex Group on Monday said it has been appointed to provide corporate, administrative and trustee services to the Nasdaq-listed Luxembourg platform of Eqonex Limited, a digital assets financial services company. Eqonex recently launched an Exchange Traded Note  in bitcoin on Frankfurt’s Xetra market.

With a first-half loss of 7 percent when measured in euro, the GBI-EM Global Diversified Index, the benchmark for emerging market bonds, was by no means the worst student in its class.

The past six months have been one of the toughest for bonds ever. Especially long-dated bonds have taken a beating. The Bloomberg Euro Aggregate 10+ Year index fell by no less than 23.6 percent while the Bloomberg Euro Aggregate 1-3 Year index was “only” 2.9 percent lower.