Renell Bank silent on Merit Capital’s demise
Frankfurt-based Renell Bank AG, which publicly announced the acquisition of Belgium’s Merit Capital last October, remained silent on Monday on the demise of the Antwerp-based brokerage firm whose trading licence is being revoked.
Marc Renell, CEO of the German private bank, told Investment Officer that he is unable to comment. “I cannot speak about this topic. Go ask Merit in Antwerp,” he said when answering the bank’s general number listed on its website, before hanging up the phone.
Raif registration growth tails off, but still steady
Growth in funds registered as Reserved Alternative Investment Funds (RAIFs) in Luxembourg has slowed in February and March, according to a data analysis by Investment Officer Luxembourg.
PGIM Investments: Moderating Growth Expectations Amid Continued Uncertainty
Rising rates and geopolitical turmoil are dampening global growth expectations. Jennison Associates, PGIM’s fundamental growth equity manager, examines the short-term implications—and reveals why long-term fundamentals remain intact for now.
As everyone flees, Buffett's Berkshire Hathaway steps in
It was one of the worst stock market quarters in a long time, but Warren Buffett did not stare like a rabbit in the headlights. He seized the correction to buy more than 41 billion dollars worth of promising and punished shares. Result: his investment vehicle Berkshire Hathaway outperformed the S&P 500.
Amundi assets top 2 tln euro, buoyed by ‘robust’ inflows
Although it noted a “sharp slowdown” since the outbreak of the war in Ukraine, Europe’s biggest asset manager Amundi saw its assets under management top 2,000 billion euro during the first quarter, buoyed by the integration of Lyxor and persistent inflows from retail clients.
Amundi, part of the Paris-based Credit Agricole group, said on Friday that its assets under management rose 15 percent to 2,021 billion euro in the first quarter when compared to the same period a year earlier.
Top 5 High Yield bond funds: UBS in the lead
As expected, 2022 looks set to be a turbulent year for fixed income assets. High-yield bonds shared in the blows dealt in the first quarter.
Luxembourg supports single EU supervisor for markets
The European Union needs to establish a single supervisory body for financial markets in order to boost the development of market finance towards creating a true single European financial market and turning the widely-discussed Capital Markets Union plans into reality. “We should not hide away from some unpleasant truths,” said Yves Mersch, former ECB board member.
Wagener to retire as LuxSE chair, Grbic in charge at ABBL
Two of Luxembourg’s top financial bodies are undergoing changes in key leadership positions. Former Fortuna Bank CEO Jerry Grbric this month took over from Yves Maas as chief executive officer of the Grand Duchy’s banking association ABBL, while Frank Wagener, long-time chair of the board of the Luxembourg Stock Exchange, will retire in May.
Investing in Nasdaq without Big Tech
The Nasdaq now trades more than 20 percent below last November’s high. With Big Tech remaining under downward pressure, other parts of the Nasdaq look promising.
There has actually been a correction phase since February last year. First in the more speculative parts of the market, such as technology companies that are not making profits, SPACs or software companies with extremely high valuations.
‘We tried to civilise Russia. We did not succeed.’
In a world where new powers, forces and risks are emerging, it is time to reset the EU’s common foreign and defence policy, says Joachim Bitterlich. Chancellor Helmut Kohl’s chief advisor talks to Investment Officer about what a lack of realpolitik brings about. “How do we ensure our economic independence in a world with challenges like China, Russia and Africa? It is about raw materials, trade relations, investments and avoiding dependencies.”