Panel d'experts

Donald Trump’s comeback in American politics is a reality. With a strong mandate from voters and a Republican-controlled Congress, he now has more leeway than in his previous term. Bond investors have reacted cautiously to last week’s election outcome.

L’élection de Donald Trump suscite un certain nombre d’incertitudes. Il faudra attendre d’obtenir davantage de convictions sur le cours que le nouveau président va adopter concernant certains thèmes cruciaux pour connaître l’impact du verdict des urnes sur l’économie américaine, le commerce international et les tensions géopolitiques. Cela n’a toutefois pas empêché les petites capitalisations américaines d’anticiper le scénario le plus favorable pour elles.

The Dutch regulator the Authority for the Financial Markets (AFM) has investigated managers who make use of an exception to the licensing obligation in the Dutch Financial Supervision Act (Wft) and only fall within the ambit of a registration obligation. These are the «small» managers (the «light managers»).

The election of Donald Trump as President of the United States brings a range of uncertainties. Only once more clarity emerges about the course that will be taken on key issues will the full impact of this election result on the U.S. economy, international trade, and geopolitical tensions become clear. However, this did not prevent investors in U.S. small-cap stocks from taking a speculative advance on favourable scenarios for them.

Martin Groos unpacks the journey of the European Long-Term Investment Fund (Eltif) since its promising launch in 2015, and explores whether recent reforms under «Eltif 2.0» will finally deliver success.

Les fonds d’allocation flexibles disposent généralement de multiples possibilités d’adapter leur allocation d’actifs. Leurs gestionnaires ont en outre la liberté d’ajouter au portefeuille des catégories d’actifs alternatives – souvent, de l’or.

Flexible allocation funds typically have broad latitude to adjust their asset allocation. Additionally, their managers have the freedom to add alternative asset classes to the mix, with gold being a well-known option.

Two months remain before the Digital Operational Resilience Act (Dora) comes fully into force in January 2025. A CSSF survey launched this summer has revealed that the compliance process for most entities is ongoing, but challenges remain regarding resources, dependencies, delays, and contractual negotiations.

Spreads on high-yield bonds are tight, and the fundamentals of high-yield look strong. Taking (credit) risks has clearly paid off this year.

The recently enacted NPL law in Luxembourg brings critical updates to credit servicing and purchasing, writes Sebastiaan Hooghiemstra at Loyens & Loeff Luxembourg in their latest contribution as member of Investment Officer’s panel of experts.