Panel d'experts

Yields on 10-year US treasury bonds and government bonds in Europe remained high coming into 2025, and continued with 2024’s historically tight spread levels versus corporate credit. Still, some investors appear reluctant to take large directional macro bets as uncertainty around the possibility of policy changes in the US remains high.

MiCA is here, but what exactly is a crypto asset? ESMA’s latest guidance clarifies the line between MiCA and MiFID II—but uncertainties remain in digital asset classification.

The global government bond Morningstar category, launched in October 2024, reflects a growing fund landscape with 117 distinct offerings as of February 2025. Divergent economic structures, policy responses, and political backdrops shape investor sentiment.

Lorsqu’il s’agit d’attirer les meilleurs banquiers privés, la concurrence s’intensifie et les atouts que peuvent mettre les banques dans la balance lors des négociations jouent un rôle de plus en plus important. Le salaire brut d’un personal banker pouvant se targuer de dix ans d’expérience s’établit à 65 000 euros ; il peut monter jusqu’à 120 000 euros pour les private bankers avec la même expérience.

L’investissement durable traverse une période difficile depuis 2021, après avoir connu un essor sans précédent. Dans l’ensemble, les investisseurs ont encore investi dans des fonds durables, mais à un niveau nettement inférieur à celui des années fastes.

Sustainable investing has faced a challenging period since 2021, following years of seemingly unstoppable growth. While investor capital has continued to flow into sustainable funds, the pace has significantly slowed compared to the boom years.

Le secteur des services financiers constitue un univers diversifié dans lequel les investisseurs ont l’embarras du choix. Les banques et les assureurs traditionnels, mais également les sociétés opérant des transactions financières, les Bourses, les marchés de capitaux et la gestion d’actifs font également partie du large éventail d’opportunités d’investissement.

Investors have plenty of choices. The financial services sector encompasses a diverse universe from which portfolio investors can make their selections. Traditionally, banks and insurers dominate, but companies involved in payments, stock exchanges, capital markets, and asset management are also part of the broad range of investment opportunities.

Allocation funds have fallen out of favour with investors since their weak performance in 2022, and in 2023, the classic equity-bond mix portfolio was even declared dead in some quarters. This proved premature, as these portfolios have performed well in recent years.

Luxembourg’s CSSF has issued its first SFDR compliance sanction, marking a shift to enforcement. Asset managers, take note—ESG disclosures must be accurate, clear, and aligned with investment policies, write Claire Guilbert and Cyril Clugnac at Norton Rose Fulbright.