Secteur

Le groupe Indosuez Wealth Management a signé un accord en vue d’acquérir une participation majoritaire dans Degroof Petercam. L’actionnariat de la plus grande banque privée de Belgique avait déjà connu plusieurs remaniements au cours des derniers mois. 

A positive performance in global financial markets stemmed net capital outflows in Luxembourg during the month of June, leaving the grand duchy’s investment funds with a net positive balance of 35.191 billion euro at the end of the month, according to data from financial supervisor CSSF.

The increase represents the balance of negative net capital investments - or outflows - of 15.302 billion euro and of the positive development of financial markets amounting to 50.493 billion euro.

Investment managers are shifting fund investments towards Exchange Traded Funds (ETFs) at the expense of traditional mutual funds. The shifts are clearly visible both in Ireland and Luxembourg, Europe’s two leading hubs for ETFs, according to insights from LSEG Lipper. BlackRock was the biggest-selling fund promoter in the first half, accounting for more than half of all European ETF inflows.

It was June 2014, and I was flying back from Lisbon for an exciting interview at J.P. Morgan Bank Luxembourg. Landing this job would validate that getting a master’s degree was worth it. I was thrilled about being part of our fund industry.

There could be no delays in my travel plans. I was scheduled to land at 13:15, and the interview was set for 14:00. Fortunately, a friend picked me up, giving me enough time to put on my suit and share my excitement about interviewing for a leading bank.

Negotiators from the European Council and European Parliament have reached a provisional agreement on new rules aimed at enhancing European capital markets and bolstering investor protection within the EU. The deal, reached during the early hours on Thursday, includes consensus on leverage limits and passporting rules for Loan Originating Funds (LOFs), marking a significant milestone in the regulatory landscape.

Cyprus has emerged as the primary location for firms offering cross-border investment services to retail clients in the European Union and European Economic Area, accounting for 23 percent of the total firms providing passported services. Luxembourg and Germany followed closely, representing 16 percent and 13 percent of all firms, respectively, according to an analysis conducted by European Securities and Markets Authority (Esma) and national competent authorities (NCAs).

The 60-seat Luxembourg parliament has finalised its adoption of a major upgrade of five investment laws, making its popular international framework for investment funds even more attractive for new types of funds coming into the market, in particular Eltifs. The industry has widely welcomed the changes, with one ManCo CEO describing them as “an evolution rather than a revolution.”

Nicolas Mackel, the CEO of the Luxembourg for Finance development agency Luxembourg for Finance and considered as the de facto ambassador of Luxembourg’s financial sector, speaks to Investment Officer’s Raymond Frenken in this IO Talks podcast.

Luxembourg’s parliament, with 55 votes in favour and only two against, has embraced a highly anticipated law that revamps its legislative arsenal for investment funds. Several fund categories, including European Long Term Investment Funds (Eltifs) and money market funds, are to be exempted from the registration tax imposed on Luxembourg-domiciled funds.

Catalysé par les nombreux bouleversements sociaux, technologiques et économiques actuels, le mouvement de consolidation amorcé parmi les gérants d’actifs va s’intensifier au cours des quatre prochaines années, exerçant une « pression existentielle » sur le secteur. Un acteur sur six aura disparu d’ici 2027.