Secteur

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.

The European Fund and Asset Management Association (Efama) has declared that the European investment fund sector is not capable of undermining financial stability to the extent that it results in systemic risks.

Jean-Marc Goy, recently appointed as chairperson of Alfi, the Association of the Luxembourg Fund Industry, speaks to Investment Officer’s Raymond Frenken about his priorities for the association and about Luxembourg’s role as a leading European and global centre for investment funds.

« Ce partenariat nous offre un nouvel éventail d’options d’investissement. Nous avons également accès à la technologie et aux données de BlackRock. La taille de notre partenaire nous permet de réduire les coûts pour nos clients », explique Ludivine Pilate, CEO de Puilaetco.

With a clear vision in mind, Jean-Marc Goy, chairperson at the Association of the Luxembourg Fund Industry, Alfi, is determined to foster the growth of the Grand Duchy’s asset management sector by encouraging effective collaborations with diverse stakeholders, including regulators. “The common goal is to strike the right balance between investor protection, and not putting in the way of the industry too many hurdles and obstacles that would stifle innovation”, Goy said in an IO Talks podcast interview.

The world’s top body for the fight against money laundering on Friday said it has found a “high level of technical compliance” with global standards in Luxembourg. The Financial Action Task Force, or FATF still recommended that the Grand Duchy strengthens its measures in certain complex areas, in line with its risk profile as a regional and global financial centre. «Luxembourg has a very good idea of what it needs to do,» said FATF president T. Raja Kumar in response to a question by Investment Officer during a press conference in Paris.

With a few days to go before crucial EU talks that could lead to major reforms of the Markets in Financial Instruments Directive, known as Mifid, EU asset managers, banks, and brokers are urging policymakers not to succumb to pressure that could lead to “suboptimal outcomes” in the review.

Toutes les deux semaines, Investment Officer s’entretient avec un éminent professionnel du monde financier à propos de sa carrière, de sa vie et de ses passions. Cette fois-ci, c’est Rudi Deruytter, CEO de la banque CKV, qui regarde dans Le Miroir.