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Date
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August 7, 2025
News

Border no longer defines Luxembourg’s financial workforce

Long reliant on cross-border labor from Belgium, Germany, and especially France, Luxembourg’s financial sector has reached a demographic milestone. As of 2024, a majority of the sector’s workforce now lives in Luxembourg. According to the State of the …
August 7, 2025
Transfers

Transfers: Alter Domus, State Street, Ogier, Arendt, Citi, Triodos

This week’s overview of people transfers and appointments includes updates from Alter Domus, State Street, Ogier, Arendt, Citi Securities Services, Triodos Bank and Utmost Group. Alter Domus Isabel Gomez Vidal has been appointed chief commercial officer …
August 7, 2025
Opinion

In the long run, optimists still win

Recent months have been eventful for the markets. Despite political and geopolitical turmoil — and numerous warnings — equities have recovered following the sharp correction earlier this spring. Market commentators are puzzled by the resilience and …
August 6, 2025
Fund Interview

Carmignac’s flagship fund stages a comeback, without the crowd

After years of disappointing returns, Carmignac's flagship Patrimoine fund is showing signs of recovery.  In the first half of 2025, the fund outperformed its benchmark by 9.5 percent. Yet investor scepticism persists: the fund still saw net outflows of …
August 6, 2025
Opinion

Déjà vu: from Internet revolution to AI revolution

Last week’s disappointing US labour market data do more than just reignite the debate about interest rate cuts. They open the door to a scenario that bears a striking resemblance to 1998, the year in which pre-emptive rate cuts by the Federal Reserve …
August 5, 2025
Asset Allocation,Investing

Dutch pension funds are rethinking government bonds

As the Netherlands transitions to a new pension system, one of the world’s largest institutional investor groups, collectively managing nearly two trillion euros, is quietly preparing to pivot away from long-dated government bonds.  This shift, driven by …
August 5, 2025
Taxation

WTax: The hidden cost of extra time

Longer withholding tax reclaim windows can be useful but faster recoveries deliver better results than relying on default timelines. Acting early allows investors put recovered cash to work sooner. In my previous contribution , I covered Taiwan’s recent …
August 4, 2025
Technology

Luxembourg lays foundation for a digital sovereign debt strategy

Luxembourg has taken a new step in modernizing its sovereign debt with the issuance of fully digital treasury certificates based on blockchain technology. Limited to 50 million euro, the transaction of these six-month zero-coupon notes may seem like a …
August 1, 2025
Asset Managers

Morningstar: Allianz vs JP Morgan in multi-asset income funds

Allianz Global Investors and JP Morgan Asset Management take different paths to multi-asset income: one prioritises yield, the other favours balance. Morningstar compares their approach. Some investors seek regular payouts from their portfolios. While …
July 31, 2025
Opinion

Chart of the week: The Next Catalyst

Now that several major trade deals—however skewed and ambiguous—have been announced, markets are left searching for the next catalyst to keep the bull market alive. One likely candidate can be found in some rented office space in Washington. Following a …