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April 23, 2020

Welcome to investmentofficer.lu

Welcome to investmentofficer.lu, a brand new publication dedicated to Luxembourg’s fund industry. With the launch of investmentofficer.lu, our platform is now active in all three Benelux countries.  We started in August 2008 in the Netherlands with …
April 22, 2020
Asset Allocation,Investing

'Lack of guidance requires top-down approach'

The earnings season has started in Europe. But it's a rather strange one. 'All companies have stopped issuing guidance,' observes Gilles Guibout, head of European shares at AXA IM. 'That makes it difficult for bottom-up investors. So more than ever, we …
April 21, 2020
Private Banks

Covid-19: one more hit for embattled private banks

Equities – down. Fixed income – down. Precious metals – down. Commodities – down. These have been a strange, potentially frightening few weeks for all investors, including private bankers. Already before the current coronacrisis, Luxembourg’s private …
April 21, 2020
Asset Servicing

Morningstar acquires Sustainalytics

Investment data and research provider Morningstar is acquiring full ownership of Sustainalytics, the ESG ratings agency. Morningstar already owned a 40%-stake in the company. The transaction includes a cash payment of €55 million and additional cash …
April 20, 2020

CSSF steps up fund monitoring to prevent liquidity squeeze

European regulators are trying to prevent a liquidity crisis caused by excessive outflows from investment funds in the wake of the coronavirus crisis. The CSSF has joined other European regulators in asking asset managers for large amounts of information …
April 19, 2020
Asset Allocation,Investing

Investors kept in the dark as earnings season starts

The first US earnings results came in published last week. As always, the major banks were first, showing disappointing results and withdrawing guidance for the second quarter. The consequence: analysts look into a black hole of uncertainty.  The largest …
April 19, 2020

‘CSSF fails to enforce fund regulation’

The CSSF is facilitating the defrauding of investors by failing to timely enforce regulation on funds, says David Mapley, director of the LFP 1 Equity Power Fund. Mapley (pictured) runs several Luxembourg-domiciled funds, known as LFP I, that were …
April 17, 2020

Luxembourg banks find new growth niche

Despite a Brexit-inspired influx of banks to Luxembourg, the number of banks active in the country is dwindling. At the same time however, many of the remaining banks keep growing their revenue thanks to an increasing focus on ultra-high net worth …
April 16, 2020
Asset Allocation,Investing

‘Recession creates entry opportunities for private equity’

The real impact of the corona crisis on private equity valuations has yet to become visible, but it’s already time to look for new direct and co-investments. ‘Past experience has shown that post-crisis years are often good vintage years for new private …
April 16, 2020
Asset Allocation,Investing

BlackRock advises: Sell US Treasuries

The Federal Reserve is by far the largest single owner of US government bonds. If the Fed continues its buy-back policy at its current pace, all US government debt will be in the hands of the central bank in less than two years' time. That's a good reason …