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Date
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September 19, 2023
Sector

FX specialist Monex aspires bigger presence in PE, funds

Monex Europe S.A., a commercial foreign exchange specialist, has relocated to a larger office in downtown Luxembourg to accommodate its growth and future expansion plans and ambitions to expand its services in private equity and investment funds. The …
September 19, 2023
News

Retired Ray Dalio clashes with Bridgewater over comeback

Performance of Bridgewater Associates' flagship Pure Alpha Fund falls short, raising speculation that the hedge fund's founder, Ray Dalio, may come out of retirement to regain control, much to the dismay of the new CEO. Although Dalio retired in 2022, he …
September 19, 2023
Private Banks

With BlackRock, Puilaetco sets sights on next generation

As Puilaetco, a subsidiary of Luxembourg-headquartered Quintet, nears the final stages of a high-profile partnership with BlackRock, the world’s largest asset manager, the Belgian private bank is setting ambitious, forward-looking objectives. The …
September 19, 2023
Asset Managers,News

Private debt leads unregulated funds surge in Luxembourg

According to a recent study by Monterey Insight, Luxembourg's fund landscape is undergoing a seismic shift. The 29th edition of the Monterey Insight Luxembourg Fund Report reveals that unregulated funds are outperforming their regulated counterparts in a …
September 18, 2023
Asset Managers

Amundi shifts €6.57 bln in ETFs to Ireland

Amundi is continuing to transfer Exchange Traded Funds (ETFs) with exposure to U.S.-based companies from Luxembourg to Ireland. A significant part of this migration, involving €6.58 billion across two ETFs, was announced last week. The latest …
September 18, 2023
Supervision

Mandates of top CSSF supervisors Zwick, Wampach extended

Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) announced on Monday that Marco Zwick's mandate as the director in charge of supervising investment funds has been renewed for an additional five years, effective from September 1, 2023. …
September 18, 2023
Private Banks

Warburg aims for €300 mln with real estate debt Raif

Hamburg-based private bank M. M. Warburg & Co has announced the launch of its first real estate debt fund, WB Urban Real Estate Finance I, a Luxembourg-registered reserved alternative investment fund, or Raif, for institutional investors. The fund targets …
September 18, 2023
Family Offices

Truncus leads in Belgian multi-family office rankings

"We are a recognizable and accessible face for our clients. We are not product pushers but focus on concrete goals," said Stefaan Vanden Berghe, CEO of Truncus.  For several years, Truncus has been featured on Chambers & Partners' list of top wealth …
September 18, 2023

Chart of the Week: Excess savings

I am intrigued and—admittedly—surprised by the robustness of American consumer spending. I understand that wage growth has been substantial, but inflation has risen even more. While nearly everyone in the U.S. has a job (or two or three), it hardly …
September 17, 2023
Asset Managers,Asset Servicing

‘Distribution is still key to the success in asset management’

Upcoming legislation bringing challenges to the fund distribution industry – notably adding reporting requirements and increasing costs – will be a key focus on Wednesday's Global Distribution Conference of the Association of the Luxembourg Fund Industry, …