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Date
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June 21, 2023
Sector

‘Investment law needs to clarify suspension policies’

Luxembourg’s parliament needs to make sure that its proposed update for the Grand Duchy’s law on investment funds will provide more clarity on how fund redemptions, and in particular suspensions, are to be treated by its national regulator CSSF, the …
June 21, 2023
Asset Managers,Wealth Managers,Asset Servicing,Investing

Valuation adjustments lead to a lacklustre Raif market 

Fewer new reserved alternative investment funds are being registered in Luxembourg this year as investment managers are more cautious and VC fundraising has declined. Investor appetite appears reduced but has not disappeared. Dry powder is said to remain …
June 20, 2023
Asset Managers,Supervision,Asset Servicing

Naming rules divergence in ETF hubs creates confusion

In Europe's two largest ETF hubs, Luxembourg and Ireland, different rules govern the naming of Exchange Traded Funds (ETFs). While European rules for ETF naming conventions are determined by Paris-based authority ESMA, the implementation by national …
June 20, 2023
Asset Allocation

Allianz CIO: ‘Monetary policy is really starting to bite’

The Federal Reserve's predicted interest rate peak between 5.5% and 5.75% has left many asset managers uncertain about their rate forecasts for the second half of the year. However, Franck Dixmier, the global CIO at Allianz Global Investors, is undeterred …
June 19, 2023
Asset Managers

ALFI appoints Capital Group’s Jean-Marc Goy as new chair

Jean-Marc Goy has been appointed as the new Chairperson of the Association of the Luxembourg Fund Industry (ALFI), the industry body announced on Monday following its annual general meeting. Goy is a board member at Capital Group Luxembourg. Before …
June 19, 2023

Sandro Pierri of BNP Paribas AM elected EFAMA president

During a annual general meeting in Amsterdam on Friday, Sandro Pierri, CEO of BNP Paribas Asset Management, was elected as the President of European fund and asset management association EFAMA for a two-year term until June 2025. Pierri, who has been the …
June 19, 2023
Platforms

LuxSE books €170 mln gain on Fundsquare sale

The Luxembourg Stock Exchange, also known as LuxSE, has booked a one-time gain of 170 million euro on the sale of its data subsidiary Fundsquare, it said following its annual general meeting on Friday. The sale of Fundsquare to FE fundinfo, a London-based …
June 19, 2023

Emir 3.0: mandatory clearing presence in EU stirs debate

The trade clearing industry generally likes the EU market trading rules’ proposed update, but it has much less enthusiasm about a provision based on the policy’s plan to take back control of EU trading in the post-Brexit context. Experts at an Efama event …
June 19, 2023
Investing,Opinion

Artificial inconsistencies

I'm a big fan of the Bank of America Global Fund Manager Survey. Firstly, because it pertains to the positioning and perspectives of real investors managing significant amounts of money. And secondly, because Bank of America tries to translate the …
June 16, 2023
Private Banks,Wealth Managers

‘Crédit Agricole, ABN, Swiss to bid for Degroof Petercam’

Crédit Agricole, ABN Amro, and "one or two Swiss private banks" have been named as finalists in the bidding process for the acquisition of Belgian wealth management and investment bank group Degroof Petercam, French business daily Les Echos reported on …