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Date
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December 7, 2023
Asset Managers,Investing

AXA: Expectations of rate cuts, price cooling ‘reasonable’

Market expectations of central bank interest rate cuts in 2024 are reasonable, according to Gilles Moëc, the Axa group chief economist and Axa IM head of research, who presented Axa’s outlook for next year in Luxembourg this week. He painted a relatively …
December 7, 2023
Asset Managers,Investing

BlackRock defies market with interest rate forecast for 2024

BlackRock, during the presentation of its 2024 Global Outlook at its New York headquarters, indicated that the Federal Reserve is unlikely to cut interest rates until the second half of next year, a scenario the market currently sees as highly improbable. …
December 7, 2023
Opinion

Letting Ireland dominate ETFs is pure madness

On the 4th of September 1996, Luxembourg signed its most recent tax treaty with the United States of America. According to that agreement, Lux-based ETFs pay a 30% withholding tax on income received from US securities, as opposed to the 15% paid by their …
December 6, 2023
Family Offices

At Commenda, family assets strive to improve the world

Where "old money" mainly sought to leave wealth intact, "new money" is going out into the wide world - to make that world a better place. Frederik Redelé, managing director of Amsterdam-based multi-family office Commenda explained to our Dutch colleagues …
December 6, 2023
Sector,Supervision

CSSF: ‘Frozen accounts not to be seen as material issue’

The fact that financial institutions in Luxembourg have frozen some 86.000 investor accounts should not be regarded as a material issue because the Financial Action Task Force has not issued a recommendation on this topic, a senior official at the Grand …
December 5, 2023
News,Investing

Reality often outpaced fantasy in Saxo’s outlook calls

Saxo Bank's annual Outrageous Predictions, a brainchild of Steen Jakobsen, CIO at Saxo, have become a global phenomenon, intended to provoke thought and reassess investment strategies. Saxo Bank's Outrageous Predictions, including scenarios like the …
December 5, 2023
Asset Managers

Target-date ETFs break new ground in retirement plans

After a previous setback, BlackRock is launching new target-date ETFs, aiming at the vast market of Americans without pension plans, a move seen as promising for the self-employed. BlackRock is reviving its target-date fund ETF series with a fresh …
December 4, 2023
Sector,Supervision,Laws and Regulations,Technology

Fund sector battles rising compliance pressures

Investment firms are struggling with Anti-Money Laundering and Know-Your-Customer requirements, with one fund manager saying his AML/KYC team can’t grow fast enough. The push towards retailisation of private markets is only going to increase the stress. …
December 1, 2023
News,Wealth Managers

Barrels of profit: Scotch firm courts wealthy investors

Whisky asset manager Scotch Whisky Investments until recently focused mainly on private investors. That market continues as usual, but bringing in former ABN Amro director Eran Habets as CEO means more focus on selling to independent asset managers and …
December 1, 2023
Asset Managers

More Reifs prefer Raifs for Luxembourg real estate funds

Raifs - Reserved Alternative Investment Funds - are becoming an increasingly popular way to structure Reifs - Real Estate Investment Funds - with Raifs constituting 31 percent of the funds recently surveyed. The growth comes at the expense of SIFs - …