Luxembourg 2014

YouthConcerns are growing that Luxembourg’s negative rating for tax transparency standards will scare off supranationals and large institutional investors. Stefanie Eschenbacher finds the move is perceived as a politically motivated one.

SqueezeAsset managers may have to raise the total expense ratios on their funds as the cost of regulation is squeezing their margins. Stefanie Eschenbacher reports on the cost implications of Ucits V and the Alternative Investment Fund Managers Directive.

FriendsThe Ucits regime is speeding ahead of itself. As it enters its sixth phase, increasing complexity means there is a need to consult more with non-European regulators, Nick Fitzpatrick finds.

Camille ThommesLuxembourg has been sidelined in Hong Kong’s mutual fund recognition agreement with China. Camille Thommes of the Association of the Luxembourg Fund Industry talks to Stefanie Eschenbacher about the future of Ucits, alternative investment funds and socially responsible investment.

The Grand Duchy’s new government, Ucits fund governance, and costs are some of the topics debated by our industry panel. Edited by Nick Fitzpatrick.

Jean-Daniel ZandonaA consensus is developing about the outcome for Europe’s funds industry in light of retrocession bans, says Jean-Daniel Zandona, director, sales management & fund solutions, at Credit Suisse.

PillarsBehind the hullabaloo of its Ucits industry and the emerging AIFMD sector, Luxembourg is building a third ‘pillar’ based on responsible investment. Nick Fitzpatrick reports.

Trapeze womanRisk profiles of alternative investment funds are completely different than those for Ucits products. This is an issue vital to the success of the AIFMD brand, say Norddine Bennani and Dominique Marchal, of Bennani & Marchal Associates.

Asset managers need the help of asset servicers as the Alternative Investment Fund Managers Directive, Ucits V and a whole lot of other regulation hits the industry. The participants of our roundtable in Luxembourg discuss in which areas their clients lag, where the limitations of their help is and how blind dating – introducing clients to a corporate network – is becoming increasingly popular. Edited by Stefanie Eschenbacher.

Sponsored Profiles

SPONSORED FEATURE: Alternative thinking

Mar 16, 2017

Portfolio Manager Davide Cataldo discusses the results of the Pioneer Investments’ survey on liquid alternatives and how investors can be encouraged to increase their allocation.

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Mar 16, 2017

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SPONSORED FEATURE: Why blockchain could be the fund industry’s next Ford Model T

Mar 16, 2017

Blockchain aims to radically change the way investors can access funds, says Olivier Portenseigne, Managing Director and Chief Commercial Officer of Fundsquare.

SPONSORED FEATURE: Open architecture: In need of protection

Mar 16, 2017

Greater efficiency must be embraced to ensure regulatory changes do not destroy choice for fund buyers, says Bernard Tancré of Clearstream.

Executive Interviews

INTERVIEW: Finding managers that can (and do)

Apr 18, 2017

Fabrice Kremer, a fund selector at Banque de Luxembourg Investments, has berated fundamental managers for failing to beat indices, but he remains committed to active funds. He speaks to Nick...

JERSEY INTERVIEW: ‘A steady sort of place’

Mar 21, 2017

The chief executive of Jersey Finance is keen to portray the island as a stable, trustworthy jurisdiction. He talks to George Mitton.

Roundtables

ROUNDTABLE: The issue is perception

Mar 21, 2017

Our panel discuss tax transparency, the elegance of private placement and why Jersey could do more to promote itself. Chaired by Tom Cowsill in Saint Helier.

ASSET SERVICING ROUNDTABLE: Under pressure

Mar 07, 2017

Funds Europe speaks to leading Luxembourg industry figures about the growing regulatory demands on asset servicers and how to remain profitable in spite of major investments in technology.