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Assets under management of Luxembourg domiciled funds reached EUR3,006.76 billion at the end of September 2014.
This represents a 14.97 per cent increase since the beginning of this year and is mainly due to net sales.
Marc Saluzzi, chairman of the Association of the Luxembourg Funds Industry (ALFI), says: “Assets under management have steadily increased since September 2013, and whilst with volatile markets assets under management actually may drop, it is encouraging both that investors have confidence in investment funds generally and that fund promoters continue to choose Luxembourg as a domicile.
“Luxembourg remains the most prominent international
- 27/10/2014
Lombard Odier Investment Managers (LOIM) has built a long/short strategy across asset classes aimed at improving risk-adjusted returns with a low correlation to traditional investments.
LO Funds – Alternative Risk Premia, a long/short fund, is designed to help in today’s environment of declining markets and uncertain prospects, where investors find the search for returns increasingly hard. Investors also need liquidity and cost-efficiency from their portfolios and know that exposure to traditional asset classes may correlate just when they need to be diversified.
By applying an Alternative Risk Premia approach with the ability to go systematically long and short, LOIM
- 27/10/2014
By Jason Brandt (pictured) – Visionary service providers are always attuned to jurisdictions which provide a healthy and active client base within an environment that supports their operations. Establishing a presence at just the right time is as crucial as having a unique product offering, with newcomers competing to set themselves apart from the entrenched, native firms.
For clients, discovering a local provider for their fund administration needs within a trusted centre of excellence is an important tool in their business strategy, for a variety of reasons, not the least of which is simply having someone on the ground and
- 27/10/2014
Former hedge fund manager Rajarengan “Rengan” Rajaratnam has agreed to pay more than USD840,000 and accept securities industry bars in order to settle the Securities and Exchange Comission’s (SEC) insider trading case against him.
The SEC filed civil charges in March 2013 against Rengan Rajaratnam for his role in the widespread insider trading scheme conducted by his brother Raj Rajaratnam and hedge fund advisory firm Galleon Management.
The insider trading occurred in securities of more than 15 companies for illicit gains totalling nearly USD100 million. The SEC has now obtained court judgments or settlements in Galleon-related enforcement actions against 35
- 27/10/2014
PwC Luxembourg is the leading professional services firm in the country with around 2,400 people. Similarly, its Real Estate and Infrastructure team is the largest multidisciplinary team of specialists in the Grand Duchy with more than 250 experts supporting global real estate managers; these range from tax advisers and engineers to auditors and fund accountants.
“We service a large segment of the Luxembourg and international real estate market and this allows our team to deliver tailor-made specialised services to our clients,” explains Amaury Evrard, Partner and Real Estate Leader at PwC Luxembourg. “We can make the most of our global
- 24/10/2014
By Kavitha Ramachandran, Maitland – As the alternative investment market matures, investors are increasingly demanding far more information and transparency from fund managers in return for their capital. Transparency is the new name of the game. In this regard, the Alternative Investment Fund Managers Directive (AIFMD) may be viewed as a single piece of regulation, but its ultimate aims are more or less in line with other regulatory changes such as MiFID II/MiFIR and PRIPS. There will come a point where the reporting and transparency requirements demanded under the AIFMD will become the minimum accepted standard needed to attract investors.
It
- 24/10/2014
- 24/10/2014
A true sign of how well a fund jurisdiction is doing is the level of growth, not just in new fund formations, but asset growth within administration firms. The onset of the AIFMD has opened up a new range of services for administrators, in particular by providing a Depo Lite solution to managers running non-EU funds.
Ipes is one of the world’s leading private equity fund administrators. According to Justin Partington (pictured), Commercial Director at Ipes, “clients are continually asking us about Management Company solutions and providing substance in Luxembourg. There are significant hurdles to set up a ManCo because we
- 24/10/2014
There is no experience as the one gained in the front lines. The fund industry struggles with changing regulation, and those companies whose business model is based on providing reporting services know best that the devil lies in the detail. The following are a number of observations after 12 months of report production and filing of the Annex IV Transparency Reports of AIFMD.
During the preparation phase, KNEIP, one of the industry’s long-standing legal and regulatory report providers, has learned a number of lessons that it is applying to ensure that the filing process becomes as hassle-free for managers as
- 24/10/2014
It is fair to say that alternative fund managers are feeling a degree of regulatory fatigue. Every month, it seems, there are updates, developments and areas of additional compliance. But whilst on the surface this can appear overwhelming, digging a little deeper reveals that service providers are positioning themselves to offer a more complete set of value-added solutions.
As a leading European domicile, Luxembourg is seeing this develop first hand. One firm, Credit Suisse Fund Services, has moved quickly to bring a menu of options to help managers address today’s fund management issues.
“Focusing purely on security services, asset
- 24/10/2014
“There has been a lot of fund activity in Luxembourg this year focused on private equity and real estate. It’s an area of growing investor demand. They are looking for different options now and ways for investing that go beyond hedge funds,” observes Jesper Steiness, director of business development EMEA at Advent (Luxembourg).
This is encouraging news for the jurisdiction and suggests the early signs of greater private equity fund formation are favourable. But as Steiness’s colleague Roger Woolman, senior solutions consultant at Advent notes, the firm is also working more with hybrid fund structures on a global basis.
“What
- 24/10/2014
- 24/10/2014
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