Investment Officer Luxembourg

What will define Luxembourg’s success in the next decade? As a global financial centre, Luxembourg has thrived on stability, innovation, and adaptability. But with increasing competition and shifting market dynamics, how can it maintain its edge? In the first of our three-part video series, leading experts share their perspectives on the key opportunities and challenges that will shape Luxembourg’s future. 📽️ Featuring insights from: 🔹 Simon Gorbutt, Deputy CEO, Luxembourg for Finance 🔹 Luis Galveias, COO, LPEA - Luxembourg Private Equity & Venture Capital Association 🔹 Yves Stein, Chairman, ABBL 🔹 Sebastiaan Hooghiemstra, Counsel, Loyens & Loeff Luxembourg 🔹 Jan Saalfrank, Partner, Pinsent Masons Luxembourg Watch the video now and join the conversation on what’s next for Luxembourg’s financial sector. 👉 https://lnkd.in/eFc52Rz3 #Luxembourg #Finance #PrivateBanking #Banking #PrivateMarkets #VentureCapital #Investment #FinancialCentre ---------- These videos are part of the #InvestmentOfficer Boardroom Lunch Luxembourg partnership, made possible by Pemberton Asset Management, Capital Group and Invesco EMEA.

🔍 Strategic shifts and stark warnings at Natixis Thought Leadership Summit in Paris Reporting from Paris, #InvestmentOfficer’s Raymond Frenken outlines two key themes emerging from Natixis Asset Management’ Thought Leadership Summit: sector disruption driven by rising costs and geopolitical tremors shaking the foundations of the US dollar. 💬 “Active management is back,” declared Philippe Setbon, CEO of Natixis Investment Managers, pointing to a record 40 billion euros in net inflows for 2024. Setbon outlined a clear vision: high-conviction investing, a deeper role for private markets, and the inevitability of consolidation. The firm’s merger with Generali’s asset management arm will create Europe’s largest asset manager by revenue — and the world’s ninth-largest — with its group HQ to be based in Amsterdam. 🔗 Fabrice Chemouny, head of international distribution, underlined that the Netherlands is also a strategic growth market. “We’re not doing this to be the biggest,” he said. “We’re doing this to support our client needs.” The new Amsterdam office will serve as a key hub in this new phase. 🌍 On the macro front, Mabrouk Chetouane, head of global market strategy at Natixis IM, delivered a sobering analysis of dollar risk and global investor confidence. “The weakness of the dollar explains the strength of China’s equity market,” he said. He urged Europe to align fiscal and monetary policy, highlighting Germany’s 500-billion-euro investment plan and anticipating ECB rate cuts later this year. ⚠️ Jon Levy of Loomis, Sayles & Company, one of Natixis’ investment boutiques, warned of the dangers of a sudden loss of faith in US Treasuries. “A sudden shock could trigger large-scale banking crises worldwide.” 📰 Read Raymond’s full reports via Investment Officer Luxembourg: 👉 Setbon warns of sector upheaval: https://lnkd.in/eyTATPUW 👉 No one will win when the dollar starts wavering: https://lnkd.in/ejR4rSci And in Dutch on Investment Officer NL: 👉 Natixis IM zoekt naar een sterkere positie in Nederland: https://lnkd.in/eDaGPV7J #AssetManagement #InvestmentStrategy #DollarRisk #PrivateMarkets #Tokenisation #ActiveManagement #NatixisIM #ThoughtLeadership #Geopolitics #ECB #InterestRates #Consolidation #Generali #Amsterdam #InvestmentOfficer

🔍 Luxembourg’s depositary banking sector is undergoing a structural shift as alternative investment funds (AIFs) drive record-breaking growth. The latest ABBL–KPMG Luxembourg survey highlights a massive expansion in assets under depositary (AuD) for Raifs, private equity, and other alternative structures. 📈 Key takeaways from the survey: ✅ +144 billion euros in Raifs ✅ +180 billion euros in partnerships and other AIFs ✅ +108 billion euros in private equity funds While Ucits remain dominant with a steady 6 percent YoY increase to 4 trillion euros, AIFs are leading the most dynamic growth in Luxembourg’s financial ecosystem. ⚖️ But with growth comes complexity. Unlike Ucits, alternative funds require customized handling, impacting depositary banks’ operations, risk management, and digitalization strategies. Striking a balance between automation and value-added services will be critical to sustaining momentum, as noted by ABBL Depositary Banking Cluster chair David Claus. 💡 Luxembourg’s depositary banks are adapting—expanding specialist teams, accelerating digitalization, and refining regulatory frameworks to support AIFs’ expansion. But can the industry keep up with investor demand while managing workforce challenges and compliance pressures? 📊 Read our full breakdown of the survey’s findings here: https://lnkd.in/e5ctnqsp #Luxembourg #InvestmentFunds #PrivateEquity #DepositaryBanking #AIFs #FundAdministration #Ucits #Finance

The Changing Landscape of Eltifs—Growth, Caution, and Debate Relaxed rules around #Eltifs, the European vehicles for non-listed investments, have led to a surge in new launches. But while some asset managers are embracing the changes, others remain cautious. The Eltif market grew by an estimated 54 percent in 2024, reaching 20 billion euros, with J.P. Morgan Asset Management among the latest entrants. Yet, doubts persist. Some private equity players question whether a new European structure is necessary, and private banks remain divided. Kristof Kustermans, CEO of Edmond de Rothschild Belgium, says his firm prefers more traditional feeder-master structures, while KBC BANK N.V is monitoring the trend but remains cautious, recommending that illiquid investments remain a small portion of portfolios. One of the biggest debates is over liquidity. The introduction of #semiliquid Eltifs has raised concerns among market participants. Olivier Rogiest of Quaestor Wealth Care questions whether private assets can truly be made liquid without affecting returns, while Raluca Jochmann, CFA, head of private market solutions at Allianz Global Investors, warns that gating may occur if too many investors try to exit at once. Higher fees are another sticking point. Morningstar notes that Eltif management fees remain well above those of traditional investment funds, reflecting the complexity of sourcing private investments. AllianzGI argues that higher costs are justified by the workload involved, but Morningstar analyst Mara Dobrescu, CFA stresses that investors must carefully evaluate fees, liquidity provisions, and expected net returns. Is the market finally reaching critical mass, or are Eltifs still a niche product with structural challenges? Read Emmanuel Vanbrussel’s full analysis at #InvestmentOfficer #Luxembourg: https://lnkd.in/eye5eitV Also available in Dutch at Investment Officer BE: https://lnkd.in/ejvKjgFs #Eltif #PrivateMarkets #AlternativeInvestments #AssetManagement #WealthManagement #PrivateEquity #InvestmentFunds #FinancialRegulation #LuxembourgFinance #Morningstar #JPMA #AllianzGI #FundManagement

🔎 Navigating change: What’s next for Luxembourg’s wealth sector? Luxembourg’s financial industry is at a crossroads. Rising costs, regulatory complexity, and rapid digital transformation are reshaping the landscape for private banks and wealth managers. How can Luxembourg maintain its edge as a global wealth hub? What strategies will define success in the decade ahead? In the second video of our three-part series, leading industry voices provide their insights on the future of private banking and wealth management in Luxembourg. 📽️ Featuring: 🔹 Simon Gorbutt, Deputy CEO, Luxembourg for Finance 🔹 Luis Galveias, COO, LPEA - Luxembourg Private Equity & Venture Capital Association 🔹 Yves Stein, Chairman, ABBL 🔹 Sebastiaan Hooghiemstra, Counsel, Loyens & Loeff Luxembourg 🔹 Jan Saalfrank, Partner, Pinsent Masons Luxembourg 📺 Watch now on our website at https://lnkd.in/eqzG6ttF or here below on LinkedIn ⬇️ #Luxembourg #WealthManagement #PrivateBanking #Finance #Investment #FinancialCentre ---------- These videos are part of the #InvestmentOfficer Boardroom Lunch Luxembourg partnership, made possible by Capital Group, Invesco EMEA, and Pemberton Asset Management.

🔹 Who’s moving where? This week’s key appointments in and around Luxembourg include updates from Cube Infrastructure Managers, Gen II Fund Services, Edge, and more. 📢 Christophe Santer (小虎） joins private markets fintech bunch as director of sales & business development, leading its expansion into Luxembourg. “Luxembourg’s private markets are evolving rapidly, but fund administration remains outdated,” he told Investment Officer. “bunch is redefining the industry with automation and real-time data. I joined to help drive this transformation.” 📢 Hana Prochaska has been named business development executive director Europe at Gen II Fund Services, supporting the firm’s European expansion and transatlantic service capabilities. 📢 Emmanuel Rogy, Xavier Martin, and Stéphane Calas take on new leadership roles at Cube Infrastructure Managers as part of a succession plan, reinforcing Cube’s focus on telecoms, financing, and portfolio operations. 📢 Shima Heydari steps into the role of managing director for Benelux & Nordics at Allianz Partners, succeeding Lasse Grundstrom. 📢 Sander Blommaert has been appointed Chief Retail Officer at Argenta, overseeing Belgian and Dutch retail clients. 📢 Joachim Wintzer joins EDGE as managing director for Germany, bringing 25 years of real estate expertise to drive strategic growth and sustainable development. 💡 Want to share your firm’s latest appointments? Send your announcements to editor@investmentofficer.lu 🔗 Read the full story on #InvestmentOfficer #Luxembourg: https://lnkd.in/euXWxG6j #Luxembourg #Finance #PrivateMarkets #WealthManagement #Pensions #FundManagement #RealEstate #Leadership

💶 EU citizens hold around 34 trillion euros in savings—one-third of which is sitting in bank deposits. That is a vast pool of capital, and Luxembourg sees an opportunity in European pension reform. The Pan-European Personal Pension Product (Pepp), designed to provide a portable, voluntary retirement savings plan across the EU, is under review for much-needed amendments. Luxembourg’s financial industry, including Alfi, is advocating for rule changes that could make Pepp more attractive to asset managers and fund distributors. 🚀 Could Luxembourg become the go-to hub for Pepp manufacturing and distribution? 🔹 Sebastiaan Hooghiemstra of Loyens & Loeff argues that Luxembourg is well positioned: “If Luxembourg can play a role in lobbying for a strong Pepp product, it means that fund and asset managers based here will have an interest in promoting it and offering cost-effective solutions.” 🔹 Research from the Luxembourg Institute of Socio-Economic Research (LISER) suggests strong demand, particularly among younger and mobile workers. Some respondents would even sacrifice up to 3.6 percent of returns to keep the same pension plan across borders. 🔹 Robo-advisory solutions integrating Pepp with Ucits, Eltifs, bonds, and equities could offer an automated, personalised way to save for retirement. With legislative amendments expected by 2026, Pepp could be a game-changer—if the right framework is put in place. Read the full article by Mike Gordon on Investment Officer Luxembourg: https://lnkd.in/eaNvJjV2 #Pensions #Investments #Pepp #Luxembourg #AssetManagement #WealthManagement #RetirementPlanning

The investment fund industry exists to transfer capital from where it’s idle to where it’s needed most—whether that’s building hospitals, financing clean energy, or supporting new industries. Yet, in #Luxembourg, the industry's role is too often viewed through the narrow lens of regulation and administration rather than impact. This week, Gregory Kennedy tackles this disconnect in his latest Investment Officer Luxembourg column. From the early days of pooled investments in the Dutch and British East India Companies to the rise of Ucits funds, he explores how the industry evolved—and why it needs to reconnect with its core mission. 🔍 Are we losing sight of the bigger picture? Let’s start a conversation. 📖 Read his full column here: https://lnkd.in/eeH2sXad 🔓 #Luxembourg #FundIndustry #Investment #CapitalMarkets #Finance

Markets can handle a lot—rising rates, geopolitical shocks, tech downturns. But what they really dislike is uncertainty. And on Sunday, Donald Trump delivered just that. In a meandering Fox News interview, Trump refused to rule out a recession, vaguely mentioning "transition periods" and how "prosperity takes time." Instead of reassuring investors, his ambiguity only fanned recession fears. By Monday, markets had spoken: the S&P 500 plunged 2.7 percent, the Nasdaq dropped 4 percent, and tech stocks erased tens of billions of dollars in value. On Tuesday, Wall Street extended these loses. “The shift in sentiment is unmistakable,” said Vincent Juvyns, global market strategist at J.P. Morgan Asset Management. While inflation had been the market’s main concern for months, Juvyns noted that focus has now shifted to the strength of the economy itself. Meanwhile, Anthony Pompliano, CEO at investment house Professional Capital Management, LLC, pointed out a more tactical angle, arguing that Trump and Treasury Secretary Scott Bessent could be “taking matters into their own hands” by letting asset prices tumble to pressure the Federal Reserve into cutting interest rates. For years, markets tolerated Trump’s unpredictability. Monday’s selloff suggests that patience is wearing thin. The question now: Is this just another market tantrum, or the start of something bigger? 📉 Full #InvestmentOfficer story by Raymond Frenken: https://lnkd.in/eB4KXpw4 And in Dutch at Investment Officer NL: https://lnkd.in/euZK--py #Markets #Investing #Recession #DonaldTrump #WallStreet

Merz said it: “whatever it takes.” That phrase, immortalised by Mario Draghi in 2012, now takes on a new meaning in Germany’s fiscal debate. Friedrich Merz’s sweeping proposals—unlocking hundreds of billions of euros for defence and infrastructure—have sent shockwaves through global debt markets, triggering the sharpest Bund sell-off in nearly 30 years. A 31-basis-point surge in 10-year German yields. A seismic shift in Berlin’s traditionally cautious fiscal stance. Markets are scrambling to reassess the future of European debt. Deutsche Bank’s Jim Reid calls it “one of the largest fiscal regime shifts in post-war history.” Moritz Kraemer warns of heightened pressure on weaker-rated Eurozone sovereigns. Even Christine Lagarde is watching closely. If you thought you understood Germany’s economic trajectory, it might be time to start over. Read more: https://lnkd.in/e4xE5AQi #Germany #FiscalPolicy #Bunds #DebtMarkets #Eurozone #WhateverItTakes #FriedrichMerz #Schuldenbremse #ECB #InterestRates #Inflation #GovernmentSpending #GlobalMarkets #FixedIncome #Investing #Infrastructure #DefenseSpending #MacroEconomics #YieldSurge #FinancialMarkets