A second Luxembourg-regulated, commodity finance-related fund has halted operations this year after the directors of the Blackstar Commodities Fund suspended redemptions and the conversion of shares in its Sicav.
Global alternative asset and corporate administration services provider Sanne has agreed to acquire Luxembourg Investment Solution (LIS) and Compliance Partners (CP).
There are no benchmark huggers in Europe’s biggest fund centre, Luxembourg’s financial regulator CSSF has claimed, “except one isolated case.”
Financial services provider Ocorian has agreed to buy MAS International, an independent fund administration company operating primarily in Luxembourg and Mauritius.
The Financial Services Compensation Scheme (FSCS) forked out £105m ($135.6m, €119.1m) in 2016/17 to compensate clients who were wrongly advised to transfer their savings into “risky assets” held in self-invested personal pension schemes (Sipps).
UK asset manager M&G Investments is transferring four domestic open-ended funds to its Luxembourg platform over fear and uncertainty surrounding the UK’s exit from the European Union.
Swiss private bank Edmond de Rothschild has been fined nearly €9m (£7.9m, $10m) by Luxembourg’s financial regulator for its handling of funds reportedly linked to beleaguered sovereign wealth fund 1Malaysia Development Berhad.
US-based investment manager Cohen & Steers will launch a Sicav global preferred securities fund, a sub-fund of its existing Luxembourg Ucits platform, in mid-May.
The best places to earn a decent annual wage without having to work around the clock are in western Europe. Eastern Europe fared badly but Mexico ranked bottom, a recent report by ExpatFinder found.
Mirae Asset Global Investments (HK) has launched a Luxembourg-domiciled Asia Pacific multi-asset income fund targeted to institutional investors and high-net-worth individuals.
Luxembourg is in talks with Australia to sign a double tax agreement (DTA) following efforts by the Grand Duchy to clean up its controversial tax regime, finance minister Pierre Gramegna has said.
Luxembourg, the largest domicile for Ucits funds, will not engage in a “race to the bottom” to lure UK-based asset managers that want to maintain their passporting rights when Britain leaves the EU, according to Anouk Agnes, deputy director general of the Association of Luxembourg Fund Industry (Alfi).
