Mobius to stand down as PM on 12 funds
Mark Mobius is to stand down from fund management duties on a range of 12 Luxembourg Sicavs but will remain as executive chairman of Templeton Emerging Markets Group.
Luxembourg
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GL Asset Management rolls out four sicavs to UK market
Andy Sullivan, BlackRock alumnus and new chief executive of GL Asset Management UK is debuting four Luxembourg-domiciled funds to professional investors.
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Northern Trust expands in Europe with UBS buy
US-based Northern Trust Corp is to buy UBS Asset Management’s fund administration servicing units in Luxembourg and Switzerland.
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Luxembourg hits record of €3.7trn AUM despite Brexit jitters
Assets under management in Luxembourg-domiciled funds grew by 7% to €3.74trn (£3.18trn, $3.97trn) last year, the latest data from the Association of the Luxembourg Fund Industry (ALFI) shows.
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Panama Papers law firm bosses arrested and denied bail
The founders of Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, have been arrested and are facing money laundering charges.
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FundRock targets European growth with Dublin office
FundRock Management Company has opened an office in Dublin, as part of wider the firm’s European expansion plans and to capture growing demand arising from the Brexit vote.
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Wells Fargo adds US small cap and equity Ucits to range
Wells Fargo Asset Management has launched two Luxembourg-domiciled Ucits funds: the Global Focused Equity and US Small Cap Value funds.
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Luxembourg deepens ties with China, signs up two more banks
China Everbright Bank and Shanghai Pudong Development Bank, have confirmed plans to set up a presence in Luxembourg to serve the European market which, when given regulatory approval, will bring the total number of Chinese banks in the Grand Duchy to eight.
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Fidelity’s Dan Roberts on the global hunt for income
Dan Roberts runs Fidelity’s Global Dividend Fund with a steady eye on the long view, he aims to deliver a low-stress investment experience for unitholders.
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Franklin Templeton launches global currency Sicav
Franklin Templeton Investment has launched a Luxembourg-registered global currency fund.
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BNP Paribas IP adds multi-asset EM income fund
BNP Paribas Investment Partners has launched its first multi-asset income fund focusing on emerging markets.
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Capital Group brings ‘New World’ EM fund to Europe
Capital Group has announced it will make its emerging markets strategy available to investors outside the US this October via a Luxembourg vehicle.