Philip Tarplee is the new face of Swiss-owned insurance company Bâloise Vie Luxembourg in the UK, where the brand is a relative stranger in the competitive marketplace – but not for much longer.
Luxembourg is on track to introduce the regulatory framework to launch Real Estate Investment Trusts (REITs) this year, industry experts predicted after Luxembourg’s Minister of Finance Pierre Gramegna revealed the Government was pushing ahead with the idea.
Assets under management of Luxembourg-domiciled funds reached 3.4trn at the end of February after strong net sales in the first two months of 2015, the Association of the Luxembourg Fund Industry (ALFI) announced at its Spring conference.
East Capital said its UCITS-compliant China fund has become the first to be allowed to invest up to 100% of its portfolio in Chinese A-shares through the Stock Connect program.
London-headquartered firm, PricewaterhouseCoopers (PwC), has come under fire for allegedly promoting tax avoidance “on an industrial scale”.
Luxembourg is confident of its bright future in the face of increasing competition from burgeoning fund centres, said the Association of the Luxembourg Fund Industry (ALFI).
East Capital has launched a new frontier markets fund focused on “young and fast-growing” markets with an emerging middle class and strong consumption growth.
MP Margaret Hodge has accused accounting firm PwC of “selling tax avoidance on an industrial scale”.
The first Luxembourg UCITS has been authorised for use in the Hong Kong Shanghai stock connect program.
Jean-Claude Juncker is to face a vote in the European Parliament next week that will decide whether he should resign from his post because of his alleged influence in crafting Luxembourg’s lenient tax regime.
The former Luxembourg Prime Minister has vowed to clampdown on tax avoidance in his new role as president of the European Commission, despite believing his own country’s tax system is in “full accordance” with European law.
Moventum, the Luxembourg platform company, has been taken over by independent fund services provider Atlantic Fund Services to enable it to become a “direct fund distributor”.
