Europe

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New growth opportunities for an expanding global funds industry

New growth opportunities for an expanding global funds industry

By Marc-André Bechet, ALFI – Luxembourg is in a quite unique position as a global funds jurisdiction compared to other financial centres in the European Union. The country enjoys an unrivalled political and economic stability. It benefits from a triple A rating with a stable outlook, which has been re-confirmed in September by the three rating agencies Fitch, Standard & Poor’s and DBRS Morningstar. Luxembourg is one of the ten countries worldwide with a triple A rating. Debt to GDP, although on the rise as a consequence of the current crisis, will soon reach 26 per cent but remains well below debt levels in the EU.

SPECIAL REPORT

Adapting and responding to change

Adapting and responding to change

By A Paris – Uncertainty remains the order of the day as the world heads into a period of slow recovery which risks being scuppered by a variety of factors including the US elections, trade tensions and the prolonged impact of the Covid-19 pandemic. Financial services practitioners in Luxembourg, like their peers in other jurisdictions, have had to navigate this volatile environment while continuing to provide a seamless service to clients.

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Orient Capital utilises ‘Proxymity ID’ for first shareholder analysis under SRDII in European ‘non-disclosure’ markets

Orient Capital utilises ‘Proxymity ID’ for first shareholder analysis under SRDII in European ‘non-disclosure’ markets

Orient Capital, a specialist in share ownership analysis and identification, market intelligence, investor communication and shareholder management technology, has initiated two client projects by incorporating the ‘Proxymity ID’ technology into its existing analytical processing systems.

PRIVATE FUNDS

Private funds on the Irish horizon

Private funds on the Irish horizon

The Irish funds industry may have some catching up to do in the private funds space, but as the government gears up to introduce a refreshed Investment Limited Partnerships Act, the jurisdiction is expected to see an influx of managers from the UK, the US and further afield choosing to set up their private funds in Ireland.

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Morningstar recognised as non-EU administrator of benchmarks under the European Benchmarks Regulation (BMR)

Morningstar recognised as non-EU administrator of benchmarks under the European Benchmarks Regulation (BMR)

Morningstar, a provider of independent investment research, has been recognised as a non-EU Administrator of benchmarks under the European Benchmarks Regulation (BMR). The BMR introduces a common framework and consistent approach to benchmark regulation, with an objective of ensuring the accuracy and integrity of benchmarks across the European Union.

Tax

Financial services sector fears impact of Financial Transaction Tax on trading, liquidity, and active management

Financial services sector fears impact of Financial Transaction Tax on trading, liquidity, and active management

The possible introduction of a financial transaction tax (FTT) in the US and Europe to make up for lower tax revenues resulting from the Covid-19 pandemic, is raising concern from investors and advisers, shows new data from Greenwich Associates.