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According to the annual report of the Association of the Luxembourg Fund Industry (ALFI), issued in June, the positive growth trends of 2013 continued into 2014, with assets under management for Luxembourg domiciled investment funds reaching a new record of EUR 2,742.208 billion at the close of April 2014. During the first quarter of 2014 assets under management rose by EUR 94 billion, driven by EUR 68 billion of net sales. In 2013 Luxembourg attracted inflows of EUR 193 billion, representing 47% share of total European net sales, and 129 new fund promoters selected Luxembourg as their fund domicile of which 31% were outside of the EU.
Despite Luxembourg’s success, ALFI’s Chairman, Marc Saluzzi believes that the overall fund industry environment remains challenging. He...
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