Of all net sales of funds in Europe last year, Luxembourg stood for 45 percent.

News site Asset Servicing Times has read the 2018/2019 report from ALFI, the Association of the Luxembourg Fund Industry, noting for example that its members’ assets under management (AuM) of exchange-traded funds increased by a stunning 49 percent in 2018.

A centre for sustainable funds

In the same nation and period, private equity funds grew 17 percent and loan funds 25 percent.

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Further, the report saw 39 percent of Europe’s sustainable funds being Luxembourg-based, just like 27 percent of European UCITS and alternative investment funds.

ALFI has just changed chairman, with Corinne Lamesch replacing Denise Voss.