Luxembourg posts record-breaking month

Luxembourg posts record-breaking month

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Luxembourg has retained its position as the leading European domicile with 3,524.79bn ($3850bn) of net assets under management, growing 3.55% in the month ending 31 March 2015 and 13.89% so far in 2015, according to the Association of the Luxembourg Fund Industry (Alfi).

At 49.92bn, net sales in March were the highest of all time and net assets managed by investment funds under Luxembourg law have grown by 30.10% in the past 12 months.

“The low interest rate environment is obviously a decisive factor in the sustained growth of assets under management by the investment fund industry,” said Marc Saluzzi, chairman of Alfi.

“The exceptionally high net sales that we are registering in Luxembourg are the best proof of the continuous confidence of the international investor in the Luxembourg investment fund product. Equally, the diversified geographical origin of fund promoters in Luxembourg demonstrates that our fund centre remains the domicile of choice for the international asset management community.”

The number of investment funds stood at 3,888 on 31 March 2015. Germany remains the main initiator of funds domiciled in Luxembourg with 2,812 in total, and Switzerland came in second with 2,585 in total. 

However, funds initiated in the US and the UK have the most net assets under management, with 790,580m and 579,799m, respectively.

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