We have seen better days, but things could be worse. That was the message from , chair of the Association of the Luxembourg Fund Industry and conducting officer at Capital Group, in his opening remarks at Alfi’s 2023 Private Assets Conference.
The current geopolitical uncertainty and high inflation and interest rates have created a “challenging environment for the investment management industry,” Goy stated.
However, “not everything is bleak.” There are opportunities even in challenging times and “it is up to us to seize them”, he said. Goy pointed to the growth in private asset, sustainable and active ETF funds as examples.
He noted that assets under management by Luxembourg-based investment funds had slid from €5.9trn at the end of December 2022 to €5.2trn today, but that €5.2trn “is still impressive.”
Sessions at the two-day conference included an from a top financial regulator, results of Alfi’s recent and studies, and an (Eltif).
Goy said that 550 people had registered to attend the in-person only event.