Marco Zwick, director at the Luxembourg Financial Sector Supervisory Commission (CSSF), seen speaking at Association of the Luxembourg Fund Industry’s Private Assets Conference, 28 November 2023. Photo: Romain Gamba/Maison Moderne

Marco Zwick, director at the Luxembourg Financial Sector Supervisory Commission (CSSF), seen speaking at Association of the Luxembourg Fund Industry’s Private Assets Conference, 28 November 2023. Photo: Romain Gamba/Maison Moderne

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Marco Zwick, director at the Luxembourg Financial Sector Supervisory Commission (CSSF), seen speaking at Association of the Luxembourg Fund Industry’s Private Assets Conference, 28 November 2023. Photo: Romain Gamba/Maison Moderne
Michelle Barry, partner at Maples and Calder, and Marco Zwick, director at the Luxembourg Financial Sector Supervisory Commission (CSSF), seen during Alfi’s Private Assets Conference, 28 November 2023. Photo: Romain Gamba/Maison Moderne
Catherine Pogorzelski, country managing partner at DLA Piper Luxembourg and chair of the day one morning session, seen speaking at the Association of the Luxembourg Fund Industry’s Private Asset Conference, 28 November 2023. Photo: Romain Gamba/Maison Moderne
Volker Kraft, managing partner, ECE Real Estate Partners; Rosa Villalobos, managing director and head of Luxembourg office, Macquarie Infrastructure and Real Assets; and Kavitha Ramachandran, chief operating officer Luxembourg, Apex Fund Services. Photo: Romain Gamba/Maison Moderne
Kavitha Ramachandran at Apex Fund Services seen speaking on the “Navigating macroeconomic challenges: the role of private assets” panel during Alfi’s Private Assets Conference, 28 November 2023. Photo: Romain Gamba/Maison Moderne
Volker Kraft at ECE Real Estate Partners seen speaking on the “Navigating macroeconomic challenges: the role of private assets” panel during Alfi’s Private Assets Conference, 28 November 2023. Photo: Romain Gamba/Maison Moderne

The Association of the Luxembourg Fund Industry’s Private Assets Conference took place at Luxexpo in Kirchberg, Tuesday 28-Wednesday 29 November 2023.

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.

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