POLITICS & INSTITUTIONS - ECONOMY

Market pushes Lux fund assets down by 2.5% in February: CSSF



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unsplash-logoMarten Bjork 

Luxembourg fund assets shrunk slightly in February due to a market selloff, but still registered year-on-year growth.

The collective balance was essentially set back to the level seen in November 2019.

According to the CSSF, Luxembourg’s financial regulator, total assets in Luxembourg-domiciled investment funds fell by 2.5%, from €4.8trn at the end of January 2020 to €4.7trn at the end of February 2020.

However, assets were still 9.5% higher than at the end of February 2019.

The CSSF report stated: “The spread of the coronavirus outside China and the ensuing risks to global growth have weighed on financial markets, driving down all categories of equity mutual funds.”

Luxembourg-based retail funds recorded a net negative change of €121bn, the CSSF said. While mutual funds experienced net investor inflows of €13.2bn (+0.28%), financial market declines pushed their values down by €134.4bn (-2.81%).

The CSSF released the figures on 27 April.