In 2022, Luxembourg funds lost €831bn, largely due to financial market declines, figures published by the Luxembourg Financial Sector Supervisory Commission (CSSF) on 30 January 2023 showed. Photo: Shutterstock

In 2022, Luxembourg funds lost €831bn, largely due to financial market declines, figures published by the Luxembourg Financial Sector Supervisory Commission (CSSF) on 30 January 2023 showed. Photo: Shutterstock

After reaching an all-time high at the end of 2021, of €5.859trn, the Luxembourg fund industry ended 2022 with €5.028trn in assets under management. This represents a 14.18% fall over 12 months, according to figures from Luxembourg’s financial regulator, the CSSF.

It is clearly financial market turbulence that has penalised Luxembourg investment funds. In December alone, assets under management fell by €137.9bn due to the markets, whose turmoil impacted funds to the tune of €145.6bn.

In the same month, net inflows increased by €7.65m. In October, net inflows had already been positive, at €8.1bn.

This resilience in inflows was echoed by the European Fund and Asset Management Association, which that net sales of Ucits and alternative funds in Europe in November 2022 amounted to €53bn, compared with €3bn in October 2022.

Ucits recorded net inflows of €44bn, compared with net inflows of €71bn in October, while alternative investment funds recorded net inflows of €9bn, compared with net outflows of €69bn in October, the association said.

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