In a published on 1 September, the CSSF stated that the total net assets of UCIs, specialised investment funds and Sicars (société d'investissement en capital à risque) amounted to €5,243.579bn at the end of July 2023.

This is an increase of €45.833bn, or 0.88%, over one month, and is due to the positive development of financial markets (amounting to €48.644bn) and negative net capital investments (-€2.811bn).

“Equity indices recorded positive returns, both in developed and emerging markets, driven by a fall in inflation and resilient growth, raising hopes for a ‘soft landing’ and by supportive policies for the real estate sector and consumption in China,” added the CSSF’s press release. “Against this backdrop and despite the depreciation of the USD against the EUR, all the equity UCI categories showed positive returns, for the second month in a row.”

Over the last 12 months, net assets have decreased by 2.25%, added Luxembourg’s financial regulator.

14,206 active fund units

There were 3,324 undertakings for collective investment recorded at the end of July, a decrease of 12 compared to the month before (3,336). 2,177 entities used an umbrella structure, representing 13,059 sub-funds, said the CSSF. A further 1,147 entities had a “traditional” UCI structure, bringing the total number of active fund units to 14,206.