Luxembourg's fund industry has quickly recovered pandemic losses
Photo: Maison Moderne
Luxembourg’s fund industry managed more than €5trn in assets at the end of January, a new record.
The fund industry experienced a substantial dip at the start of the pandemic, when the gains of nearly an entire year were wiped out and assets under management fell by around €500bn to €4.15trn.
But recovery has been swift, and the industry breached the €5trn ceiling for the first time at the end of January, according to data by regulator CSSF, at €5,050.152bn.
It took roughly three years--from October 2014 to September 2017--for funds to advance from €3 to €4trn. The €5trn threshold took another four years and five months but without the pandemic but could have probably been achieved earlier.
In January 2020, assets under management were worth €4.79trn.
This article was first published on Paperjam.lu and has been translated and edited for Delano.