“With €105bn in net flows, Luxembourg has managed to attract 45% of net fund sales in Europe--a testimony of the continued confidence of investors in the Luxembourg domicile,” Alfi stated in its announcement.
The trade group reported a 56% rise in assets under management in exchange-traded funds and 17% in venture capital funds.
Alfi also reported an increase in British investment firm activity in the grand duchy in the runup to Brexit:
“More than 18% of assets under management in Luxembourg funds are managed by asset managers based in the UK. British fund initiators remain very active in Luxembourg, representing 41% of the number of funds created in 2018. Our efforts are focused on how we can continue this constructive relationship even after Brexit.
“23 asset management companies based in the UK have publicly announced that they will create or strengthen their presence in Luxembourg to ensure the sustainability of their activities.”
Correction: A previous version of this article mistakenly referred to a figure in “2017” that were in fact published for 2018. This was updated on 19 February.