Wealth & Asset Management

New reforms : Start 2026 with the right information, and take the right direction

Luxembourg has a proven track record of turning regulatory challenges into growth opportunities and fund managers know it well. In 2026, the Grand Duchy will face a new wave of reforms set to redefine the European investment fund landscape.

CSSF Circular 25/901: a unified framework for the risk management of Luxembourg’s Part II UCIs, SIFs and SICARs

In keeping with what has become an almost seasonal pattern in the Luxembourg’s fund industry, the Commission de Surveillance du Secteur Financier (CSSF) closed the year with the issuance of the Circular 25/901, bringing substantial consolidation and modernization of the supervisory framework applicable to Part II UCIs, SIFs and SICARs.

AIFMD 2.0: what it means for annex IV reporting

Executive summary. AIFMD 2.0 introduces – amongst others - significant changes to supervisory reporting under Article 24, reshaping the Annex IV content, format, and even reporting frequency and timing through new EU level technical standards. These changes will require AIFMs to manage more granular data, implement stronger governance, and adapt to harmonized processes

Credibility of Luxembourg’s investment fund industry backed by positive reviews of CSSF’s supervision of depositaries

Luxembourg, the main domicile for depositaries in the European Union, has received a positive evaluation by ESMA in its peer review on the supervision of depositary obligations, and suggests recommendations for improvement to both the CSSF and depositaries themselves.

Top 5 recurring AML/CFT issues to look out for when preparing for AED onsite inspections

While AED penalties are generally less severe than those imposed by the CSSF, they remain significant.

Can Luxembourg once again lead the way in shaping European fund management with AIFMD II?

AIFMD laid the groundwork for Luxembourg’s emergence as a major player in the alternative investment space. The Directive’s implementation was driven by forward-thinking leaders who recognized its potential and rallied to shape a thriving ecosystem. Moving forward, what are the changes that AIFMD II puts forward, and how will it impact fund managers?

Semi-liquid funds: Luxembourg’s next frontier in private markets

Semi-liquid funds are transforming global asset management. By combining private market returns with periodic liquidity, they offer investors an unprecedented balance of yield and flexibility.

Reimagining the enterprise value proposition: Strategies for asset managers

In today's competitive landscape, the concept of an enterprise’s value proposition has never been more critical. It encapsulates the unique value a company offers to its customers, stakeholders, and the broader market. A well-defined value proposition is essential for establishing a strong market position, especially in the crowded asset management marketplace, where investment management firms must effectively communicate why clients should choose their company and strategies over others.

ELTIF & Operating model

While retail funds under ELTIF 2.0 are only slowly picking up demand due to the current interest environment, the positive longer-term views of the industry have not changed with regard to the allocation of retail investor money into alternative assets. However, an overlooked but crucial element for success lies in the operational readiness amongst asset managers, servicers and distributors.

The active ETF window: Luxembourg’s golden opportunity

For years, exchange-traded funds (ETFs) have been synonymous with passive investment strategies, tracking indices with low fees and broad market exposure. However, as financial markets become more volatile and investors seek more agile strategies, actively managed ETFs are gaining traction. While still a small portion of the European ETF market – just over 2% – this segment is experiencing significant growth.