Luxembourg’s funds industry has retained its title as the leading European funds domicile, with March’s figures showing record net sales, and a growth of net assets under management.
According to the Association of the Luxembourg Funds Industry (ALFI) statistics for March 2015, the domicile had about €3.53 trillion in net assets under management, a growth of 3.55 percent since the beginning of the month, and of 13.89 percent since 1 January.
Net sales reached their highest ever monthly figure, reaching 49.92 billion.
Net assets managed by investment funds under Luxembourg law have also seen significant growth, increasing by more than 30 percent over the last 12 months.
The majority of funds domiciled in Luxembourg are initiated in Germany, with 2,812 funds, while Switzerland comes a close second with 2,585 funds.
Funds initiated in the US and UK, however, account for the most net assets under management, with €790.6 billion and €590.8 billion, respectively.
Chairman of ALFI Marc Saluzzi said: “The low interest rate environment is obviously a decisive factor in the sustained growth of assets under management by the investment fund industry.”
He added: “The exceptionally high net sales that we are registering in Luxembourg are the best proof of the continuous confidence of the international investor in the Luxembourg investment fund product. Equally, the diversified geographical origin of fund promoters in Luxembourg demonstrates that our fund centre remains the domicile of choice for the international asset management community.”
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