The Luxembourg funds industry continued to expand over the last 12 months despite the eurozone crisis and declines in major stock indices. The number of funds in Luxembourg rose by 4.84% to 3,833 and net sales amounted to €16.998bn. While total AUM decreased over the period by €101.453bn, mainly as a result of market depreciation, total assets under management were still a steady €2,059.419bn, second globally only to the US.
- In 2011, Luxembourg funds industry has continued to maintain jobs amid crisis
- Stability and reputation of Grand Duchy helps employee numbers to rise and net sales to remain positive
- ALFI continues to raise concerns over regulations which adversely impact the funds industry and its end users