FINANCIAL SERVICES INDUSTRY
Luxembourg is the largest financial center for investments funds in Europe and the second largest worldwide.
Promoters from 42 countries distribute their Luxembourg funds around the world through more than 42,000 distribution agreements:
75% of authorizations for distribution granted to worldwide funds are allocated to Luxembourg funds.
Luxembourg has been able to turn retail EU funds, the UCITS, into a brand that stands on its own, not only within Europe but worldwide.
In view of the fact that almost 43,000 people are employed in the financial services industry which contributes around 26% of the gross domestic product (source: Statec, Nov. 2010) it is easily understandable why the financial industry and government are working closely and smoothly together to ensure continued efficiency.
Luxembourg today hosts more than 500 entities servicing funds (regulated and unregulated), an industry that continues to develop dynamically.