New Site launches to demystify the Luxembourg Funds Industry to the world outside

Press release by Funds TV; 10/03/2016

New Site launches to demystify the Luxembourg Funds Industry to the world outside

Rana Hein-Hartmann, European Director of Funds Partnership launched on Leap Day 2016, as the first open, online site for exploration of the industry’s key themes, by key people in the industry. The philanthropic site aims to bridge the gap in education and innovation between the sector and the world outside, aiming to demystify Luxembourg’s role as a top fund centre around the world. The brainchild of the European Director of Funds Partnership, Rana Hein-Hartmann was motivated to put the site together for the benefit of both the funds industry and the end-consumer, after reading many negatively presented views on private equity and asset management industry in general.

‘I realised that there was a great disparity between the way the world sees asset management and the work we actually do, especially in Luxembourg, which is often misunderstood and misrepresented. In addition to Asset Management providing for people’s pensions, there are many fantastic by-products of the industry; the active investment in our SMEs, the real estate in our capital cities managed by funds, private equity turn-arounds, not to mention a very large global employer. At a time where a pensions crisis looms in every nation, the need for education and inspiration is of paramount importance. Luxembourg’s role as a safe and secure fund domicile is not purely tax driven and it is important people outside the business understand this.’

As FundsTV was established as a philanthropic project, it is free to provide content to the site, as the emphasis is on content rather than commercialisation of the project.

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Roundtable: Third-party AIFMs are here to stay

Third-Party AIFMs are a new type of entity which has emerged as a result of the introduction of the Alternative Investment Fund Managers Directive (AIFMD) in the EU/EEA. Some AIFMs are also classified as “Super ManCos” (Super Management Companies), notably those using the same legal entity to consolidate operations for both UCITS funds and AIFMD-compliant funds. Using a third-party AIFM, a fund sponsor that is not itself licenced as an AIFM, can distribute and market its funds across the EU/EEA and beyond, using the passport of the AIFM. Since the Directive came into force in 2013, Luxembourg has witnessed an increase in the number of local players embracing this new opportunity. LPEA invited four of these players over a roundtable moderated by a fund manager, to debate how this “new” opportunity is changing the fund business.

Roundtable held by the Luxembourg Private Equity & Venture Capital Association on January 18th 2016 with the participation of Benoît Chéron (moderator), CFO, IDI Emerging Markets (IDI EM); Nigel Williams, Co- founder and Chairman, Royalton Partners; Daniela Klasén-Martin, Managing Director, Crestbridge; Alexandre Dumont, CEO, BIL Manage Invest and Pierre Weimerskirch, Co-founder, Luxembourg Investment Solutions (LIS).