Manufacturers of funds in the Nordic region have been targeted by the Association of the Luxembourg Fund Industry in a roadshow over the past week that has highlighted the path to broader European distribution via Ucits vehicles and Luxembourg domicilation.
Taking place in Stockholm on 23rd, and Copenhagen on 24th October, the seminars put forward latest ideas and information on regulatory, product development and distribution opportunities that are linked to the Grand Duchy’s positioning as a financial centre in Europe.
Presentations and panel discussions covered topics including:
- Brexit and the future of Europe’s financial services industry, discussed by Nicolas Mackel, CEO, Luxembourg for Finance,
- Panels on:
- Brexit, Fintech, the ESA review and the Capital Markets Union,
- 30 years of Ucits
- Developments in alternative vehicles, including the Reserved Alternative Investment Fund vehicle offered by Luxembourg
- Sustainable investing and ESG, with insight from the LuxFLAG labelling regime.
A number of Nordic mangers have already made the move to Luxembourg in the past. Brands such as Nordea and DNB have entrenched businesses in the jurisdiction from which they achieve broader distribution across the region. There are others, however, which may be more in the small and mid-sized part of the industry spectrum, that are thinking about how to grow assets going forward, and how best to achieve this while also growing the distribution footprint.
However, as Northern Trust has commented in Nordic Hedge, while it is possible to set up a presence in Luxembourg, there are other issues to consider, such as business practice and operating models, as adjustments may be required to maximise the benefits of establishing such a presence.