41 Luxembourg-domiciled funds suspended due to Russia exposure

Kathleen Gallagher
clock • 1 min read

41 Luxembourg-domiciled funds are suspended due to their Russia exposure, Claude Marx, director general of the Commission de Surveillance du Secteur Financier said at the European Asset Management Conference. Marx, who was speaking virtually at the association of Luxembourg fund industry event on 22 March, noted there were 61 funds that had over 10% exposure to Russia. The CSSF later clarified the 41 funds includes subfunds, SICAVs and other types of funds "including notably fund set up in a contractual form". Last week (16 March) the CSSF, Luxembourg's markets watchdog, confirmed ...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?