Lux funds post €4.23trn AUM in June
Luxembourg financial market authority CSSF has reported funds domiciled in the country were managing €4.23trn of assets under management, down -0.79% month-on-month (-33.94bn) from €4.27trn last May.
On a yearly basis, AUM of Luxembourg-domiciled funds have soared by 7.44%.
CSSF highlighted that the negative evolution of financial markets over June 2018 has resulted in a loss of €30.34bn in funds registered in Luxembourg.
The number of undertakings for collective investment (UCIs) has dropped from 3,991 to 3,987 at the end of June on a monthly basis. Over the last 12 months, Luxembourg has seen quite a significant fall in UCIs from 4,130 funds in June 2017 to 3,991 in June 2018.
In addition, the number of entities having adopted an umbrella structure has fallen to 2,581 at the end of June from 2,646 in June 2017. However, a rise in sub-funds shall be noted (13,356 compartments in June 2018 against 13,190 in June 2017).
Overall, a total of 14,762 fund units were active in Luxembourg at 30 June 2018 (14,674 in June 2017).