The latest edition of PricewaterhouseCoopers (PwC) Luxembourg's Global Fund Distribution Poster has revealed that the Grand Duchy represents the first domicile of 70% of asset management giants to set up their funds.
The poster, which was released at the ALFI Spring Conference on Tuesday 8 March 2016, is now in its 17th edition and provides a comprehensive view of the cross-border distribution of funds.
The 2016 edition revealed that last year reflected the good health of the industry, with 11,222 funds distributed in at least three jurisdictions - up 792 or 7.6% from 2014. The Grand Duchy itself was perceived to be a centre for excellence and the first choice for 70% of major asset management companies to established their funds.
In terms of Undertakings for Collective Investments in Transferable Securities (UCITS), Luxembourg confirmed its reputation in terms of assets under management.
"The Luxembourg UCITS funds are still going places," explained José-Benjamin Longrée, partner and Global Fund Distribution Leader at PwC Luxembourg. "At the end of 2015, UCITS asset management weighed 2,820 billion, an increase of nearly 1,000 billion within five years."
Christophe Saint-Mard, partner at PwC Luxembourg, also added: "Luxembourg funds continue to progress globally, especially in terms of net sales. In 2015, they captured over 50% of overall mutual funds net sales."
France and Italy were established as the European countries attracting the greatest number of foreign funds, whilst Singapore and Chile have maintained their pole positions in the markets of Asia and Latin America, respectively.
Poster by PwC Luxembourg
