The assets under management slightly down

The CSSF noticed a negative variation in the assets under management in Luxembourg over the past month.

According to a Commission de Surveillance du Secteur Financier (CSSF) report, after screening 3,413 undertakings for collective investment in Luxembourg – comprising UCIs subject to the 2010 law, specialised investment funds and SICARs – the total net assets amounted to 5,300.361 billion euros on 31 August, i.e. a decrease of 1.46% since 31 July.

Why such a negative variation? Mainly because of the volatility of the main markets: “Central banks reaffirmed their determination to bring inflation under control at the cost of downward growth expectation, while the geopolitical tensions around the globe remain elevated.”

Except for the Latin American (+6.37%) and Asian equities (+0.35%), the whole market recorded a decrease – especially the European equities (-4.98%), reflecting the high level of inflation, the Ukraine war impact on the energy sector and concerns over the global economy cooling down.

You can read the full report here.