Luxembourg

Lux watchdog warns firms on fund charges – Ignites Europe

Luxembourg’s financial regulator has flagged shortcomings in asset managers’ setting of fee levels and ongoing charges calculations following a probe of the local market. The warning comes in the Commission de Surveillance du Secteur Financier’s feedback report, published yesterday, following the common supervisory action on the supervision of costs and fees of Ucits, launched by the European […]

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Brexit gives Luxembourg €50m tax boost -Ignites Europe

Asset managers including M&G and Columbia Threadneedle moved more than €50bn in fund assets from the UK to Luxembourg to protect their clients’ interests in the wake of the UK’s vote to leave the EU. Luxembourg levies a subscription tax – taxe d’abonnement – of 5 basis points on retail funds and 1bp for institutional shares classes,

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