Global situation of undertakings for collective investment at the end of April 2026

As at 30 April 2026, the total net assets of undertakings for collective investment, comprising UCIs subject to the 2010 Law, specialised investment funds and SICARs, amounted to EUR 6,436.197 billion compared to EUR 6,207.822 billion as at 31 March 2026, i.e. an increase of 3.68% over one month. Over the last twelve months, the volume of net assets increased by 14.55%.

The Luxembourg UCI industry thus registered a positive variation amounting to EUR 228.375 billion in April. This increase represents the sum of positive net capital investments of EUR 17.921 billion (0.29%) and of the positive development of financial markets amounting to EUR 210.454 billion (3.39%).

The development of undertakings for collective investment is as follows:

The number of undertakings for collective investment taken into consideration totalled 2,993, against 3,002 the previous month. A total of 2,013 entities adopted an umbrella structure representing 12,313 sub-funds. Adding the 980 entities with a traditional UCI structure to that figure, a total of 13,293 fund units were active in the financial centre.

As regards the impact of financial markets on the main categories of undertakings for collective investment and the net capital investment in these UCIs, the following can be said for the month of April.

Global financial markets experienced a strong recovery following a sharp decline in the previous month, driven by strong earnings growth in AI-related stocks and optimism over de-escalation efforts in the conflict in Iran. This rebound occurred despite the collapse of negotiations late in the month and worsening economic indicators showing the growing impact of the conflict on the real economy, particularly due to high energy prices resulting from the closure of the Strait of Hormuz. Against this backdrop, all equity categories posted monthly gains, largely reflecting their exposure to the AI sector. The US and Asian equities categories delivered the strongest performances, with Asia driven by exceptional gains in Taiwan and South Korea.

In April, equity UCI categories registered an overall positive capital investment with mixed flows across categories. The category Latin American equities collected the largest inflows.

* _{Variation in % of Net Assets in EUR as compared to the previous month}

During the month, strong earnings growth and improved risk sentiment contributed to a narrowing of credit spreads, while yields rose amid concerns over inflation and fiscal sustainability. At month-end, both the Fed and ECB kept interest rates unchanged, reflecting uncertainty over the impact of the Iran conflict on inflation and growth. Against this backdrop, all fixed income UCI categories recorded positive monthly returns, except for the USD money market and USD-denominated bonds categories, which were affected by the depreciation of the US dollar against the euro.

In April, fixed income UCIs registered an overall positive net capital investment with mixed flows across categories. The category Global money market collected the largest inflows.

* _{Variation in % of Net Assets in EUR as compared to the previous month}

The development of net assets of diversified Luxembourg UCIs and funds of funds is illustrated in the table below:

* _{Variation in % of Net Assets in EUR as compared to the previous month}

During the month under review, the following eight undertakings for collective investment have been registered on the official list:

UCITS Part I 2010 Law:

• DEKA-EUROPÄISCHE SOUVERÄNITÄT AKTIEN, 6, rue Lou Hemmer, L-1748 Senningerberg
• DEKA-EUROPÄISCHE SOUVERÄNITÄT RENTEN, 6, rue Lou Hemmer, L-1748 Senningerberg
• LUXEMBOURG ARCANO PARTNERS SELECTION UCITS SICAV, 33A, Avenue J.F. Kennedy, L-1855 Luxembourg

UCI part II 2010 Law:

• I.G. PRIVATE MARKET SOLUTIONS SCA-SICAV, 49, Avenue J.F. Kennedy, L-1855 Luxembourg
• JPMORGAN PART II, 49, Avenue J.F. Kennedy, L-1855 Luxembourg
• PARTNERS GROUP ERSTE EVERGREEN S.A., SICAV, 10, rue du Château d’Eau, L-3364 Leudelange

SIFs:

• AIGIS FUND, 14, Boulevard Royal, L-2449 Luxembourg
• HENDERSON PARK REAL ESTATE FUND II SCSP-SIF, 48, rue de Bragance, L-1255 Luxembourg

The following seventeen undertakings for collective investment have been deregistered from the official list during the month under review:

UCITS Part I 2010 Law:

• ALPINA FUND SICAV, 2, rue Gabriel Lippmann, L-5365 Munsbach
• ETHNA SICAV, 4, rue Thomas Edison, L-1445 Strassen
• FERI LABELLED BOND FUND, 5, Heienhaff, L-1736 Senningerberg
• JKC FUND, 60, avenue John F. Kennedy, L-1855 Luxembourg
• MONOCLE FUND SICAV, 5, rue Jean Monnet, L-2180 Luxembourg
• PREMIUM SELECTION UCITS SICAV, 9, rue de Bitbourg, L-1273 Luxembourg
• PRESTIGE LUXEMBOURG, 12, rue Eugène Ruppert, L-2453 Luxembourg
• STARCAPITAL, 4, rue Thomas Edison, L-1445 Strassen

SIFs:

• AVIA SICAV-SIF, 75, Parc d’activités, L-8308 Capellen
• ON PENSION FUND S.C.S., 17, boulevard F.W. Raiffeisen, L-2411 Luxembourg
• EMERALD FUND S.C.A. SICAV-FIS, 7, rue Genistre, L-1623 Luxembourg
• GLOBAL INFRASTRUCTURE SELECT SICAV-FIS, 17, Boulevard F.W. Raiffeisen, L-2411 Luxembourg
• GLOBAL PRIVATE EQUITY SELECT S.C.S., 17, boulevard F.W. Raiffeisen, L-2411 Luxembourg
• GLOBAL PROPERTY SELECT S.C.S., 17, boulevard F.W. Raiffeisen, L-2411 Luxembourg
• ICEBERG FUND SIF SICAV S.A., 5, rue Jean Monnet, L-2180 Luxembourg
• RO AGRICULTURE II INVESTMENT SICAV-SIF, 2, rue Edward Steichen, L-2540 Luxembourg

SICARs:

• 3B FUTURE HEALTH FUND S.A. SICAR, 412F, route d’Esch, L-1471 Luxembourg