Global situation of undertakings for collective investment at the end of July 2026
Press release 26/17
I. Overall situation
As at 31 July 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 6,686.574 billion compared to EUR 6,731.325 billion as at 30 June 2026, i.e. a decrease of 0.66% over one month. Over the last twelve months, the volume of net assets increased by 13.21%.
The Luxembourg UCI industry thus registered a negative variation amounting to EUR 44.751 billion in July. This decrease represents the sum of positive net capital investments of EUR 25,978 billion (+0.39%) and of the negative development of financial markets amounting to EUR 70.729 billion (-1.05%).
The development of undertakings for collective investment is as follows:
The number of undertakings for collective investment taken into consideration totalled 2,960, against 2,968 the previous month. A total of 2,004 entities adopted an umbrella structure representing 12,300 sub-funds. Adding the 956 entities with a traditional UCI structure to that figure, a total of 13,256 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 July.
Global markets experienced significant volatility during the month, largely driven by renewed geopolitical tensions in the Middle East, which pushed energy prices sharply higher. Concerns about elevated valuations in AI-related stocks, notably amid increased competition from China, triggered losses, particularly in South Korea and Taiwan. Against this backdrop, the European, Eastern European and Latin American categories delivered positive monthly gains whereas the US, Japanese and Asian equities categories recorded notable losses.
In July, equity UCI categories registered an overall positive capital investment, with the largest inflows in the categories Eastern European, Other and European equities.
Development of equity UCIs during the month of July 2026*
| Market variation in % | Net issues in % | |
| Global market equities | -1.62% | 0.06% |
| European equities | 0.35% | 0.69% |
| US equities | -1.82% | -0.16% |
| Japanese equities | -1.26% | -0.14% |
| Eastern European equities | 4.59% | 2.41% |
| Asian equities | -3.77% | -1.39% |
| Latin American equities | 2.75% | -1.65% |
| Other equities | -2.69% | 1.30% |
* Variation in % of Net Assets in EUR as compared to the previous month
During the month, bond markets were affected by a significant increase in yields, driven by renewed inflation concerns following the negative developments in the Middle East, as well as persistent fiscal concerns. Regarding monetary policy, the ECB left interest rates unchanged, signalling a likely rate hike in September. The Fed also kept rates unchanged, without providing guidance on future moves. Against this backdrop, most fixed income UCI categories recorded negative monthly returns.
In July, fixed income UCIs registered an overall positive net capital investment from all categories except for USD money market.
Development of fixed income UCIs during the month of July 2026*
|
Market variation in % |
Net issues in % |
|
| EUR money market |
0.12% |
1.44% |
| USD money market |
-0.70% |
-3.15% |
| Global money market |
0.27% |
2.76% |
| EUR-denominated bonds |
-1.08% |
1.24% |
| USD-denominated bonds |
-1.57% |
0.59% |
| Global market bonds |
-0.98% |
0.81% |
| Emerging market bonds |
-1.33% |
0.75% |
| High Yield bonds |
-0.73% |
0.37% |
| Others |
-0.78% |
0.49% |
* 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:
Development of diversified UCIs and funds of funds during the month of July 2026*
|
Market variation in % |
Net issues in % |
|
| Diversified UCIs |
-0.79% |
0.31% |
| Funds of funds |
-0.85% |
0.73% |
* Variation in % of Net Assets in EUR as compared to the previous month
II. Breakdown of the number and net assets of UCIs
During the month under review, the following five undertakings for collective investment have been registered on the official list:
UCITS Part I 2010 Law:
- AEGON ASSET MANAGEMENT LUXEMBOURG UCITS FUNDS, 3, rue Jean Piret, L-2350 Luxembourg
- ESTELA CAPITAL FCP, 4, rue Jean Monnet, L-2180 Luxembourg
- MORA FCP, 6A, rue Gabriel Lippmann, L-5365 Munsbach
UCI part II 2010 Law:
- ARDIAN ACCESS SERIES, S.C.A., SICAV, 3, rue Jean Piret, L-2350 Luxembourg
- HAMILTON LANE SENIOR CREDIT OPPORTUNITIES FUND, 80, route d’Esch, L-1470 Luxembourg
The following thirteen undertakings for collective investment have been deregistered from the official list during the month under review:
UCITS Part I 2010 Law:
- ANIMA INVESTMENT SICAV, 60, avenue J-F Kennedy, L-1855 Luxembourg
- CS INVESTMENT FUNDS 14, 33A, avenue John F. Kennedy, L-1855 Luxembourg
- HAIG INTERNATIONAL, 1C, rue Gabriel Lippmann, L-5365 Munsbach
- MIGROS BANK (LUX) FONDS, 33A, avenue John F. Kennedy, L-1855 Luxembourg
- PFP ADVISORY AKTIEN MITTELSTAND PREMIUM, 15, rue de Flaxweiler, L-6776 Grevenmacher
- PORTFOLIO G, 1c, rue Gabriel Lippmann, L-5365 Munsbach
- PRIMA, 4, rue Thomas Edison, L-1445 Strassen
- VALUEINVEST LUX, 2, rue d’Alsace, L-1122 Luxembourg
SIFs:
- AEVN CDO – COFONDS, 3, rue Jean Piret, L-2350 Luxembourg
- KJK FUND II, SICAV-SIF, 94, rue de Grünewald, L-1912 Luxembourg
- TIKEHAU INVESTMENT S.C.S., SICAV-SIF, 5, allée Scheffer, L-2520 Luxembourg
SICAR:
- MINDFUL CAPITAL PARTNERS II S.C.A. SICAR, 10, rue Antoine Jans, L-1820 Luxembourg
- QS GEO PEP II SCA SICAR, 22, rue des Bruyères, L-1274 Howald