Situation globale des organismes de placement collectif à la fin du mois de décembre 2024 (uniquement en anglais)

As at 31 December 2024, the total net assets of undertakings for collective investment, comprising UCIs subject to the 2010 Law, specialised investment funds and SICARs, amounted to EUR 5,820.088 billion compared to EUR 5,840.177 billion as at 30 November 2024, i.e. a decrease of -0.34% over one month. Over the last twelve months, the volume of net assets increased by 10.12%.

The Luxembourg UCI industry thus registered a negative variation amounting to EUR 20.089 billion in December. This decrease represents the sum of positive net capital investments of EUR 4.510 billion (0.08%) and of the negative development of financial markets amounting to EUR 24.599 billion (-0.42%).

The development of undertakings for collective investment is as follows:

The number of undertakings for collective investment taken into consideration totalled 3,143, against 3,161 the previous month. A total of 2,067 entities adopted an umbrella structure representing 12,523 sub-funds. Adding the 1,076 entities with a traditional UCI structure to that figure, a total of 13,599 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 December.

Global equity markets experienced a slight decline during the month, following strong performances in November, largely attributed to concerns about a potential resurgence of inflation in the US stemming from the anticipated measures of the upcoming US administration, particularly regarding immigration and trade policies. Market sentiment was also affected by uncertainty over the US stance on the ongoing conflicts in Ukraine and the Middle East. In Europe, performances were mixed, due to disappointing economic indicators and political instability in France and Germany.

In December, for the second consecutive month, most equity UCI categories registered negative capital investment, with the exception of significant inflows in the US equities category.

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

Both the European Central Bank (ECB) and the Fed reduced interest rates by 25 bps during their December meetings. The ECB indicated that rates would likely be further reduced in 2025 due to ongoing low growth and declining inflation. Conversely, the Fed adopted a more hawkish tone and forecasted fewer cuts than previously anticipated, due to potential inflationary pressures and less concerns over the labour market. Consequently, the yield curve steepened, leading to losses for most fixed income UCIs (given the negative relationship between yields and prices), also due to slight increases in credit spreads.

In December, fixed income UCIs registered positive net capital investment mostly due to inflows in the USD and EUR money market UCI categories.

* _{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 seven undertakings for collective investment have been registered on the official list:

UCITS Part I 2010 Law:

• BERENBERG EURO IG CREDIT, 15, rue de Flaxweiler, L-6776 Grevenmacher
• DEKA-US AKTIEN CORE, 6, rue Lou Hemmer, L-1748 Luxembourg-Findel
• JANUS HENDERSON TABULA FUND, 18, Boulevard de Kockelscheuer, L-1821 Luxembourg
• PRIME BLENDED OPPORTUNITIES GLOBAL, Kapstadtring 8, 22297 Hamburg¹

UCIs Part II 2010 Law:

• EDMOND DE ROTHSCHILD PRIVATE EQUITY SOLUTIONS SICAV, 3, rue Gabriel Lippmann, L-5365 Munsbach
• PATRIZIA INFRASTRUCTURE INVEST, 15, rue de Flaxweiler, L-6776 Grevenmacher

SIFs:

• GO SIF, 16, rue Gabriel Lippmann, L-5365 Munsbach

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

UCITS Part I 2010 Law:

• ASM ASSET SPECIAL MANAGEMENT FUND, 9A, rue Gabriel Lippmann, L-5365 Munsbach
• INVEST AD SICAV, 6H, route de Trèves, L-2633 Senningerberg
• LINGOHR, 15, rue de Flaxweiler, L-6776 Grevenmacher
• ROBECO GLOBAL TOTAL RETURN BOND FUND, 6, route de Trèves, L-2633 Senningerberg
• VERMÖGENSFONDSMANDAT FLEXIBEL (80% TEILGESCHÜTZT), 2, boulevard Konrad Adenauer, L-1115 Luxembourg

UCIs Part II 2010 Law:

• THOMASLLOYD SICAV, 6A, rue Gabriel Lippmann, L-5365 Munsbach

SIFs:

• AIM MASTER FUND SICAV-FIS, 30, boulevard Royal, L-2449 Luxembourg
• AZ PURE CHINA, 2A, rue Eugène Ruppert, L-2453 Luxembourg
• CHINA CENTRAL AND EASTERN EUROPE INVESTMENT CO-OPERATION FUND SCS SICAV-SIF, 15, boulevard F.W. Raiffeisen, L-2411 Luxembourg
• FINEXT FUNDS LUXEMBOURG SICAV – SIF, 15A, avenue John F. Kennedy, L-1855 Luxembourg
• GIM SPECIALIST INVESTMENT FUNDS II FCP-SIF, 6, route de Trèves, L-2633 Senningerberg
• INFRASTRUKTUR-UI-FONDS FCP-FIS, 15, rue de Flaxweiler, L-6776 Grevenmacher
• INTERLAGOS, 15, rue de Flaxweiler, L-6776 Grevenmacher
• INTERNATIONAL II SIF SICAF, 2, rue Jean Bertholet, L-1233 Luxembourg
• INTERNATIONAL SIF SICAV, 2, rue Jean Bertholet, L-1233 Luxembourg
• KORYS CAPITAL GALATEIA SCA, 42, rue de la Vallée, L-2661 Luxembourg
• MASTER SIF SICAV-SIF, 2, rue Jean Bertholet, L-1233 Luxembourg
• OAK CONSTELLATION SICAV-SIF SCA, 2, avenue du Blues, L-4368 Belvaux
• OMEGA PRESERVATION FUND, 12, rue Eugène Ruppert, L-2453 Luxembourg
• PERE-UI-FONDS FCP-FIS, 15, rue de Flaxweiler, L-6776 Grevenmacher
• PE-UNIVERSAL-FONDS FCP (SIF), 15, rue de Flaxweiler, L-6776 Grevenmacher
• POLAR SIF, 12, rue Eugène Ruppert, L-2453 Luxembourg
• SELECTUM SICAV-SIF, 16, boulevard Royal, L-2449 Luxembourg
• SIRIUS INVESTMENT FUND SICAF-SIF, 2, rue Jean Bertholet, L-1233 Luxembourg
• WILDHORN SICAV SIF, 1B, rue Jean Piret, L-2350 Luxembourg