Situation globale des organismes de placement collectif à la fin du mois de mars 2026 (uniquement en anglais)

As at 31 March 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 6,207.822 billion compared to EUR 6,436.135 billion as at 28 February 2026, i.e. a decrease of 3.55% over one month. Over the last twelve months, the volume of net assets increased by 7.97%.

The Luxembourg UCI industry thus registered a negative variation amounting to EUR 228.313 billion in March. This decrease represents the sum of negative net capital investments of EUR 14.073 billion (-0.22%) and of the negative development of financial markets amounting to EUR 214.240 billion (-3.33%).

The development of undertakings for collective investment is as follows:

The number of undertakings for collective investment taken into consideration totalled 3,002, against 3,005 the previous month. A total of 2,020 entities adopted an umbrella structure representing 12,315 sub-funds. Adding the 982 entities with a traditional UCI structure to that figure, a total of 13,297 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 March.

During the month, markets were primarily affected by the launch of joint US-Israel military strikes on Iran and the subsequent escalation in the region. The closure of the Strait of Hormuz, along with damage to key energy infrastructure, disrupted supply routes and triggered a sharp rise in energy prices, renewing inflation concerns and increasing interest rate risk. Against this backdrop, all equity UCI categories experienced steep monthly losses, particularly in Asia and Europe, reflecting their dependence on imported oil and gas, whereas US equities reported smaller losses, benefitting from favourable currency movements arising from safe‑haven flows into the US dollar.

In March, equity UCI categories registered an overall negative capital investment, with outflows in most categories and inflows limited to the categories Latin American, Japanese and European equities.

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

Bond prices were negatively impacted by a significant increase in interest rate risk stemming from fears about the inflationary impacts of the war in the Middle East, together with a widening of credit spreads. In this environment, both the ECB and the Fed left interest rates unchanged at their respective monetary policy meetings, emphasising rising inflation risks. Against this backdrop, all fixed income UCI categories posted negative monthly returns, despite the favourable currency effect of the substantial appreciation of the US dollar against the euro.

In March, fixed income UCIs registered an overall positive net capital investment with marked differences among categories. The category EUR money market benefitted from the largest inflows, while High Yield bonds incurred the largest outflows.

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

UCITS Part I 2010 Law:

• EURIZON OPEN, 28, boulevard de Kockelscheuer, L-1821 Luxembourg
• LACUS UMBRELLA FUND, 2, rue Gabriel Lippmann, L-5365 Munsbach
• ONEMARKETS LUX, 60, Avenue J.F. Kennedy, L-1855 Luxembourg
• UNITHEMEN EUROPÄISCHE AUTONOMIE, 3, Heienhaff, L-1736 Senningerberg

UCI part II 2010 Law:

• CAPITAL GROUP ALTERNATIVE INVESTMENTS FUNDS, Vertigo Building – Polaris, 2-4, rue Eugène Ruppert, L-2453 Luxembourg
• HANSEMERKUR PRIVATE DEBT ELTIF S.C.A., SICAV, 1c, rue Gabriel Lippmann, L-5365 Munsbach
• PETRUS REAL ESTATE FUND, 3, rue Gabriel Lippmann, L-5365 Munsbach
• PGIM ALTERNATIVES SCA-SICAV, 49, Avenue J.F. Kennedy, L-1855 Luxembourg
• THE EUROPEAN CONSUMER CREDIT FUND, 60, rue de Luxembourg, L-5408 Bous

SIFs:

• OPTIM SICAV-SIF, 60, rue de Luxemburg, L-5408 Bous

SICARs:

• EUTHENIA CAPITAL APPRECIATION SICAR, 60, Avenue John F. Kennedy, L-1855 Luxembourg

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

UCITS Part I 2010 Law:

• ALLIANZ FINANZPLAN 2025, Bockenheimer Landstraße 42-44, 60323 Frankfurt am Main¹
• ALPINA INVEST SICAV, 2, rue Gabriel Lippmann, L-5365 Munsbach
• CHINA UNIVERSAL SICAV, 106, route d’Arlon, L-8210 Mamer
• DF DEUTSCHE FINANCE SECURITIES FUND, 1C, rue Gabriel Lippmann, L-5365 Munsbach
• FLOSSBACH VON STORCH II, 2, rue Jean Monnet, L-2180 Luxembourg
• LYXOR SELECTION FUND, 9, rue de Bitbourg, L-1273 Luxembourg
• PING AN OF CHINA ASSET MANAGEMENT FUND, 4, rue Peternelchen, L-2370 Howald
• RIVERTREE BOND, 3, rue Jean Piret, L-2350 Luxembourg

SIFs:

• BUYSSE & PARTNERS PRIVATE INVESTMENTS FUND, 12, rue Eugène Ruppert, L-2453 Luxembourg
• DWM FUNDS S.C.A. – SICAV SIF, 3, rue Gabriel Lippmann, L-5365 Munsbach
• GLOBAL INVESTMENT FUND SICAV SIF, 3, rue Gabriel Lippmann, L-5365 Munsbach
• QS REP II SCA SIF, 22, rue des Bruyères, L-1274 Howald
• THE GENESIS EMERGING MARKETS INVESTMENT COMPANY, 10, rue du Château d’Eau, L-3364 Leudelange

SICARs:

• SILK INVEST PRIVATE EQUITY FUND S.A. SICAR, 4, rue Robert Stumper, L-2557 Luxembourg