Luxembourg industry leaders' rankings

Luxembourg, Europe’s largest fund domicile, saw its assets grow by 1% in 2015 to reach $3,815.9 billion (€3.512.9 billion), according to data from a fund research company.

State Street maintained its position as the top administrator by assets, totalling $624.2 billion, followed by JP Morgan and BNP Paribas, with $520.4 billion and $284.3 billion, respectively.

JP Morgan maintained its lead as the largest custodian with $731.7 billion of assets under custody, and State Street retained second position with $698 billion.

The figures are from Monterey Insight, an independent research house.

PricewaterhouseCoopers remains the main provider of professional services, auditing 5,706 sub-funds, ahead of KPMG and Deloitte.

In the legal sphere, domestic firms continued to have the leading market share, with Arendt & Medernach advising the most funds (3,609), although Elvinger, Hoss & Prussen led on a total net-assets basis. UK-based law firm Linklaters was third, with 924 funds.

JP Morgan Asset Management was the largest fund promoter of Luxembourg domiciled schemes, with $278.7 billion of fund assets, followed by Deutsche Asset & Wealth Management, with $193.3 billion.

“This is once again a very pleasing year for the Luxembourg fund industry with an increase of assets and sub-funds as well as dynamic regulatory initiatives,” said Karine Pacary, managing director at Monterey Insight.

Official figures from the Association of the Luxembourg Fund Industry reveals that total assets under management in the Grand Duchy were €3,395.4 billion, as of March 30 this year.

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