At the ALFI conference held today on Tuesday 21 March 2017, PwC Luxembourg presented this year’s barometer which showed an increase of management companies in the Grand Duchy in 2016.
There are currently almost 300 management companies, also known as ManCos, in Luxembourg, about 20 of which joined last year, holding a UCITS license, AIFM or both. According to the 2017 barometer of PwC Luxembourg’s Observatoire des Sociétés de Gestion, 2016 witnessed a growth of 7% of such companies.
The index measures the activity of UCITS management companies in Luxembourg based on the number of employees, assets under management and number of structures.
At the end of 2016, UCITS management companies alone employed more than 4,000 people and managed some €2,949 billion in assets, both of which grew significantly compared to December 2015.
The number of management companies with an AIFM license has for the first time superseded those with a UCITS license, confirming the success of the transposition of the AIFM Directive into Luxembourg law in July 2013. In total, 220 Management companies have an AIFM license, as opposed to 201 with UCITS.
More than half of the AIFM management companies are from Germany (26%), Switzerland (18%) and the United States (14%), while the UCITS structures come mainly from Switzerland (20%), the United States (18%) and the United Kingdom (16%).
The barometer also reveals that the majority of management companies provide risk management and compliance services.
The results of the barometer for 2017 can be found on the website of PwC Luxembourg.
