Published on 11 July 2017
Press release

Global situation of undertakings for collective investment at the end of May 2017

Press release 17/25

I. Overall situation

As at 31 May 2017, total net assets of undertakings for collective investment, including UCIs subject to the 2010 Law, specialised investment funds and SICARs reached EUR 3,956.348 billion compared to EUR 3,937.907 billion as at 30 April 2017, i.e. a 0.47% growth over one month. Over the last twelve months, the volume of net assets rose by 12.22%.

The Luxembourg UCI industry thus registered a positive variation amounting to EUR 18.441 billion in May. This increase represents the balance of positive net issues of EUR 23.987 billion (0.61%) and a negative development in financial markets amounting to EUR -5.546 billion (-0.14%).

The development of undertakings for collective investment is as follows1:

The number of undertakings for collective investment (UCIs) taken into consideration totals 4,141 as against 4,129 in the previous month. A total of 2,651 entities have adopted an umbrella structure, which represents 13,166 sub-funds. When adding the 1,490 entities with a traditional structure to that figure, a total of 14,656 fund units are active in the financial centre.

As regards, on the one hand, the impact of financial markets on the main categories of undertakings for collective investment and, on the other hand, the net capital investment in these UCIs, the following can be said about May.

The categories of equity UCIs developed differently during the month under review.

As regards developed countries, European equity UCIs registered price increases within the context of corporate earnings exceeding anticipations, continued economic growth in the euro area, an ongoing accommodating monetary policy by the European Central Bank and a reduction of political risks in Europe. While US equity prices slightly increased within a context of higher-than-expected corporate earnings, despite political uncertainties in the United States, the approximately 2.6% depreciation of the USD against the EUR made the US equity UCIs end in negative territory. The sound growth figures in Japan explain the positive performance of Japanese equity UCIs.

As for emerging countries, Asian equity UCIs recorded a positive performance in a global favourable environment and in view of the stable economic data in China. The losses recorded by the Eastern European equity UCIs is due to the drop in oil prices and geopolitical issues in the region, despite an improvement of growth figures in Russia and certain other Eastern European countries. The category of Latin American equity UCIs experienced a downward trend following the persisting political problems in different countries of the region and the depreciation of the main South American currencies.

In May, equity UCI categories registered an overall positive net capital investment.

Development of equity UCIs during the month of May 2017*


* Variation in % of Net Assets in EUR as compared to the previous month.

Development of fixed-income UCIs during the month of May 2017*


* Variation in % of Net Assets in EUR as compared to the previous month.

The development of net assets of diversified Luxembourg UCIs and of funds of funds is illustrated in the table below.

Development of diversified UCIs and funds of funds during the month of May 2017*


* 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 30 undertakings for collective investment have been registered on the official list:

1) UCITS Part I 2010 Law:

  • A&G FLOTA, 6A, rue Gabriel Lippmann, L-5365 Munsbach
  • APS FUND SICAV, 106, route d’Arlon, L-8210 Mamer
  • FLOSSBACH VON STORCH II, 6, avenue Marie-Thérèse, L-2132 Luxembourg
  • FT ALPHA GLOBAL MARKET NEUTRAL, 534, rue de Neudorf, L-2220 Luxembourg
  • HBM UCITS (LUX) FUNDS, 15, avenue J-F Kennedy, L-1855 Luxembourg
  • INDEXIQ, 49, avenue J-F Kennedy, L-1855 Luxembourg
  • KERSIO LUX, 35A, avenue J-F Kennedy, L-1855 Luxembourg
  • LAFFITTE FUNDS, 5, allée Scheffer, L-2520 Luxembourg
  • MACRO NAVIGATION FUND, 4, rue Thomas Edison, L-1445 Strassen
  • MULTIFACTORFLEX, 18, boulevard de la Foire, L-1528 Luxembourg
  • PWM FUNDS, 15, avenue J-F Kennedy, L-1855 Luxembourg
  • UNIRENT KURZ URA, 308, route d’Esch, L-1471 Luxembourg

2) UCIs Part II Law 2010:

  • OAKTREE (LUX.) III, 49, avenue J-F Kennedy, L-1855 Luxembourg
  • THOMASLLOYD CLEANTECH INFRASTRUCTURE FUND SICAV, 5, allée Scheffer, L-2520 Luxembourg

3) SIFs:

  • BOUWFONDS COMMUNICATION INFRASTRUCTURE FUND II, SICAV-FIS, 2, place François-Joseph Dargent, L-1413 Luxembourg
  • CS ILS SICAV-SIF, 5, rue Jean Monnet, L-2180 Luxembourg
  • ESJ S.C.A. SICAV SIF, 412F, route d’Esch, L-1471 Luxembourg
  • EUROZONE LOGISTICS FUND S.C.S. SICAV-FIS, 44, avenue J-F Kennedy, L-1855 Luxembourg
  • GLOBAL VALUE PROPERTY FUND, 11, rue Beaumont, L-1219 Luxembourg
  • IMMO CB SCS, SICAV-FIS, 15, rue de Flaxweiler, L-6776 Grevenmacher
  • INTERNOS HOTEL IMMOBILIENFONDS II SCS, 20, rue de la Poste, L-2346 Luxembourg
  • PARTNERS GROUP DIRECT EQUITY ELTIF S.C.A., SICAV-SIF, 60, avenue J-F Kennedy, L-1855 Luxembourg
  • PRIVATE EQUITY SCS SICAV-SIF, 308, route d’Esch, L-1471 Luxembourg
  • QUADRIGA FUNDS S.C.A., SICAV SIF, 28-32, place de la Gare, L-1616 Luxembourg
  • SILEX FUND S.C.A., SICAV-SIF, 2, rue d’Alsace, L-1122 Luxembourg
  • SUEBIA S.C.S., SICAV-FIS, 15, rue de Flaxweiler, L-6776 Grevenmacher

4) SICARs:

  • AMETHIS FUND II, S.C.A., SICAR, 9-13, rue Jean Fischbach, L-3372 Luxembourg
  • HELVETIA VENTURE FUND S.A., SICAR, 1c, rue Gabriel Lippmann, L-5365 Munsbach
  • MULTRANS INVEST SICAR, 42, rue de la Vallée, L-2661 Luxembourg
  • NORAX GREEN CAPITAL (SCA) SICAR, 12, rue Eugène Ruppert, L-2453 Luxembourg

The following 18 undertakings for collective investment have been deregistered from the official list during the month under review:

1) UCITS Part I 2010 Law:

  • ABARIS, 5, rue Jean Monnet, L-2180 Luxembourg
  • ASHMORE SICAV 3, 6, rue Lou Hemmer, L-1748 Senningerberg
  • COLORS INVESTMENT, 42, rue de la Vallée, L-2661 Luxembourg
  • EURIZON FOCUS CAPITALE PROTETTO, 8, avenue de la Liberté, L-1930 Luxembourg
  • GENERALI VERMÖGENSSTRATEGIE, 4, rue Jean Monnet, L-2180 Luxembourg
  • GREIFF, 6, rue Gabriel Lippmann, L-5365 Munsbach
  • HPWM FUNDS, 2, boulevard Konrad Adenauer, L-1115 Luxembourg
  • LUX LION, 15, rue de Flaxweiler, L-6776 Grevenmacher
  • UNIINSTITUTIONAL GLOBAL BONDS SELECT, 308, route d’Esch, L-1471 Luxembourg

2) UCIs Part II 2010 Law:

  • CANDRIAM LIFE EQUITIES, 69, route d’Esch, L-1470 Luxembourg
  • UNIGARANT: COMMODITIES (2017), 308, route d’Esch, L-1471 Luxembourg

3) SIFs:

  • ALL SEASONS INVESTMENTS, 6, rue Eugène Ruppert, L-2453 Luxembourg
  • DEDICATED MAP MAXQ FUND, 28-32, place de la Gare, L-1616 Luxembourg
  • DIRECTORS DEALINGS FUND (DD FUND), 2, boulevard de la Foire, L-1528 Luxembourg
  • DUMAS REAL ESTATE SICAV-SIF S.A., 14, rue de Strassen, L-2555 Luxembourg
  • THE SMALL ENTERPRISE IMPACT INVESTING FUND (SEIIF) S.A., SICAV-SIF, 5, allée Scheffer, L-2520 Luxembourg

4) SICAR:

  • ABACUS INVEST S.C.A., SICAR, 16, rue Jean l’Aveugle, L-1148 Luxembourg
  • TERRA VENTURE PARTNERS S.C.A., SICAR, 30, boulevard Royal, L-2449 Luxembourg

1 Since the statistical data of SICARs were published on an annual basis before December 2016, the chart includes the number and net assets of SICARs as at 31 December 2015 for the previous months, resulting in constant figures until November 2016 for these vehicles.