Private Equity (PE) in Africa once revolved around the World Bank, and around development more closely than risk capital. However, with risk capital swelling steadily for a decade now, PE investors and marketeers are arriving to the scene with new eagerness. Why is this market evolving and what does it mean for Luxembourg?
On July 23, 2015 the European Securities and Markets Authority (ESMA) published its Consultation Paper on the draft Guidelines on sound remuneration policies under the UCITS V Directive, as mandated by article 14a(4) of the Directive 2014/91/EU – the UCITS V Directive.
The banking story this year in Luxembourg has not been one of shake-ups and instability, but rather of continuity and rising potential. With the end of banking secrecy and the extended scope of the automatic exchange of information for tax purposes among EU Member States, an inevitable question mark hovered over the sector. However in 2014, this question mark has all but been erased.
On 18 and 19 June the annual Munich Private Equity Training (MUPET) was the place to be for experts from the private equity industry in Germany. Industry professionals and various other stakeholders such as Limited and General Partners, Fund Managers, Tax Advisors, Lawyers and Auditors as well as State and Public Authorities Representatives from Germany, Luxembourg, the UK and many other countries joined in the training and panel discussions to share their views on the market and on recent developments.
Every now and again, a technology bursts onto the scene that seems to turn the world upside down. Tesla did it with cars by finding a way to make the impossible, possible –combining fast, beautiful and supremely eco-friendly. Apple did it for music, pushing the amount of songs you can hold in your pocket from 12 to 1000 with one small iPod. The asset management industry seems to have had a long wait for its own technology train. But now it has pulled into the station … and it’s one high speed bullet train that you don’t want to miss.
What would the fund industry client experience look like if viewed through the eyes of the man who shaped Apple’s concept stores for computers? What would it look like through those of the man that shaped the client experience at Tesla? This man is one and the same – George Blankenship – and at this year’s Fund Forum, he gave a fresh new perspective on client experience strategy in the asset management industry. We’ve taken the highlights and added a KPMG blue hint of insight into what the major client centricity trends will be for the asset management industry.
Pop art or impressionism, sculpture or digital art – what makes your heart beat is a personal and subjective matter. It may be linked to passion, to an investment or to a combination of both. Art needs space. Art follows moods and sometimes trends. Sometimes, it needs time; to mature, to get exposed and to get appreciated. Sometimes, it just needs a break.
KPMG Luxembourg has joined forces with an international art advisor based in Luxembourg – LINK Management – to better serve this emerging yet vulnerable market with tailor-made art and tax-related services around art management. Prominent art advisor Aude Lemogne from LINK Management is working closely with myself, my colleague Giuliano Bidoli (international tax) and our respective teams from KPMG.
How can we give retail clients in Europe access to Islamic finance? This question has long gone without a convincing response. But in just a few days’ time, a first step will be made towards getting an answer.
One week into the beach and we’re still super excited about our KPMG Plage event. This is the first time we’ve opened our events to the public and we’ve been getting a lot of questions about the who, what, when, where and why. But we have a question for you. Not what do you think, but how do you feel about Luxembourg?
We have clarity from the European Union on a topic close to my heart. The EU has made it crystal clear that the practice of tax rulings makes sense and is legitimate. Pierre Moscovici – the Member of the EC in charge of Economic and Financial Affairs, Taxation and Customs – came out in support of the tax ruling concept, stating that it is out of the question to ban or regulate the advanced agreement process.
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