Luxembourg Funds Swell 37.9 % In 2005, Says Alfi

Net assets under management held in Luxembourg investment funds increased by EUR419 billion during 2005 to reach EUR1,525.2 billion at the end of the year, according to figures compiled by a Luxembourg based investment fund association. The 37.9% increase makes

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Net assets under management held in Luxembourg investment funds increased by EUR419 billion during 2005 to reach EUR1,525.2 billion at the end of the year, according to figures compiled by a Luxembourg-based investment fund association.

The 37.9% increase makes 2005 one of the best years in the history of the Luxembourg investment fund sector, says Alfi.

The group attributes the increase in assets under management to an upturn in the creation of new funds and sub-funds, and to strong net inflows of money from private and institutions investors, which account for EUR236 billion or 56.3% of asset growth, with the remaining EUR182.7 billion due to strengthening of the US dollar versus the Euro and strong stock market performance.

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