Luxembourg is the world’s largest fund hub and, according to the annual “Observatory for Management Companies” created by consultant PwC Luxembourg, has grown further in 2021. Assets managed by Management Companies (ManCos) increased year-on-year by 22% to the all-time high of EUR 5.3 bn. UCITS funds, which still play a pivotal role, increased by 16% in 2021. Alternative investment funds experienced an even stronger growth with 41% compared to 2020.

Just imagine if Google would decide to launch an asset management business. In theory they could. They are extraordinary innovative and have access to incredible technology that automates back-office functions, manage risk or power newly developed investment strategies. One of the reasons why IT giants didn’t enter the asset management space yet is most probably regulation, which is often national and always very complex.