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Welcome to PwC's Observatory for Management Companies.
Luxembourg hosts around 300 ManCos holding a UCITS or AIFM licence, or both.
Through PwC’s Observatory for Management Companies, we pursue in-depth analysis of the ManCo world and connect the dots to give you an outstanding view of where the industry is, to make you understand the latest figures and trends and to guide you as a trusted partner in your business plans for the future.
This in-depth analysis led us to create our popular barometer, providing on a yearly basis key figures and trends of the ManCo industry.
Management Companies snapshots
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The 9th edition of our Management Companies Observatory Barometer is out!
Download the report
Observatory for Management Companies - 2024 Barometer
Pre-order your printed copy
The 10th edition of our Management Companies Observatory Barometer is coming soon!
PwC Services
Management Companies, we are taking up your challenges together
Our range of services is probably the most extensive in the industry, supported by our teams of highly-skilled and trained professionals, combined with the use of the latest advancements in technology and process.
Get in touch with us to find the right solutions tailored to your needs.
- Entity set-up (CSSF licence filing, licence extensions and passporting)
- People, Governance and Organisations
- Strategy, Operating models review, business analysis
- Internal, External audit, …
Spotlight on
Managed services
Benjamin Gauthier
AWM MS Leader, Advisory Partner
Alexandre Igel
Alternatives MS Market Leader, Accounting and Tax Partner
Building Trust on ESG Reporting
Geoffroy Marcassoli
ESG Audit Leader, Audit Partner
The GenAI Revolution
GenAI Business Center
Sébastien Schmitt
Advisory Partner, Risk and Regulatory
Regulatory
Anthony Bianco
Internal Audit and Regulatory Advisory Partner
Michael Horvath
Regulatory Advisory Partner
Tax
Sidonie Braud
Asset Management Tax Leader, Tax Partner
Luxembourg Regulatory Framework
All regulated investment vehicles, which are investment funds (UCITS, UCIs and SIF funds) shall appoint a Management Company or be "self-managed". UCITS may only appoint a Management Company subject to Chapter 15 of the 2010 Law whereas, UCIs and SIF funds may appoint either a Management Company subject to Chapter 15 of the 2010 Law or a Management Company subject to Chapter 16 of the 2010 Law. In case of AIFs, there is a need to have an alternative investment fund manager ("AIFM") or to have an "internally-managed" AIF status.
In 2016, a new vehicle appeared in Luxembourg: the RAIF. The RAIF is not subject to any authorisation or supervision by the CSSF ("Commission de Surveillance du Secteur Financier") but always needs to appoint an external AIFM.
Main laws and regulations:
- Law of 17 December 2010 on undertakings for collective investment
- Law of 12 July 2013 on Alternative Investment Fund Managers
- CSSF Circular 18/698 on Authorisation and organisation of Investment Fund Managers
- CSSF Regulation 10-04 on Organisational requirements, conflicts of interest, business conduct, risk management and content of agreement between the Depositary and the Management Company
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Contact us
Bertrand Jaboulay
Assurance Partner, AWM Clients & Markets Leader, PwC Luxembourg
Tel: +352 49 48 48 2198
Pierre-Marie Bochereau
Audit Director, Management Company Observatory Coordinator, PwC Luxembourg
Tel: +352 62133 52 68
Laurent Buttice
Audit Partner, Management Company Leader, PwC Luxembourg
Tel: +352 62133 27 13
Michael Delano
Asset & Wealth Management Leader, Audit Partner, PwC Luxembourg
Tel: +352 49 48 48 2109
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