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Observatory for Management Companies
Welcome to PwC's Observatory for Management Companies.
Luxembourg hosts more than 300 Management Companies (a.k.a. ManCo), holding a UCITS or AIFM licence, or both. In 2018, they confirmed their rise with a growth of 4,5%, according to the 2019 Barometer of the Observatory for Management Companies, with 19 new ManCos that were created.
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.
Consequently, this in-depth analysis led us to create both:
- a ManCo Index, providing you with a quantitative overview of the sector - number of firms, AuMs, and number of employees; and
- a barometer poster, showing the evolution of ManCos on a yearly basis.
Pre-order your copy
The 2020 edition of our Observatory for Management Companies Barometer will be out soon. Pre-order your copy by filling in the form.
Explore the ManCo data
ManCo barometer
The PwC ManCo Index measures ManCos' activities in Luxembourg. Discover the latest trends regarding the growth in the number of UCITS ManCos and AIFMs, the number of employees in the UCITS Mancos, and the evolution of their AuM.
Management Companies snapshots (@ 31 December 2018)
Luxembourg Regulatory Framework
All regulated investment vehicules, which are investment funds (UCITS, Part II 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, Part II 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 need to have an alternative investment fund manager ("AIFM") or to have an "internally-managed" AIF status.
In 2016, a new vehicle appears 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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Our services
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Our Assurance group provides assurance on the financial performance and operations of your business. We can also help your business improve its external financial reporting and adapt to new regulatory requirements such as Sarbanes-Oxley and International Financial Reporting Standards (IFRS).
In Luxembourg, PwC is the leading professional services firm employing around 960 professionals in its Audit & Assurance Services.
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In Luxembourg, we are nearly 700 tax and accounting professionals to assist businesses, individuals and organisations with tax strategy, planning and compliance. Our firm also provides a wide range of tax advisory services.
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With more than fifty years of experience in the Luxembourg market, solid credentials and a team of more than 400 people combining deep industry knowledge and professional experience, we believe our consultants are best placed to assist you in driving your business beyond.
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Contact us
Oliver Weber
Partner, Asset and Wealth Management Leader, PwC Luxembourg
Tel: +352 49 48 48 3175
Bertrand Jaboulay
Management Company Observatory Leader, PwC Luxembourg
Tel: +352 49 48 48 2198
Pierre-Marie Bochereau
Management Company Observatory Coordinator, PwC Luxembourg
Tel: +352 49 48 48 5268
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