The March 2026 issue of SFF Magazine is already out ! Click on the following link to read and/or download the PDF version.
Independent Directors: A Pillar of Governance in Luxembourg Investment Funds
Redefining Oversight: The Independent Director as Luxembourg’s Strategic Advantage
The new role of the independent director: from risk supervisor to guardian of investor value
WOMEN WHO INSPIRE: FINANCE
ARTICLES
Real Estate Funds in 2026: Navigating a Market Between Recovery and Complexity
Luxembourg and the race for talent: carried interest and impatriates
Double Luxco structures in Spanish financings: an old friend back in focus
New rules governing Liquidity Management Tools in UCITS funds and open-ended AIFs
Valuation of Stablecoins: Methodologies, Risks, and Implications for the European Fund Industry
Héctor EstebanDirector of International Expansion Mutuactivos, the asset management entity of the Grupo Mutua Madrileña, continues to advance its internationalisation strategy with Luxembourg as one of its key development axes. After more than four decades in the Spanish market, the firm has embarked on a…
CERTA | Specialist Underwriting Agency with €200m of capacity providing bespoke tax insurance products worldwide.Tax law is often complex and open to interpretation. Today, tax affairs are the subject to far greater global scrutiny than before, attracting the attention of tax authorities boards, investors, regulators…
As a leading global fund domiciles with cross-border expertise within the European Union, Luxembourg continues to play a central role in international asset management. However, in today’s environment investment funds have come under increasingly regulatory scrutiny, governance standards are under sharperfocus than ever. At the…
Luxembourg remains one of Europe’s most established fund domiciles, not because it is fashionable, but because it has built an ecosystem that can sustain complex structures under scrutiny. That scrutiny has tightened. Supervisors, depositaries, auditors, banks, and institutional allocators are converging on one question: is…
For decades, the governance of investment funds has been primarily understood as a control system focused on risk oversight, regulatory compliance and process verification. However, the strengthening of regulation in the European fund industry is progressively expanding this vision.In this new context, the role of…
In the section “Women who Inspire: Finance” of this new edition of SFF Magazine, we interviewed Daniela Abreu, Senior Manager | Audit at Ernst & Young S.A.This section aims to give visibility to women professionals who lead and develop their careers in the financial sector in…
The European real estate fund market enters 2026 in a state of cautious renewal. After several years marked by valuation corrections, rising interest rates and constrained liquidity, 2025 brought signs of stabilisation — but not a return to the conditions that preceded the downturn. Capital…
Luxembourg is today competing for more than capital. It is competing for teams and “installed capacity”: investment decision-making, risk management, investor relations and, more broadly, the front office functions that anchor a platform. Against this backdrop, two recent measures point in the same direction: (i)…
Introduction: why Double Luxco structures matter againIn recent years, acquisition and real estate financing structures have been tested by market volatility, refinancing pressure and a more cautious credit environment. At the same time, alternative lenders and private credit funds are playing an increasingly prominent role,…
The amended Alternative Investment Fund Managers Directive (AIFMD II) and the UCITS Directive (UCITSD) introduce new rules governing liquidity management tools (“LMTs”) applicable to Luxembourg AIFMs and management companies by 16 April 2026, subject to partial grandfathering in certain cases.These new rules are set out…
A stablecoin is a cryptocurrency designed to maintain a constant value relative to a reference asset, typically a fiat currency such as the euro or US dollar. Stablecoins serve key roles in decentralized finance (DeFi), enabling payments, lending, hedging, and liquidity management. Unlike unbacked crypto assets…
"AKD combines deep legal expertise with a practical commercial approach. Our multidisciplinary teams advise on cross-border structuring, regulatory compliance, and complex transactions, bridging Benelux, UK, and Spanish-speaking markets notably. We offer personalised services, responsiveness, and sector specialisation — particularly in investment funds, private equity and…
These additions strengthen Cecabank's model, which is based on a neutral, independent, flexible, and specialized approach capable of adapting to the specific needs of each client.Cecabank, Spain's leading custodian bank in Securities Services, is rapidly expanding its business in Luxembourg, having recently added Buy &…
