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By Iva GYUROVA, Director Ines TEIXEIRA, Assistant Manager, Deloitte Luxembourg
Luxembourg is a central hub for the world’s leading asset managers to distribute their investment funds globally. Brexit saw many asset managers relocate their operations and assets from the United Kingdom and strengthen their presence in Luxembourg, providing them continued access to EU passporting rights for cross-border management and fund distribution. Moreover, asset managers have faced continued pressure on their global profitability in recent years, with costs exceeding revenue growth rates(1), showing declining margins overall. In response, many asset managers are rethinking their worldwide operating models by consolidating their activities to achieve cost efficiencies...
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