Luxembourg’s Financial Sector Remains Shielded from Recession Risk

In the Luxembourg Times, Alan Dundon, President of the Luxembourg Alternative Administrators Association (L3A), says the annual double-digit growth of the alternatives market is further strengthening the jurisdiction’s robust financial sector, even amid recession fears.

Alan explains that compliance and reporting requirements for alternative funds have created a specialist hiring spree, and the fact that closed-end funds have long redemption dates provides even more job security for thousands of sector employees.

“The alternative assets sector of the country's financial industry has ballooned in the past three to five years. We don't see any issues in terms of reduction of assets, or reduction in staff needed to service those assets (in 2023)," states Alan.

Read more about the outlook for Luxembourg’s financial sector from Alan and other experts here (subscription required).