The tide was stemmed at the beginning of the second quarter. The CSSF said on 27 May that total assets under management rose by 6.11% between 30 March and 30 April 2020, to €4.4trn.
The rise was partly due to net inflows of €42.9bn (+1.03%), but mainly thanks to market gains of €210.9bn (+5.08%). The financial regulator said in its report that financial markets had strengthened after government and central bank support schemes had been rolled out and deconfinement plans had been put into place across the world.
Net assets were still 0.03% lower than at the end of April 2019.
There were 7 fewer investment funds registered in Luxembourg, bringing the total down to 3,693 at the end of April 2020.
CSSF figures showed that the US was still the largest country which initiated Luxembourg-domiciled funds, representing about 20.9% of net assets as of 30 April. America was followed by the UK (17.9%), Switzerland (14.3%), Germany (14%), France (9.4%), Italy (7%), Belgium (4.3%), Luxembourg (2.7%), the Netherlands (2.1%) and Denmark (2%). Other countries made up the remaining 5.4%.