New findings from the 20th edition of Monterey Insight, the independent fund research company, reveal the market shares of all service providers in Luxembourg’s funds industry.
Luxembourg-domiciled fund assets rose by 14.94% to US$3,621.7 billion (€2,628.2bn) over the year to the end of 2013, up from US$3,150.9 billion (€2,389.9bn) in 2012. Once again this sets a new industry high point for the market. The number of sub-funds reached 13,448, an increase of 1.93% over the previous year (up from 13,193).
State Street has for the first time taken over top position in administration by total net assets (US$ 488.1bn), with JPMorgan now coming in at second place (US$462.0bn), BNP (US$236.4bn) ranked third just ahead of RBC Investor & Treasury Services (US$236.0bn).
For the 14th year running, JPMorgan maintained its lead position (US$656.2bn) for custody business with State Street remaining in second place (US$559.0bn).
PricewaterhouseCoopers maintained its lead auditing 5,232 sub-funds, ahead of KPMG and Deloitte.
Among legal advisers, Arendt & Medernach has consolidated its leading market share by number of funds, although Elvinger Hoss & Prussen is ahead by fund assets.
Among fund management companies, the largest fund promoter of Luxembourg domiciled schemes is JPMorgan (US$251.3bn), followed by Deutsche Bank/DWS (US$183.7bn), and in third position Franklin Templeton Investments (US$172.7bn).