Insight / 03 November 2020
Luxembourg Rebounds from Global Pandemic
Daniela Klasen-Martin discussed the reasons why Luxembourg has emerged from the global pandemic in a strong position.
Speaking with Nicholas Neveling in a recent Special Report for Real Deals, Daniela Klasen-Martin, Luxembourg Managing Director and Group Head of Management Company Services at Crestbridge, shared her thoughts on how Luxembourg’s pragmatic and flexible approach to COVID-19 disruption has helped to mitigate the impact of the pandemic.
She explained: “Service providers have been able to quickly respond to the challenge and implemented home-working, with minimal disruption. The landscape has been shifting rapidly and dramatically, from changes in economic substance, to amended value-at-risk limits, and modified liquidity management requirements within portfolios. By ensuring meticulous attention to detail on all regulatory and compliance issues, service providers are removing a potentially burdensome and onerous variable in their clients’ operational activities. This will go a long way in minimising, or at least mitigating, the Covid-elicited disruptions to their business.”
Daniela went on to comment on how the government and CSSF have supported Luxembourg’s fund industry, and the benefits that this has brought.
Read the full article here.