JPMorgan Investor Services has achieved the number one ranking in custody according to the annual Fitzrovia Luxembourg Fund Encyclopaedia.
The firm - which has a total of US$87.5bn asset under management in Luxembourg - was beaten to the top spot in fund administration by UBS. Fortis Investment Management still provides the greatest number of Luxembourg-domiciled funds, with 258.
According to Fitzrovia, total fund assets in Luxembourg have increased by US$70bn to US$817.34bn over the past year.
“Even faster growth in the number of funds in Luxembourg shows the increasing variety of investment products being sold across Europe”, added Paul Moulton, chief executive of Fitzrovia.
Other key players identified in the encyclopaedia included PricewaterhouseCoopers who audit 2,985 funds in the region, and Elvinger Hoss & Prussen, who advise 1,689 funds on legal matters. The encyclopaedia is published by Fitzrovia International - an independent fund research company based in London.
By Janet Du Chenne
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.