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Asset management activity exists in Luxembourg in various forms.

• Institutional investment management
  A small number of asset management companies manage segregated funds on behalf of institutional clients. Analysis and stock picking takes place in Luxembourg.

• Asset allocation
  A number of banks are active in the area of asset allocation through funds of funds, on behalf of institutional and retail clients. This includes a large fund of hedge funds sector.

• Wealth management
  There is a wide variety of private banking services in Luxembourg and wealth management represents a significant part of the services offered by banks and numerous other financial sector professionals.

The growing importance of investment management professionals is reflected by the active presence in Luxembourg of the Chartered Financial Analyst Institute; over 100 Luxembourg candidates sit CFA exams every year.  The Alternative Investment Management Association and the European Private Equity & Venture Capital Association are also represented in Luxembourg.

Two professional associations represent portfolio managers and investment analysts, the Association luxembourgeoise des professionnels du patrimoine (ALPP) and the Association luxembourgeoise des gestionnaires de portefeuilles et Analystes Financiers (ALGAFI). Asset management companies are represented by the Association of the Luxembourg Fund Industry (ALFI).

Practical guide:
Establish business as an investment adviser