Rising to the challenge

With demand for financial products growing around the world, Luxembourg is creating a new funds framework to meet the needs of investors and keep itself ahead of its competitors. Since the centre became the first jurisdiction to adopt regulations to passport products across Europe in 1988, with the introduction of Ucits, Luxembourg has not stopped growing. The number of Ucits now domiciled in the country has grown from 130 in 1999 to 2,060 in 2005. The country hopes to further add to this growth by creating a microfinance agency, expanding its hedge fund industry and developing its pens...