Quiet 2025 ends with balance sheet bedlam at Luxembourg funds
Esoteric funds surge in December as traditional equity investors pare back
Eurozone investment funds capped off a slow and steady 2025 with a turbulent December driven by activity in Luxembourg, where equity and real estate funds shed debt securities and deposits while the residual ‘other funds’ category surged.
The final month of 2025 saw a spike in debt securities held by funds predominantly investing in assets such as commodities and securitisations, of 13.8% to €633
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