In the press release, the CSSF explicitly denied that it had given Insight Liquidity Funds the authorisation to act in Luxembourg's financial sector, contrary to claims made on the Insight Liquidity Funds website.
The press release takes the opportunity to warn the public that this entity is unknown to the financial sector regulator.
More generally, the number of funds and the sum managed by funds in Luxembourg fell again in December. At the end of 2018, 3,900 funds were active in the Grand Duchy, as opposed to 4,040 in the previous year.
The end of 2018 also saw a drop in the amount of euros managed by funds, which had fallen by €100 billion to €4,060 billion in 2018.
Luxembourg is the largest investment fund centre in Europe and the second-largest in the world, falling behind the United States.
