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Transcript of This event is organised with the kind support of: ENHANCING BUSINESS AND INVESTMENT OPPORTUNITIES...
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This event is organised with the kind support of:
ENHANCING BUSINESS AND INVESTMENT OPPORTUNITIES BETWEEN BRAZIL AND LUXEMBOURGSAO PAULO, OCTOBER 17, 2012
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KEYNOTE ADDRESS
H.E. Mr Luc FriedenMinister of Finance, Grand Duchy of Luxembourg
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SETTING THE SCENE: BRAZIL MEETS LUXEMBOURG
Paulo OliveiraCEO, BRAIN
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LUXEMBOURG: IDEAL PARTNER TO EXPAND THE INTERNATIONAL BUSINESS OF BRAZILIAN COMPANIES
Carlo Thelen
Member of the Managing Board, Luxembourg Chamber of Commerce
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LUXEMBOURG, A GLOBAL HUB FOR FINANCIAL SERVICES
Fernand GrulmsCEO, Luxembourg for Finance
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LUXEMBOURG, AN INTERNATIONAL REGULATED FUND CENTER: AN OVERVIEW OF UCITS AND OTHER VEHICLES
Moderator: Marc Saluzzi, Chairman, Assoication of the Luxembourg Fund Industry (ALFI)
Experts: Georges Bock, Managing Partner, KPMG Luxembourg Rafik Fischer, General Manager- Head of Global Investor Services, KBL European
Private Bankers Jon Griffin, Managing Director, JP Morgan Asset Management (Europe)
Denise Voss, Conducting Officer, Franklin Templeton InvestmentsJérôme Wigny, Partner, Elvinger, Hoss & PrussenRicardo C. Kaufmann, Executive Director, BTG Pactual
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FUNDS PRODUCT/REGIME OVERVIEW
Dis
trib
uti
on
im
pac
t
Flexibility
UCITS
AIFMD
• Transferable securities only• Public distribution – EU
Passport• High level regulation
UCI Part II• All asset classes• Public distribution – no EU
passport• Medium level regulation
SICAR• Risk capital only • Qualifying investors only• Lower level of regulation
SIF (Specialized Investment Funds)• All asset classes• Qualifying investors only• Lower level of regulation• Diversification requirement
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LUXEMBOURG FUNDS: THE VEHICLE OF CHOICE FOR CROSS-BORDER DISTRIBUTION
Source: Global Fund Distribution analysis December 31, 2011.
Luxembourg UCITS distribution market
Peru, 64%
Chile, 73%
Sweden, 71%Germany, 67% Switzerland, 70%
Bahrain, 76%
Singapore, 71%
South Korea, 100%
Japan, 61%
Taiwan, 75%Hong Kong, 73%
France, 70%
Luxembourg market share of
foreign cross-border
funds registered for sale
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Source: Global Fund Distribution analysis December 31, 2011
CROSS-BORDER FUNDS:AN EU SUCCESS STORY
Number of cross-border funds and registrations
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A FULL FLEDGED MARKET INFRASTRUCTURE…
… to support your international ambitions
Regulator CSSF
66 Custodians
144 Fund Administrators
Distributors
1. Private Banks
2. Life Insurance
3. Platforms
3 864 funds €2,300bn
13,000 jobs
Stock exchange
6.398 listed funds
Auditors/ lawyers
344 Management Companies
(including 3rd party ManCo)
PSF
324
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LUXEMBOURG, INTERNATIONAL SERVICE PROVIDER FOR BRAZILIAN ENTREPRENEURS
Introduction: Carlo Thill, Vice Chairman, The Luxembourg Bankers‘ Asssociation
Moderator: Franciso da Cunha, Director, Deloitte Tax & Consulting
Experts: José Da Silva, Head of Latin American Markets, BGL BNP Paribas Guilherme Bezerril, Head of Latin American, SGG Jean-Philippe Leroy Managing Director, Bradesco Europa SA
Testimonial: Carlo Panunzi, Vice Chairman of the Board of ArcelorMittal Brasil
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Luxembourg, international service provider for Brazilian entrepreneurs
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• Jean-Philippe Leroy, Managing Director, Bradesco Europa SA
• Jose Da Silva, Head of Latin American Markets, BGL BNP Paribas
• Guilherme Bezerril, Head of Latin America, SGG
• Carlo Panunzi, Vice Chairman of the Board of ArcelorMittal Brasil
SETTING UP A LUXEMBOURG HEADQUARTER – IT WORKS!
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London45 mins
Berlin1,5h
Paris2h Zurich
1h
Amsterdam350 km
Frankfurt30 mins
Prague1,5h
Vienna1h
Brussels200 km
Milano1,5h
40% of European economic added value is situated whithin a 500 km radius.
(70% whithin 700km)
Madrid2h
Lisbon2h
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Growth fundamentals Brazilian economy
Luxembourg exports to Brazil
A priority for Luxembourg
Source of inspiration and strength
Internationalisation ambitions of Brazilian entrepreneurs
Investments in servicing capacity of Luxembourg Private Banks to Brazilian entrepreneurs
Intercultural fit! - Multicultural and multilingual services
WHY BRAZIL IS GOOD FOR LUXEMBOURG
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Ideal hub and gateway for investing in and via Europe
Safe place for investors Strong ties with Brazil -
2nd FDI partner
International financial centre specialized in cross-border activities
Stock Exchange specialized in international bond listings
EU market = 500 M consumers
Growing number of multinationals with European HQs in Luxembourg
Intercultural fit! - Multicultural and multilingual services
Intellectual Property friendly
WHY LUXEMBOURG IS GOOD FOR BRAZIL
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WHY LUXEMBOURG IS GOOD FOR BRAZIL
23%
14%
36%
17%
5% 5%
Eastern Europe (non-EU)
Asia & Asia-Pacific
Latin America
Middle East
Africa
United States of America
Growing importance of Latin American Investments in Luxembourg …
Specialized in serving the most sophisticated clients …
7%8%
9%
19%
8%8%
41%
WEALTH BANDS IN TERMS OF ASSETS
100,000 - 250,000 €
250,000 - 500,000 €
500,001 - 1,000,000 €
1,000,001 - 5,000,000 €
5,000,001 - 10,000,000 €
10,000,001 - 20,000,000 €
> 20,000,000 €
PB LUXEMBOURG GROWTH MARKETS
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BUSINESS SERVICE PLATFORM
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SERVICE OFFERING TO ENTREPRENEURS AND THEIR FAMILIES
Cli
ent
sop
his
tica
tio
n
Property and personal creditsDeposit and saving accountsCredit Cards Daily banking offering
DailyBanking Services
Direct Advisory Tax / retirementAdvisory mgt Market researchBrokerage Pension productsDiscretionary mgt Insurance solutionsInvestment funds Wealth StructuringStructured products
Investment Services
Family office Tax / retirementSuccession planning Estate Planning
Wealth & corporate structuring Art & collectiblesProperty & Real Estate Philanthropy
Private EquityMicrofinance / SRIs / Islamic FinanceCash management Trade FinanceCorporate / Investment Banking
Wealth Management
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Complexity of solutions
DailyBanking Services
Investment Services
Wealth Management
SIFSOPARFI SICAR
Property and personal creditsDeposit and saving accountsCredit Cards Daily banking offering
DailyBanking Services
Direct Advisory Tax / retirementAdvisory mgt Market researchBrokerage Pension productsDiscretionary mgt Insurance solutionsInvestment funds Wealth StructuringStructured products
Investment Services
Family office Tax / retirementSuccession planning Estate PlanningWealth & corporate structuring Art & collectiblesProperty & Real Estate Philanthropy
Private EquityMicrofinance / SRIs / Islamic FinanceCash management Trade FinanceCorporate / Investment Banking
Wealth Management
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Outstanding quality of life
International schools
Safest capital in the world
High quality health care system and solutions
Language & mindset – truly cosmopolitan
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CONCLUSION
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THANK YOU!
WWW.LUXEMBOURGFORFINANCE.LU
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