top of page


Jean-Marc Goy (Capital Group): The future of Luxembourg


Luxembourg has often been a financial pioneer in Europe. Its success is based on a unique eco-system. Luxembourg funds, thanks to the European Union framework of the UCITS directive and the AIFMD, are a globally recognised brand of products often considered as the “gold standard” and are distributed in more than 70 jurisdictions worldwide. Read more below on the future of Luxembourg as a leading financial centre.

Capital Group - Goy.jpeg



Can you present your company in a few words?

Capital Group is one of the oldest and largest asset management companies in the world, managing multi-asset, equity, and fixed income investment strategies for different types of investors.  Founded in the U.S. over 90 years ago, we have been singularly focused on delivering superior, consistent results using high-conviction portfolios, and rigorous research. Today we work with financial intermediaries and institutions to manage over US$2.2 trillion in long-term assets for investors around the world. With a strong global footprint, we have also been operating in Europe for the last 60 years, and in Asia for the last 40 years.


 “The focus should be on a stable framework in an open Europe (…), on regular and open-minded dialogue (…) and on competitive conditions.”

What are the new challenges and opportunities that you identify?

As a firm, our mission is to help our clients invest wisely and confidently for the long term so that they can enjoy the things that really matter to them. Ultimately, we are supportive of requirements that lead to better outcomes for clients and end investors, and this is aligned with our own stated purpose. Always with the client/end investor in mind, it is important that the introduction of new overly restrictive rules should be avoided. New rules should only be introduced if they bring undeniable and necessary increased investor protection.


How do you see the future of Luxembourg?

Luxembourg goes from strength to strength thanks to its unique eco-system and approach, which have seen it become a leading financial centre. For its success story to continue with further impressive chapters, the focus should be on a stable framework in an open Europe. Implementing and applying new rules has a cost, which is also borne by the investors. Changes of the legal and regulatory framework should be kept to those that are really necessary and that add value in the interests of investors. There should also be an emphasis on regular and open-minded dialogue. Continuing the constructive and meaningful dialogue with decision makers, politicians, regulators, investors, and industry representatives is of paramount importance to ensure the ongoing positive development of our financial centre. As vice chair of theAssociation of Luxembourg’s fund industry (ALFI), I am thrilled to see forums where industry experts can convene to share, analyse and debate topical issues and opportunities. As a constantly evolving industry, such channels of dialogue are extremely crucial. Finally, a focal point should be on maintaining competitive conditions. A competitive environment is key to attracting and retaining talent, and also to fostering innovation. Luxembourg is reinforcing its position at the top thanks to pioneering initiatives in FinTech, RegTech, digitalisation and sustainable finance. The introduction of a reduced subscription tax for sustainable finance funds underscores that Luxembourg aims to be a frontrunner in this area.


bottom of page