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Seizing growth opportunities in cross-border funds

Reclaimable withholding taxes Investment performance challenges

In the nearly 40 years since the Undertakings for Collective Investment in Transferable Securities (UCITS) directive was introduced, Luxembourg and Ireland have emerged as leading hubs for cross-border funds.

December 2024

The early adoption of UCITS by Luxembourg and Ireland enabled them to build the necessary ecosystems more rapidly and extensively than other markets. Once established, both jurisdictions flourished as preferred global fund hubs.

In 2023, cross-border funds domiciled in Luxembourg and Ireland totaled €5.5 trillion and €4.8 trillion, respectively. Between them, they oversee 95 percent of the market in Europe, with investors in every region of the globe.1

In this article, we explore the qualities that make them attractive to investors entering European funds markets, including:

  • Why Ireland is leading in exchange-traded funds
  • How Luxembourg supports private markets exposure
  • Developments in innovation and technology
  • Future market leadership
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