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ALFI: The Luxembourg-London axis Camille Thommes says 2021 marks the true start of the post-Brexit era. With the start of 2021, we have entered year one of the de facto post-Brexit era, and year two of the coronavirus pandemic.  Both issues combined have resulted in considerable challenges to the mobility we were used to: in the asset management industry, that of funds, their investors and managers – and our industry’s people. What has therefore been in great demand are solutions for remaining not just operational, but agile in the absence of freedom of movement. Much of Europe’s asset management activity plays out along an axis between Luxembourg as the main investment fund centre, and the UK – London in particular. In terms of assets under management (AuM) in Luxembourg-domiciled funds, a respectable €847 billion, or 17%, stem from UK fund houses. Within the EU, passporting mechanisms under Ucits and AIFMD rules allow for cross-border management and distribution of

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