Business News

Telecom: The Grand Duchy ranked among the top five European countries for fast internet access, a European Commission-sponsored study has found.

Luxembourg residents have access to some of the fastest internet networks in Europe, according to a recent EU report.

The Grand Duchy tied as one of the five countries with the highest rate of “overall fixed broadband coverage” out of the 31 European countries studied (the EU28, Iceland, Norway and Switzerland). 100% of households in Luxembourg, Cyprus, Malta, the Netherlands and UK had access to “broadband services of at least 2Mbps download speed”, the report authors stated.

They were followed by Belgium and Switzerland (99.9%), and Portugal (99.8%). Rates were “lowest in Poland, Slovakia, Estonia and Romania where [high speed fixed broadband] reached between 85.4% and 89.4% of households”.

In terms of mobile internet, Luxembourg had the 4th highest rate of “LTE coverage”, the fastest type of service in commercial operation, reaching 96% of households. The Grand Duchy only trailed the Netherlands, Sweden and Denmark (each with 99% or more coverage). The EU28 average was 79%.

The study, “ Broadband Coverage in Europe 2014: Mapping Progress towards the Coverage Objectives of the Digital Agenda ”, was conducted by the market research firms IHS Technology and Valdani, Vicari & Associati for the European Commission , and was released on 22 October.

“The results show that over 216 million EU households (99.4%) had access to at least one of the main fixed or mobile broadband access technologies at the end of 2014 (excluding satellite),” three million more than in 2013, the report said.

http://delano.lu/news/top-broadband-list

Luxembourg in the Top Ten of 70 countries tested for their knowledge of the English language. English Proficiency Index (EPI) - https://lnkd.in/ebGsEQm

Prisma's CEO Carole Miltgen attending the BCC lunch with PWC's John Parkhouse, talking about the future of the financial sector and the fact that “The market here is a pure export market. Pretty much everything we do is designed to go cross the border. That fixes our mind-set and makes sure that we look at things globally, and that explains our past achievements too.

The full article can be found on the Delano website:
http://delano.lu/BCCParkhouseTalk15

Luxembourg will hold the Presidency of the Council of the European Union as of 1 July 2015.

Luxembourg; the country of diversity where people from 170 different countries live together in a multi-cultural environment.  It is the only Grand-Duchy in the world and a UNESCO world heritage site with a, dynamic financial centre and so much more. Discover our beautiful country in this short 2 minute video and enjoy the moment http://www.luxembourg.public.lu/…/film-presidence/index.html

Document requirements being submitted for the Swiss market can be time consuming for fund managers.

At Prisma, we are experienced in the creation of documents such as report and accounts and prospectuses destined for the Swiss market. We already work with various companies on the production of their documents so are familiar with the requirements. FINMA (Swiss Financial Market Supervisory Authority) impose strict deadlines relating to the submission of documents; We are fully aware of this. The project timeline that is created for each project by Prisma incorporates allowance for all stages of Swiss document production, translation, typesetting, condensing of the document if required, review, approval and provision of final files prior to the regulatory submission deadline. Prisma offer the following in relation to specific Swiss needs: 

• translation into one of the official Swiss administrative languages (French, German or Italian).
• provision of a certificate of translation accuracy.
• optimisation, removal of sub-funds that are not registered in Switzerland from the document.
• insertion of additional information such as the Swiss representative.
• addition of any required Swiss specific disclaimers, further to confirmation from the responsible  Swiss party.
• liaison with the appointed Swiss counsel and /or representative for approval of the document and prompt provision of final files for filing at FINMA.

Prisma can assist you with the preparation of all these documents!

If you have any questions on the creation of documents for the Swiss market, please contact us. We would be very happy to provide you further information prisma@prisma.lu

Prisma can handle the management of time sensitive, personalised shareholder communication via both traditional postal format and electronic means. We currently organise AGMs, EGMs and general shareholder correspondence for many funds with varying amounts of investors, from just 3 to over 36,000 in multiple languages

• Traditional Postal Mailings
• Registered Mailings
• Electronic Mailings

The documents required for the mailing can be typeset in the company’s corporate branding and translated into any required language by Prisma. Prisma can also manage the review and approval process of these documents if required. In accordance with the data provided by the Transfer Agent, documents can be personalised and printed before fulfilment and mailing to the end shareholder/distributor or sent electronically.

The challenges surrounding client communication are continuously on the increase. Challenges such as changes in investor disclosure obligations, complexity of distribution channels, languages required or geographic scope can make the organisation and production of shareholder communication a time consuming and costly exercise

Prisma conducts these mailings on a day-to-day basis; we are used to optimising and managing time sensitive, multilingual mailings. The procedure as to how to organise a mailing may vary but we are flexible to adapt to the client’s approach and preferences.

Prisma adheres to strict quality controls, producing the mailings in a PFS environment, ensuring they are performed accurately, securely and on time, every time. We control the process every step of the way, from creation of the original scope and timetable through to status updates and finally delivery of proof of postage.

Furthermore, Prisma can monitor the mail returns for each shareholder mailing and report back to the client with all relevant information in order to maintain internal databases.

If you require further information on our shareholder mailing services, please contact us at prisma@prisma.lu

Beginning of January the Luxembourg Fund Association ALFI traveled to various Asian locations to promote Luxembourg. Prisma took part in the Hong Kong and was represented by its CEO Carole Miltgen.

During the conference, various actors from fund industry explained where Luxembourg stands today and where it wants to be tomorrow. In addition to the local news, the new European Commission’s agenda has been shared with the Asian guests. The full program and slide show can be found on the website alfi.lu and any questions can be directed to prisma@prisma.lu .

Are you preparing your year-end report? Would you like some of the workload taken off your shoulders? Let Prisma assist you. We have significant experience in the creation of Audited Annual Reports, Unaudited Semi-Annual Reports and Monthly Financial Accounts. At Prisma we are familiar with the standards and practices applicable to different fund structures and local jurisdictions.

As part of our service package, we offer report productions which include all creation stages from planning to translation, typesetting, print, review management and distribution; always within the required timeframe. Prisma’s experienced Project Managers will work closely with all parties involved from the commencement of the project until the end delivery.

We produce financial reports based on the files that we receive from the fund administrator and in respect to the management company’s corporate branding. Our excellent and qualified financial typesetters take great pride in the design and layout of the reports; our multi levels of proof checking ensure a high quality result.

After completion of the reports in their source language, if required, translations can commence. The reports are semi-automatically translated in order to optimise production and utilise any previous similar translations. Any new translation requirements are conducted by our specialised financial translators. The reports are then prepared in a PDF format for final distribution or ready for print if required. We distribute the reports to the regulators, fund administrators, local offices, distributors and any other parties involved.

Over the last years, Prisma has managed, produced and distributed financial reports for 24 key players of the mutual fund industry based in Luxembourg, UK, Ireland, France, Poland, Germany and Singapore. The repetitive and increased orders for financial reports from our clients have demonstrated our expertise and added value in the production.

An Annual Report summarises all the activities, revenues and charges of a company throughout a whole fiscal year. This yearly report is important for shareholders to inform them about the company’s operations and financial situation at the end of each year and is also a regulatory requirement. It is also an opportunity for a company to promote their brand and professionalism in terms of stylisation of the report.

As the year end is approaching, Annual Reports productions are an important upcoming matter. If you require a reliable partner in the production of your reports, Prisma is always available to adapt to your needs.

If you would like to know more, please do not hesitate to contact us on prisma@prisma.lu

The doors have been opened in Israel to EU Funds and European asset managers will allowed to sell UCITS funds in Israel for the first time.

In recent developments, restrictions that had previously prevented UCITS funds being sold directly to investors based in Israel have been lifted due to an amendment to a law governing the country’s investment fund market. US-domiciled funds will also now have permission to distribute in Israel.

Part of the requirements to allow managers to distribute funds in Israel, are that the fund must operate under the UCITS directive or the US Investment Company Act of 1940 and have a net asset value of at least $50m (€38m). No fewer than five funds must be managed by the fund manager, the units of which must be offered to the public for at least five years.

Although under the amended Joint Investment Trust Law, prospectuses in Hebrew are no longer required to accompany foreign funds, it may be prudent for asset managers to localise their documentation for this new and exciting market.

In this respect Prisma could offer translation and typesetting services for a complete range of fund documentation in Hebrew. Our experienced financial translators and typesetting team will ensure all your documentation is of the highest quality and ready for exactly when you need it.      

Thinking of distributing in Israel? For further information on our related services, please contact us at prisma@prisma.lu

The individual identity as well as a strong corporate image; are the keys to brand recognition in the market place.

Our typesetting and quality control team are specialised in the production of financial documents. Our team members have over 10 years’ experience in this field.  On a daily basis, we are formatting a wide range of financial documents: from a one page shareholder letter, to a 600 page financial report. We also offer the production of a complex editable application and subscription form.

The documents that we format are for a variety of fund structures and jurisdictions  in multiple languages (including special Greek, Asian and Hebrew characters). Prisma places special emphasis on the accurate and fast turnaround of your financial documents, ensuring that your deadline and corporate branding are adhered to at all times. We fully understand the time constraints when producing fund documentation

There is more to typesetting (and typography) than you may imagine. Both have their origins in the Gutenberg revolution and each, in their different ways, were concerned with the presentation of textual material in type format ready for printing. In times gone by there was a huge difference between them. Typography was the art of designing, setting and arranging type whereas typesetting was the process (or craft) of actually setting the type. The digital revolution has however changed and in many ways simplified this process.

In order to portray a professional, consistent and recognisable brand image to the end shareholder, Prisma offers a comprehensive typesetting service to meet your requirements. Working with the very latest software and qualified, experienced financial typesetters and proof checkers, we offer a variety of services in this domain.

• Template creation and style guide consultancy
• Formatting and typesetting of any financial documents
• Typesetting and organisation of press notifications
• Proof checking
• Editable PDF creation, conversion and bookmarking
• Word conversion and blacklining per cycle
• OCR scanning
• e-book creation
• Creation of print ready PDF files
• Multiple file output possibilities
• We accept source files in any format and also in hard copy manuscript

Our expert compositors are available to create your own unique corporate branding or if you already have guidelines in place our typesetters can adhere to your distinct personalised requirements. In addition to this, Prisma liaises directly with the client's design or marketing department for instructions and style approval.

If you have any questions on our typesetting service or wish to receive an indicative quote, please contact us. We would be very happy to provide you further information: prisma@prisma.lu