Georgina Adam says Luxembourg has gotten interested in art:
The latest financial centre to sit up and take notice of art as an investment is the Grand Duchy of Luxembourg. On September 22, the semi-governmental agency, Luxembourg for Finance, is holding its first conference on the subject. Organiser Elisabeth Kugel admits she was startled by the positive response: “We sent invitations to asset managers and bankers, plus some artists and gallery owners, and we already have 180 people signed up, coming from Luxembourg but also from Belgium, France and the UK. We didn’t expect nearly as many.”
The conference is being held in the state’s modern art museum and the main speaker is Michael Moses, co-founder of the Mei Moses art index and of Beautiful Asset Advisors. “We are always searching for new niches and, following the financial crisis, we think this is a good time to promote ‘emotional assets’ such as art,” says Kugel. “If the response is positive, we might decide to establish art as an investment for the financial centre, like microfinance or Islamic finance.”
The Art Market: Back in Gear (Financial Times)
