US active investment house to launch one or two funds a year for the next three years.
US investment house Capital Group is planning on doubling its headcount in Luxembourg this year as it plots an expansion in Europe and Asia.
The company, which has $1.6 trillion (€1.4 trillion) in assets under management globally, was one of the first US asset managers to introduce a Luxembourg-domiciled fund, back in 1969.
The launch 50 years ago pre-dated the growth of the fund centre in the 1980s when EU-wide rules on retail funds were introduced.
The US active investment house is now planning on gearing up its presence in Luxembourg with one or two new fund launches a year over the next three years.
"It's really a question of getting serious about the distribution of the Luxembourg funds," Hamish Forsyth, president of Europe and Asia at Capital Group, told journalists on Tuesday.
"We are making a big firm-wide strategic commitment to being a larger firm in Europe and Asia."
The Los Angeles-headquartered firm, which also made the high-profile hire of Jean-Marc Goy from Luxembourg's financial watchdog last year, has launched 10 funds in the past five years to reach 23 Luxembourg-based retail funds.
It expects to hire 15 more staff members in the Grand Duchy over 2019 to reach a total of 30 employees and grow its assets under management from $13 billion to closer to $100 billion.
The company said the decision to bulk out the Luxembourg business was not related to Britain's departure from the European Union.
"This is not necessarily related to Brexit," said Goy. "We've been here long before Brexit and our intention is to be here long after Brexit."
The company employs 520 people across Europe with offices in Amsterdam, Frankfurt, Geneva, London, Luxembourg, Madrid, Milan and Zurich.